US corn exports hit record high

The United States is expected to close the 2024/25 cycle with record corn exports, estimated at 71,7 million tons. This volume surpasses the previous high of 68,3 million tons recorded in 2020/21. The high production, the fifth-largest in history, combined with the largest initial stocks in five years, ensured ample exportable supply and competitive prices. This information is from the USDA.

At the beginning of the season, lower Ukrainian supply reduced competition. Later, exports of Brazil's second-crop corn began at a slow pace, despite the country's second-largest production ever. Brazil's slowdown opened up additional space for North American corn in the international market.

Mexico, Japan, Colombia, and South Korea accounted for more than 70% of the volume exported by the US between October and July. However, growth in secondary destinations also sustained this performance. Guatemala, Vietnam, and the European Union recorded the highest volumes of US corn imports in the last five years, in some cases reaching historic highs.

For 2025/26, the projection indicates a new all-time high. North American production is expected to reach 427 million tons, the highest volume ever estimated. This could lead to exports reaching 75 million tons, an increase of 2,5 million tons over the previous forecast. In early September, advance sales already represented the second-highest level in history, even without China's participation.