US Corn Export Sales off to Strong Start
US corn export sales for the 2024/25 crop year totaled 1.02 billion bushels on October 24, up 300 million bushels from a year ago and 44% of the USDA’s current crop year forecast of 2.325 billion bushels. In the previous 35 years, late October US corn export sales have averaged just 36% of crop year exports.
Late summer and harvest cash corn price lows may have appeared a bargain to corn importers who front loaded corn export commitments. Even so, 2024/2025 crop corn exports appear likely to overrun the current USDA forecast.