US Corn Exports Reach Record Levels for Second Consecutive Year
US corn exports have reached record levels for two consecutive years, thanks in part to a bumper crop of 17 billion bushels in 2025. Mexico was once again the top buyer of US corn, accounting for its fifth straight year as the largest market.
Corn exports grew by an impressive 19% from the previous year's record, surpassing expectations with an additional 225 million bushels estimated by the USDA. The protracted Mexican border closure and a slow soybean demand last fall due to China being out of the market may have contributed to corn exports beating earlier projections.
China accounted for 30% of US soybean exports in the last marketing year, down from 50% or more in recent years. Mexico was the second-largest buyer at around 12%, followed by Egypt and Indonesia. The key question for soybean exports is how increased business with China will be split between a larger overall trade total and lower numbers for other buyers.
The USDA projects soybean exports to grow by 165 million bushels through the 2026-27 marketing year, with China doubling its purchases to 25 million metric tons. This equates to around 450 million more bushels this season. Meat exports are also on the rise, with a new record high projected for 2027 pork exports and disappointment over falling beef exports due to cattle herd contraction.
The pork export outlook is sensitive to Chinese trade relations, while the cattle industry faces implications surrounding imports, such as Mexican feeder cattle and Argentine beef.