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U.S. Corn Exports Forecast at a Record: What Sales and Shipments Show

USDA’s June 2026 outlook forecast record U.S. corn exports for 2025/26. Here is what shipments and sales commitments showed—and why they are different measures.
From TheFinanceBase Team3 min to read
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USDA’s June 2026 forecast put U.S. corn exports at a record 3.325 billion bushels for the 2025/26 marketing year. That was a projection, not a final export tally. The latest forecast available on October 8, 2026, was not established in the cited material: USDA had scheduled its October World Agricultural Supply and Demand Estimates (WASde) report for the following day.

What USDA forecast—and how it compared with the prior record

In its June 15, 2026 Feed Outlook, USDA’s Economic Research Service (ERS) raised its forecast for U.S. corn exports in the 2025/26 marketing year by 25 million bushels, to 3.325 billion bushels. ERS described that as a forecasted record. It was 467 million bushels, or 16%, above the then-record 2.86 billion bushels in 2024/25. USDA ERS, June 2026 Feed Outlook.

The forecast describes expected exports for a marketing year; it should not be read as proof that 3.325 billion bushels were ultimately shipped. USDA’s October 2026 WASDE release was scheduled for October 9 at 12:00 p.m. Eastern, so the June figure was not the latest forecast as of October 8. USDA WASDE report schedule.

What shipments showed through April 2026

Observed exports were strong during the first eight months of the marketing year. Census-based U.S. corn exports from September 2025 through April 2026 totaled 2.24 billion bushels, 24% more than in the same period a year earlier. This is a period-specific shipment total, not the final 2025/26 result or a substitute for the annual forecast. USDA ERS, June 2026 Feed Outlook.

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Mexico was the largest named destination in that span, receiving 679 million bushels—about 30% of exports. Shipments to South Korea rose by 96 million bushels to 229 million, while exports to the European Union increased by 78 million bushels, including gains to Spain, Ireland, Portugal and Italy. These figures describe destinations for September 2025–April 2026, not full-year demand. USDA ERS, June 2026 Feed Outlook.

How export sales, commitments and shipments differ

USDA’s Foreign Agricultural Service (FAS) Weekly Export Sales Report tracks U.S. export sales activity, including corn. Its Export Sales Query System lets users examine data by destination and is updated weekly. USDA FAS Data and Analysis.

  • Outstanding sales are contracts for future delivery; they are not yet physical shipments.
  • Accumulated exports are shipments already made.
  • Total commitments combine accumulated exports and outstanding sales. They show shipments plus contracted future delivery, not exports already completed.
  • Export inspections count grain inspected for export by the Federal Grain Inspection Service. The series has exceptions, including some small shipments and rail or truck exports to Canada or Mexico, so it is not interchangeable with sales or Census-reported exports. USDA ERS, March 2026 Feed Outlook.

A historical commitment figure illustrates why the date and measure matter: ERS reported 2,558 million bushels in total commitments for the week ending February 26, 2026, then a record for that marketing-year week. The comparable figure for the same marketing-year week in 2020/21 was 2,328 million bushels. ERS cautioned that marketing-year weeks are tied to reporting dates and may not align to the same calendar date across years. These are dated weekly commitments, not the latest sales report and not a completed export total. USDA ERS, March 2026 Feed Outlook.

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How to check whether the record forecast held up

  1. Check the forecast vintage. Use the WASDE release date to identify which USDA forecast you are reading; do not treat the June estimate as current after a later report is published. USDA WASDE report schedule.
  2. Check the weekly sales report. Find the latest FAS Weekly Export Sales Report and its corn figures. The FAS data page listed an October 8, 2026 report, but the corn figures were not available in the cited material. USDA FAS Data and Analysis.
  3. Compare like with like. Set the marketing-year period and unit alongside the figure, then distinguish outstanding sales and total commitments from physical shipments. For a pace comparison, use the same marketing-year week or equivalent period in prior years.

USDA’s October WASDE was scheduled for October 9, 2026, at noon Eastern; until that release, the October forecast was not yet available. USDA WASDE report schedule.

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