USDA Updates 2025 Corn and Soybean Export Forecasts
The U.S. Department of Agriculture (USDA) has released updated forecasts for 2025 corn and soybean exports, offering insights into market trends and expected demand. World Agricultural Outlook Board Chairman Mark Jekanowski detailed the changes in the USDA’s latest crop report, showing a stronger outlook for corn but a more modest projection for soybeans.
“Very strong U.S. corn exports. Back here we raised our corn export forecast by 10 million bushels, it’s now at just over 2.8 billion bushels, and we raised our export forecast by 100 million bushels.”
The total U.S. corn export forecast now stands at 2.975 billion bushels, nearly reaching the 3 billion bushel mark. This represents a significant year-over-year increase.
“So our U.S. corn export forecast is now just under 3 billion bushels, 2.975 billion to be exact. That would be up about 145 million bushels year over year.”
In contrast, the soybean export outlook was revised downward, reflecting shifting demand dynamics and increased domestic processing.
“We reduced our U.S. soybean export forecast this month by 20 million bushels, it’s now at 1,685,000,000 bushels, that would be down about 190 bushels year over year.”
Despite lower exports, soybean crush demand and domestic use are balancing out the reduction. However, this adjustment led to an increase in soybean ending stocks.
“So with that higher domestic use, higher crush, and lower exports, nearly balancing out, U.S. soybean ending stocks were raised by 10 million bushels, still that would be down 30 million bushels year over year.”
The USDA also made a slight adjustment to the season average market price for soybeans.
“And in terms of our season average market price for soybeans, we lowered it by 10 cents per bushel this month, now sitting right at $10 per bushel, which I’ve realized over the course of the season that would be unchanged from last year’s price.”
These USDA projections will influence commodity markets and planting strategies as U.S. growers and global buyers respond to evolving demand for corn and soybean exports in 2025.
Audio Reporting by Dale Sandlin for Southeast AgNet.