Former President Trump is expected to deliver a speech this evening in Iowa, where some speculate he may address trade-related issues.

According to the USDA, a private export sale of 156,000 metric tons of corn for 2024/25 was reported this morning to unknown destinations.

Rainfall is forecast across much of the Western Corn Belt next week, with expectations of 1 to 2 inches. The Eastern Corn Belt may receive lighter rainfall, up to 1 inch.

According to the USDA’s weekly export sales report for the week ending June 26, old crop corn bookings totaled 532,745 metric tons. This was on the lower end of trade estimates (400,000 to 1,000,000 MT), marking a marketing-year low. However, it was still 49.2% higher than the same week in 2024. South Korea was the largest buyer with 273,700 MT, followed by Mexico with 157,100 MT.

New crop sales reached 940,159 metric tons, exceeding estimates (500,000 to 900,000 MT) and hitting a marketing-year high. Forward sales now total 4.5 MMT, 28.6% higher than the same time last year. Mexico was the top buyer at 435,700 MT, while 242,700 MT were sold to Japan.

According to Census data, 7.29 MMT (287 million bushels) of corn were exported in May, 22.14% higher than last year but 6.4% lower than April. Third-quarter exports totaled 882 million bushels, with the yearly total at 2.09 billion bushels. Distillers grains exports rose 2.67% from April to 918,108 MT, but were 9.31% below last year. Ethanol exports for May reached a record 184.67 million gallons for the month.