USDA this morning reported a private export sale of 225,000 metric tons of corn to Mexico, all for 2025/26. In addition, 229,000 metric tons of corn were sold to unknown destinations, including 35,000 metric tons for 2024/25 and 194,000 metric tons for 2025/26.

According to Crop Progress data, as of July 27, 76% of the U.S. corn crop had reached the silking stage, which is 1% below the 5-year average. About 26% of the crop is in the dough stage compared to the 24% average. Crop conditions dropped by 1 point to 73% good/excellent, with the Brugler500 index at 384.

USDA reported corn export shipments at 1.522 million metric tons (59.93 million bushels) for the week ending July 24. This was up 54.55% from the previous week and 42.16% higher than the same week last year. Of this total, 610,316 metric tons were shipped to Japan and 460,381 metric tons to Mexico. Marketing year exports have now reached 60.34 million metric tons (2.376 billion bushels), which is 29.25% higher than the same period last year.

Over the weekend, Argentina’s President Milei announced a reduction in the corn export tax from 12% to 9.5%. According to AgRural, Brazil’s second corn crop harvest was 68% complete as of Thursday, compared to 91% at the same time last year.