Importance of Trade Series: Corn

Part One: Understanding Why Global Markets Matter to Illinois Corn Farmers

Trade is one of IL Corn’s top policy priorities because of its critical role in driving corn demand and supporting the agricultural economy. This article kicks off a trade series to explore the impact that international markets have on corn.

U.S. corn exports reached 58.1 million metric tons during the 2023/2024 market year (MY), shipping to 58 countries.

Top U.S. Corn Markets

1.     Mexico

·        23.5 million metric tons

·        $5.5 billion

2.     Japan

·        11.3 million metric tons

·        $2.5 billion

3.     Colombia

·        6.3 million metric tons

·        $1.4 billion 

The MY 2024/2025 is projected to be 59.06 million metric tons, which is 1.4% higher than MY 2023/2024.

Trade is a large driver for demand that grows the ag economy. Keeping a consistent and growing demand for exports is essential for Illinois corn farmers to maintain strong and competitive corn prices.

IL Corn is committed to advocating for policy that opens markets, reduces restrictions, and promotes U.S. corn.