Trade Talk: High Exports, Low Prices

Lyndi Allen
October 30, 2025

High Export Volumes, Low Farm Returns

Corn exports continue to increase at record high volumes, but the value is at a stark low. Burdensome global supplies of corn have weighed on markets. Despite the strong export demand, the average price of corn received by Illinois farmers in marketing year 2024/2025 decreased $0.16 per bushel from marketing year 2023/2024—a four percent decrease.


U.S. corn remains competitive in the global market, but its value has not been sufficient enough to cover farmers' expenses. Farmers are still facing high input costs that haven’t returned to pre-pandemic levels, making the current price decline especially painful.

World Agricultural Supply and Demand Estimates (WASDE) are on hold due to the government shutdown. Once those reports are released, corn prices may shift. Until we can read the WASDE report again, investigate corn and corn co-product exports for yourself using the U.S. Grains and BioProducts Council’s tool.


As it stands now, U.S. corn exports are expected to be another record-setting volume at 2.97 billion bushels for the 2025/2026 marketing year, compared to the 2024/2025 record at 2.83 billion bushels. Despite a high expected volume of 2025/2026, the expected value is lower at $14.9 billion, compared to 2024/2025 exports at $15.9 billion.

Graph: Corn export volume vs. value. Volume (bars) higher than value (dashed line) from 2007-2023.

Illinois exports a larger share of its corn than most other Midwestern states—about 30% of our corn crop is destined for foreign markets. A significant portion of our ethanol, dried distiller's grain solubles (DDGS), and pork production leaves the state as well. Illinois’ natural resources and infrastructure help make us a top origin for foreign and domestic shipments.


Lower crop values are hindering farmers' ability to profit despite the export market demand. Farmers need competitive, market-driven demand to provide outlets for corn at profitable prices. Opportunities to grow demand must include high-volume markets that will lead to a significant enough demand to increase corn prices. A domestic opportunity to drive demand is expanding the use of higher ethanol blends, including passing legislation like the Nationwide Consumer and Fuel Retailer Choice Act of 2025 (year-round E15).


IL Corn continues to push Congress to pass legislation that will benefit corn farmers, despite the government shutdown. We will continue to monitor the effects of the government shutdown on farmers as well as legislative opportunities to drive U.S. corn demand. 

By Tara Desmond June 11, 2026
How much do you know about the farmers who came before you and the decisions that still shape Illinois agriculture today? That's what University of Illinois student Lyndon Shi set out to explore during his internship with IL Corn . What began as an archival research project became a deeper look at the history of farmer leadership, innovation and advocacy in Illinois. While digging through university archives, Lyndon uncovered an undigitized manuscript from agricultural economist Harold Guither explaining the case for checkoffs. When he mentioned the discovery to IL Corn Director Rod Weinzierl, he got an unexpected response: "Oh yeah, I know him. We worked with him." It was a reminder that agricultural history isn't as distant as it may seem. Lyndon's research connected two eras of the IL Corn Growers Association: the original organization founded in the 1890s and the modern ICGA established in the 1970s. He learned how University of Illinois agriculture dean Eugene Davenport helped organize corn growers and sent professors across the state on "Corn Gospel Trains" to share the latest farming research. One story stood out in particular: the adoption of hybrid corn. Farmers who once judged corn by the appearance of the ear had to shift their focus to yield. Lyndon sees a similar transition today, as farmers increasingly balance yield with profitability amid rising input costs. "Illinois corn farmers are very good at organizing, and they are genuinely very grassroots," Lyndon said. "They've had a much more active role in shaping policy rather than just being on the receiving end." This Summer and Fall, Lyndon will travel to Taiwan on a federal scholarship to study food security. He'll do so with a new appreciation for Illinois agriculture's global connections, including Taiwan's longstanding role as an important trading partner. Watch the full conversation on IL Corn TV to hear Lyndon's research firsthand and discover how Illinois corn's history continues to influence the future.
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