NASHVILLE, TN – Transportation costs for U.S. grain exports eased in the second quarter of 2025, lowering landed costs for most routes and boosting inspection volumes. USDA’s Agricultural Marketing Service reported that Gulf-route transportation costs fell 1% for both corn and soybeans compared to last year, with ocean freight down 24%. Quarter-to-quarter, costs dropped 18% for corn and 22% for soybeans thanks to cheaper trucking and the seasonal reopening of the Upper Mississippi River.
Corn inspections through the Gulf reached 10 million metric tons (394 million bushels), up 43% year over year, while soybean inspections totaled 2.9 mmt (106 million bushels), up 7%. In the Pacific Northwest, transportation costs fell 7% for corn and 6% for soybeans from last year. Inspections there rose to 6.8 mmt (268 million bushels) of corn, up 26%, and 0.2 mmt (7 million bushels) of soybeans, up 222%.
Looking ahead, USDA projects U.S. corn exports in 2025/26 to climb 2% to 73.03 mmt (2.87 billion bushels), while soybean exports are expected to fall 9% to 46.40 mmt (1.70 billion bushels). Analysts say China’s absence from U.S. corn and soybean purchases remains a key uncertainty even as Mexico, Japan, and South Korea continue to anchor demand.
Farm-Level Takeaway: Cheaper freight is helping exports move, especially corn, but weaker soybean demand looms large. Farmers should watch Gulf and PNW flows closely as transportation and trade dynamics set the tone for the new marketing year.