Corn International News

According to USDA’s export sales report, corn sales for the week ending October 1 totaled 769,468 metric tons. This was up 43.6% from the previous week but down 65.9% compared to the same week last year. Mexico was the largest buyer, purchasing 508,800 metric tons. Colombia purchased 196,600 metric tons, while Japan bought 96,800 metric tons.

The favorable harvest window may be somewhat shorter in the eastern United States. The remnants of Hurricane Isaias are expected to bring more than an inch of rain to parts of Indiana (IN) and Ohio (OH) over the next few days. Most of the rest of the country is expected to remain dry until next Wednesday or Thursday. However, parts of Iowa (IA), Missouri (MO), Minnesota (MN), Wisconsin (WI), and the Dakotas could receive 1 to 2 inches of rain.

USDA’s Crop Production report is expected to be updated on Friday. According to traders surveyed by Bloomberg, the average corn yield is expected to decline by 0.7 bushels per acre to 177.8 bushels per acre. Production is projected to fall by 67 million bushels to 15.733 billion bushels. The WASDE report is expected to show corn stocks increasing by 126 million bushels to 1.693 billion bushels. This is mainly attributed to the anticipated 173-million-bushel increase in the 2025/26 ending stocks estimate reported by NASS at the end of September.

Several South Korean importers purchased a total of 324,000 metric tons of corn through tenders overnight.