International Corn Market
12-Jul-2025 08:24 AM
International Corn Market
Rain is forecasted for the coming week in the Central Corn Belt, while the northern part of the Eastern Corn Belt is expected to receive nearly 1 inch.
USDA’s balance sheet saw some updates today. On the old crop side, feed and residual use was lowered by 75 million bushels, while exports were increased by 100 million bushels. As a result, the 2024/25 carryover stock declined by 25 million bushels to 1.35 billion bushels.
This impacted the new crop as well. Production was reduced by 115 million bushels to 15.705 billion bushels due to lower planted acreage, although yield was kept steady at 181 bushels per acre. Feed and residual demand was also trimmed due to tighter supply. Consequently, stocks fell by 90 million bushels to 1.66 billion bushels.
USDA also increased its estimate for Brazil’s crop to 132 million metric tons, up by 2 million metric tons. World stocks for 2025/26 were cut by 3.16 million metric tons to 272.08 million metric tons.
According to Friday's CFTC Commitment of Traders report, as of July 8, speculators reduced their net short position in corn futures and options by 2,602 contracts, bringing the total to 203,861 contracts. Commercial traders increased their net short position by 3,650 contracts to 30,181.