International Corn Market

07-Feb-2025 08:01 AM

International Corn Market
The export sales data for 2024/25 reported bookings of 1.477 million metric tons (MMT) of corn, which was at the upper end of the estimated range of 0.85 to 1.5 MMT for the week ending January 30. This was 8.7% higher compared to the previous week and 21.1% higher compared to the same week last year. Mexico remained the largest buyer, purchasing 251,700 MT, followed by Japan with 214,000 MT and South Korea with 210,000 MT. Sales for 2025/26 stood at 49,978 MT, within the middle of the 0-100,000 MT trade range.
After the settlement of a trade dispute panel in December, Mexico lifted its ban on GMO corn imports for human, animal, and industrial use.
Argentina's corn crop was estimated with 25% classified as excellent and 49% as normal, which was 3% and 1% lower compared to the previous week, while the poor category saw an increase of 4%, now standing at 26%.