International Corn Market

07-Mar-2025 08:06 AM

International Corn Market
According to the Export Sales report, U.S. corn bookings totaled 909,050 metric tons (MT), nearing the upper end of estimates for 2024/25 corn bookings. This was 15.3% higher than the previous week but 18.1% lower than the same week last year. Japan purchased 260,600 MT, while Mexico bought 249,900 MT. A net reduction of 248,100 MT from an unknown destination was later reassigned (149,600 MT to Japan and 54,000 MT to Mexico). New crop sales were recorded at 52,000 MT, aligning with analysts' estimates.
In January, U.S. corn exports reached a record high for the month at 6.162 million metric tons (MMT) (242.6 million bushels). This was 13.17% higher than the previous month and 43.34% above last year. Distillers' exports in January declined by 10.07% year-over-year to 811,480 MT. Ethanol exports for the month set a January record at 198.05 million gallons.
After several days of trade talks, President Trump has paused all tariffs under the USMCA trade agreement with Mexico and Canada for another month. Meanwhile, Canada has also postponed the planned tariffs on $125 billion worth of U.S. goods until April 2.