International Corn Market

08-Mar-2025 08:06 AM

International Corn Market
According to CFTC Commitment of Traders data, spec funds reduced their net long positions by 117,702 contracts in the week ending March 4, marking the second-largest weekly bearish move on record. This brought their net long position down to 218,752 contracts.
Export sales data shows that total corn export commitments stand at 49.567 million metric tons (MMT), which is 26% higher than last year. This accounts for 80% of the USDA’s current export forecast, surpassing the average pace of 77% for this time of the year.
Ahead of next week’s USDA report, analysts anticipate a 24 million bushel (mbu) reduction in the U.S. corn carryout projection, bringing total stocks down to 1.516 billion bushels (bbu).
This morning’s Brazilian trade data revealed that corn exports in February stood at 1.432 MMT, down from last year’s figure of 1.713 MMT.