International Corn Market
21-Mar-2025 08:33 AM
International Corn Market
According to the Export Sales report, old crop corn sales for the week ending March 13 totaled 1.497 million metric tons (MMT), which was on the higher end of the estimated range of 0.8 to 1.7 MMT. This marked a four-week high and was 26.2% higher than the same week last year.
Japan was the largest buyer, purchasing 487,700 metric tons of corn. South Korea followed with 397,200 metric tons, and Mexico bought 303,700 metric tons. Sales to unknown destinations were reduced by 383,600 metric tons, mostly switched to Japan (198,000 MT) and South Korea (194,000 MT).
For the 2025/26 marketing year, sales totaled 61,375 metric tons, within the expected range of 0 to 100,000 MT.
The International Grains Council (IGC) on Wednesday raised its 2024/25 global corn production estimate by 1 MMT but lowered the carryover stock projection by 1 MMT to 274 MMT. Its initial outlook for 2025/26 projects a year-on-year increase of 52 MMT in production, with ending stocks expected at 280 MMT.
According to the Buenos Aires Grain Exchange, 14% of Argentina’s corn crop has been harvested so far.