International Corn Market

27-Mar-2025 08:20 AM

International Corn Market
According to the weekly EIA report, ethanol production (and thus corn consumption) declined by 52,000 barrels per day, reaching 1.053 million barrels per day in the week ending March 21. Despite this production slowdown, inventories increased, rising by 775,000 barrels to 27.35 million barrels, particularly in the Midwest region.
During this period, exports increased by 53,000 barrels per day, reaching 164,000 barrels per day, while refiner ethanol inputs fell by 18,000 barrels per day to 878,000 barrels per day.
Export Sales data for the week ending March 20 is expected to show old crop sales between 0.6 and 1.6 million metric tons (MMT), while sales for the 2025/26 season are estimated in the range of 0-100,000 metric tons.
The quarterly grain stocks data will be released on Monday, with market analysts estimating 8.153 billion bushels (bbu) of corn on hand as of March 1. According to a Bloomberg survey, the range of estimates falls between 8.06 and 8.311 billion bushels.
Overnight, a Taiwanese importer purchased 65,000 metric tons of corn, with the U.S. expected as the likely origin. Meanwhile, another South Korean importer issued a tender for 280,000 metric tons of corn.