International Corn Market

08-Apr-2025 08:09 AM

International Corn Market
One of the concerns related to tariffs—especially from a retaliatory standpoint—has been the 24% duty imposed on Japan in this latest round of tariffs. Later on Monday, President Trump directed Treasury Secretary Bessent and USTR Greer to begin talks with Japan.
The first official "Crop Progress Report" from NASS showed that as of April 6, 2% of the U.S. corn crop had been planted, which is in line with the 5-year average but slightly behind the same week in 2024.
Weekly export inspection data for the week ending April 3 showed total corn shipments at 1.583 million metric tons (62.3 million bushels). This was 3.89% lower than the previous week but 8.04% higher than the same week last year. Mexico was the largest destination, receiving 480,801 metric tons, followed by Japan with 383,994 metric tons, South Korea with 194,246 metric tons, and Colombia with 162,845 metric tons. Total corn shipments for the marketing year now stand at 35.582 million metric tons (1.4 billion bushels), which is 29.95% higher than the same week last year.