International Corn Market

10-May-2025 08:09 AM

International Corn Market
The USDA reported a private export sale of 288,000 metric tons (MT) of corn to Mexico, with 95,100 MT slated for 2024/25 and 192,900 MT for 2025/26.
Speculators reduced their net long position in corn futures and options by 57,436 contracts as of May 6, bringing it down to just 13,893 contracts, the lowest since early November.
According to Thursday’s Export Sales data, total U.S. corn export commitments have reached 60.411 million metric tons (MMT) — up 27% year-over-year and already exceeding the full-year totals of the last three years. That figure represents 93% of USDA’s current forecast, compared to the normal 95% for this point in the year.
Ahead of Monday’s WASDE report, analysts expect Argentina’s corn production to decline by 0.25 MMT to 49.75 MMT, while Brazil’s output is projected to increase by about 1 MMT to 126.96 MMT.
World ending stocks are forecast to fall slightly to 287.65 MMT for old crop and are expected at 297.36 MMT for new crop.