International Corn Market

03-Jan-2025 08:07 AM

International Corn Market
The latest weekly EIA report, covering the week ending December 27, shows ethanol production reached 1.111 million barrels per day, up by 4,000 barrels per day from the previous week. Ethanol stocks rose by 565,000 barrels to 23.639 million barrels. Ethanol exports dropped by 67,000 barrels per day to 99,000 barrels per day, while refiner inputs decreased by 61,000 barrels per day to 859,000 barrels per day.
The monthly grain crushing data released this afternoon indicates that November's grind was 464.94 million bushels, down 0.4% from the previous month (after a 6 million bushel upward revision) but 1.7% higher compared to the same month last year. First-quarter corn grind rose by 2.29% from 2023 to 1.38 billion bushels.
Export sales data will be released Friday morning. Traders anticipate total bookings of 0.8–1.4 million metric tons for 2024/25 and 0–50,000 metric tons for 2025/26 during the week of December 26.
StoneX has revised its estimate for Brazil's 2024/25 corn production to 128.6 million metric tons, an increase of 0.3 million metric tons from its previous projection.