International Corn Market

30-May-2025 08:13 AM

International Corn Market
The U.S. Department of Agriculture (USDA) reported two private export sales of corn this morning: 104,000 metric tons sold to Mexico and 101,096 metric tons to unknown destinations for 2024/25 shipment.
The delayed EIA report showed ethanol production rose by 20,000 barrels per day to 1.056 million barrels per day in the week ending May 23 — the highest in the past eight weeks. Ethanol stocks fell by 663,000 barrels to 24.281 million barrels. Ethanol consumption by refiners also increased by 20,000 barrels per day to 939,000 barrels per day. Gasoline supply (a proxy for demand) hit its highest level since October at 9.452 million barrels per day.
Export sales data will be released on Friday, with traders expecting 2024/25 corn sales between 0.75 to 1.4 million metric tons, and 25,000 to 400,000 metric tons for the new crop.