International Corn Market

31-May-2025 08:22 AM

International Corn Market
The USDA reported a private export sale of 210,560 metric tons of corn to unknown destinations this morning. Of this, 145,560 metric tons are scheduled for shipment in 2024/25 and 65,000 metric tons for 2025/26. Export sales data released today showed 916,712 metric tons of business for 2024/25, within the trader expectations of 0.75 to 1.4 million metric tons. Although this marks a 7-week low, it is 13.2% higher than the same time last year. Japan was the top buyer with 214,400 metric tons, followed by Mexico with 201,500 metric tons and Colombia with 157,900 metric tons. New crop sales totaled 31,000 metric tons, on the lower end of the estimated 25,000 to 400,000 metric tons.
Friday afternoon’s CFTC Commitment of Traders report showed that managed money net short positions in corn futures and options decreased by 2,450 contracts to 100,760 contracts as of May 27. Commercial net short positions also dropped by 22,231 contracts to 150,061 contracts by Tuesday.
Brazil’s corn crop estimate by Safras & Mercado has been increased by 3.89 million metric tons to 139.03 million metric tons, largely due to a 3.82 million metric ton boost in their second crop forecast. The USDA's estimate stands at 130 million metric tons.