International Corn Market

11-Jun-2025 08:30 AM

International Corn Market
Ahead of Thursday’s USDA report, analysts expect old crop US ending stocks to be lowered by 23 million bushels to 1.392 billion bushels. The new crop estimate will also be updated, with the Bloomberg survey average trade guess at 1.789 billion bushels, down 11 million bushels from last month.
Crop Progress data showed planting pace in the eastern regions still lagging, with Indiana 3%, Kentucky 7%, Ohio 5%, and Pennsylvania 6% behind their respective averages. Nationwide crop condition ratings were 71% good to excellent, up 3 percentage points from the previous week. This equals a 378 reading on the Brugler500 index, up 3 points on the week. By state, ratings declined in Nebraska by 2 points, Kansas by 4, and Indiana by 3, while improvements were noted in Illinois up 7, Iowa up 2, Minnesota up 5, Ohio up 11, North Dakota up 12, and South Dakota up 7.
Several private export tenders from South Korea resulted in purchases totaling 269,000 metric tons of corn, though the origin was not disclosed. Brazil’s ANEC estimates June corn exports at 923,401 metric tons, up nearly 88,000 metric tons from their previous projection.