International Corn Market

12-Jun-2025 08:12 AM

International Corn Market
According to the weekly EIA report, ethanol production reached a record 1.12 million barrels per day in the week ending June 6. This was an increase of 15,000 barrels per day compared to the previous week. Ethanol stocks fell by 706,000 barrels to 23.734 million barrels. Ethanol exports were 151,000 barrels per day, slightly higher than the previous week. Refiner inputs of ethanol rose by 3,000 barrels per day to 905,000 barrels per day. Weekly export sales data will be released on Thursday morning. The trade is expecting 0.7 to 1.2 million metric tons of corn sales for the 2024/25 crop in the week ending June 5. New crop sales are estimated to be between 0 and 200,000 tons. Before the USDA report due on Thursday, analysts estimate that old crop US ending stocks could be cut by 23 million bushels to 1.392 billion bushels. An updated new crop estimate will also be released, with the average trade estimate according to a Bloomberg survey at 1.789 billion bushels, down 11 million bushels from last month. Brazil’s production is estimated at 131.8 million metric tons, up 1.8 million metric tons from last month, while Argentina’s production is seen steady at 49.9 million metric tons. A Taiwan importer has purchased 65,000 tons of corn, expected to be sourced from Brazil.