International Corn Market

21-Jun-2025 08:16 AM

International Corn Market
The weather outlook for next week indicates heavy rains expected in parts of the Northeast, southeastern South Dakota, Minnesota, Wisconsin, and Michigan, with some areas likely to receive 1 to 5 inches of rain. Lighter precipitation is expected across the Southern Plains, Missouri, and the Eastern Corn Belt. Most of the Corn Belt will see heat, with temperatures forecasted to be 7 to 15˚F above normal over the next 5-10 days. Daytime highs above 100˚F are possible this weekend across the Plains and Western Corn Belt but are expected to moderate by early next week.
According to the USDA’s weekly Export Sales report released this morning, a total of 903,792 metric tons of corn were booked for the 2024/25 crop in the week ending June 12, which was within trade estimates of 600,000 to 1.2 million metric tons. This was up 14.2% from the prior week and 76.7% higher than the same week last year. New crop sales totaled 154,998 metric tons, near the upper end of the 0 to 200,000 metric tons estimate range. The USDA also announced a sale of 124,000 metric tons of corn to “Unknown Destinations” under the daily reporting system this morning.