International Corn Market Update

04-Mar-2025 08:11 AM

International Corn Market Update
The USDA reported this morning a private export sale of 114,000 metric tons (MT) of corn to Mexico for the 2024/25 marketing year.
According to NASS's monthly Grain Crushing Report, a total of 457.389 million bushels (mbu) of corn were used for ethanol production in January. This represents a 4.6% decrease from the revised total for December (which was 6.5 mbu higher), but 3.7% higher than the same month last year. This brings the total corn crushed for ethanol in the marketing year to 2.322 billion bushels (bbu), which is 2.17% more than in the 2023/24 marketing year.
The export inspection report released this morning indicated that 1.351 million metric tons (MMT) (53.2 million bushels) of corn were shipped in the week ending February 27. This is 15.86% higher than last year and 17.91% higher than the same week last year.
The largest destination was Mexico, receiving 416,371 MT, followed by Japan with 272,570 MT and Spain with 138,421 MT.
Total exports for the marketing year have now reached 27.257 MMT (1.073 bbu), which is 31.69% higher than the same period last year.