International Corn Market Update

11-Apr-2025 08:21 AM

International Corn Market Update
(Week Ending April 3)
According to export sales data, total corn sales for the week ending April 3 were 785,583 metric tons (MT) — the lowest in the past 13 weeks, yet still within the expected range. South Korea was the largest buyer with 204,200 MT, followed by Colombia with 196,700 MT and Japan with 180,800 MT.
For the 2025/26 marketing year, total sales were 236,200 MT, surpassing estimates that ranged from 0 to 150,000 MT. Most of this was sold to Mexico (226,200 MT), with the remaining going to Japan.
In the USDA’s monthly WASDE report, the U.S. ending stocks forecast was cut by 75 million bushels (mbu), bringing the total to 1.465 billion bushels (bbu). This reduction was primarily due to a 100 mbu increase in export estimates, partially offset by a 25 mbu decrease in feed and residual use.
No changes were made to South American production figures — Argentina's crop is still estimated at 50 million metric tons (MMT) and Brazil's at 126 MMT. However, global ending stocks fell by 1.29 MMT compared to last month, now at 287.65 MMT.
Meanwhile, Brazil’s CONAB raised its corn production estimate by 1.98 MMT, bringing it to 124.75 MMT, mainly due to an increase in the second crop. Additionally, Rosario Grains Exchange increased Argentina’s crop forecast by 4 MMT, now projecting 48.5 MMT.