International Corn Market Update

24-Jan-2025 08:11 AM

International Corn Market Update
For the week ending January 17, weekly EIA ethanol production totaled 1.099 million barrels per day (bpd), down 4,000 bpd from the previous week. Ethanol stocks exceeded expectations, rising by 866,000 barrels to 25.874 million barrels. Exports increased by 44,000 bpd, reaching 169,000 bpd.
Export sales for 2024/25 corn are expected to range between 0.7 to 1.7 million metric tons (MMT) for the week ending January 16, while bookings for 2025/26 are anticipated between 0 and 50,000 metric tons (MT).
In Argentina, crop condition ratings are declining despite recent rains in key regions. The Buenos Aires Grain Exchange has lowered its crop estimate by 1 MMT to 49 MMT.