International Corn Market Update:

06-Feb-2025 08:08 AM

International Corn Market Update:
The USDA reported 330,000 metric tons of private corn exports to Mexico for the 2025/26 shipment period. Trade estimates ahead of Thursday's USDA export sales report suggest that 2024/25 corn sales for the week ending January 30 could range from 850,000 to 1.5 million metric tons, while 2025/26 exports might be between 0 to 100,000 metric tons.
EIA data revealed that ethanol production rose by 97,000 barrels per day to 1.112 million barrels per day for the week ending January 31. Stocks also increased by 690,000 barrels to 26.412 million barrels. Refinery inputs rose by 28,000 barrels per day to 860,000 barrels per day, although exports dropped by 73,000 barrels per day to 106,000 barrels per day.
Census data showed that U.S. corn exports in December were the largest since 1989, reaching 5.445 million metric tons (214.36 million bushels), up 15.74% from the previous month. Distillers' exports in December were also record-high at 1.064 million metric tons, while ethanol exports set a monthly record at 194.4 million gallons.
South Korean importers have issued a tender for 140,000 metric tons of corn, with offers due Thursday. Algeria has also issued a tender for 240,000 metric tons of corn. ANEC estimates Brazil's corn exports in February could reach 1.03 million metric tons.