International Corn Markets Overview

06-Dec-2024 08:07 AM

International Corn Markets Overview

The Export Sales Report for the week ending November 28 highlights strong corn sales, totaling 1.732 MMT, marking a four-week high. This figure exceeds the projected range of 0.75 to 1.5 MMT for 2024/25 corn. Compared to the previous week, sales increased by 63% and were 34.4% higher than the same period last year. Key buyers included Mexico (392,400 MT) and Japan (357,700 MT). Additionally, 22,098 MT of corn were sold for the 2025/26 marketing year, entirely purchased by Mexico, aligning with estimates of 0-200,000 MT.

October Export Performance
Data for October reveals 4.05 MMT (159.4 million bushels) of corn shipments, representing the highest October total since 2018. However, this was 5.39% lower than September's shipments. Distillers' grain exports reached a record-breaking 1.114 MMT, up 10.1% from the prior month. Ethanol exports, totaling 143.45 million gallons, were the second-largest for October historically but declined by 3.38% month-over-month.

Brazil's Corn Exports
Brazil's corn exports in November stood at 4.726 MMT, reflecting a significant decline from October and a 36.2% year-over-year decrease.