International Maize Market
19-Nov-2024 08:31 AM
International Maize Market
The international maize market is currently seeing significant activity, particularly in export deals and sowing progress.
US Maize Exports: In the week of November 14, the US exported 820,000 tons of maize. Notable buyers include Mexico, which took 396,000 tons, and Japan, which bought 130,000 tons. These exports contribute to a solid growth trend for US maize shipments this season.
Overall Exports Growth: Total maize exports from the US in the current season have reached 9.06 million tons, which is a 32% increase compared to the same period last year. This surge in exports reflects strong international demand for US maize.
Brazil Sowing: In Brazil, which is a major competitor in the global maize market, sowing of the 2024 crop reached 86% completion by November 14. This indicates a timely planting season, potentially contributing to a strong harvest in the coming months.
The combination of strong export demand and a solid sowing progress in Brazil is likely to keep global maize prices volatile in the short term.