International Maize Market Update:

28-Jan-2025 08:10 AM

International Maize Market Update: 
The USDA reported private export sales of 139,000 metric tons of corn to Mexico for 2024/25 shipment this morning. On Sunday, President Trump threatened an emergency 25% tariff on all Colombian goods and sanctions after the country rejected two deportation flights. Colombia, a significant U.S. corn and ethanol buyer, responded with a threat of a 25% retaliatory tariff. However, after Colombia agreed to all of the U.S. President's conditions, Trump held off on imposing the tariffs and sanctions, contingent on Colombia honoring the agreement. USDA export inspection data showed corn shipments at 1.247 MMT (49.09 MBu) for the week ending January 23, with total marketing year shipments at 20.497 MMT (806.92 MBu). As of last Thursday, Brazil’s first corn crop harvest in the central-south region was 9% complete, while the second crop planting was 2.2% finished.