International Corn Market

22-Jan-2025 08:11 AM

International Corn Market
According to Export Inspections data, 1.541 MMT (60.68 mbu) of corn was shipped in the week ending January 16. This represents double the amount shipped during the same week last year and a 6.88% increase from the previous week. Japan was the top destination with 405,010 MT, followed by Mexico with 347,525 MT, and South Korea with 274,155 MT. Total shipments for the marketing year reached 19.25 MMT (757.8 mbu), up 30.54% compared to the previous year.
On Monday, President Trump signaled a less aggressive stance on tariffs, delaying implementation to review current trade agreements and policies with China, Canada, and Mexico. He also indicated a potential February 1 start date for a 25% tariff on Mexico and Canada.
According to AgRural estimates, 4.1% of Brazil's first corn crop in the Center-South region had been harvested by last Thursday, while 0.3% of the second crop had been planted.