International Corn Market

07-Jan-2025 08:37 AM

International Corn Market
According to CFTC's Commitment of Traders data, traders added 67,859 contracts to their net long positions by December 31, bringing the total to 228,806 contracts—the highest since February 2023.
USDA's weekly Export Inspections report showed that 847,463 MT (33.36 mbu) of corn was shipped during the week ending January 2. This is 6.62% lower than the previous week and 22.42% lower than the same week last year. Mexico was the top destination, receiving 273,873 MT, followed by Colombia with 139,576 MT and Japan with 133,237 MT. Total shipments for the marketing year so far stand at 16.236 MMT (639.2 mbu), 24.49% higher than the same period in the 2023/24 marketing year.
Brazil's trade ministry reported December corn exports at 4.266 MMT, a 29.64% drop compared to December 2023.