International Corn Market Update

29-Mar-2025 08:12 AM

International Corn Market Update
According to the weekly Commitment of Traders (COT) data, managed money reduced its net long positions in corn futures and options by 32,663 contracts for the week ending March 25. As of Tuesday, the net long position stood at only 74,607 contracts. Meanwhile, commercials reduced their short positions, bringing the net short down by 55,755 contracts, settling at 369,005 contracts.
As per the Export Sales data, total export commitments reached 53.06 MMT as of March 20, which is 24% higher than the same period last year. This represents 85% of the USDA’s export forecast, slightly below the 86% average pace for this period.
The Grain Stocks data is scheduled for release on Monday, with a Bloomberg survey estimating corn stocks at 8.153 billion bushels (bbu) as of March 1. Ahead of the Prospective Plantings Report, corn acreage is projected at 94.4 million acres, within an expected range of 92.5 to 96.6 million acres.