Corn Futures See Modest Gains Amid Mixed Export Data

Corn futures ended Monday with fractional gains, though mixed export data may influence future pricing. Analysts note a 16.57% year-on-year increase in shipments, but down from last week, indicating varying demand levels.

Date: 25-03-2025

AI Rating: 6

Market Status: Corn futures saw fractional gains, indicating a slight upward trend despite early session weakness. The CmdtyView national average cash corn price increased by 1/2 cent to $4.29 ¼.

Export Data: The latest report indicated total corn shipments of 1.463 MMT (57.6 mbu) for the week ending March 20, representing a 16.57% increase year-on-year yet a decline of 13.54% from the previous week. While the annual growth in exports is positive, the week-on-week drop suggests some volatility in demand which could impact future pricing. Notably, Mexico emerged as the top destination for corn, highlighting regional demand trends.

Overall Export Performance: Year-to-date exports reached 32.268 MMT (1.27 bbu), up by 32% compared to the same period last year. This figure indicates a strong performance in the corn export sector, which may bolster market confidence.

Crop Production Estimates: AgRural's estimates of the second crop corn in Brazil came out at 87.9 MMT, with the overall crop raised to 121.8 MMT. Concerns regarding irregular rainfall may pose risks to production levels, which could influence supply and thus pricing.

Overall, while the positive year-on-year export growth and slight increases in futures prices may suggest stability, the mixed weekly export performance and potential production risks could create uncertainty in the market.

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