Global corn balance may tighten in the new season — IGC
In the 2026/27 season, global corn production is expected to decline while consumption continues to grow, increasing the risk of a tighter market balance. According to the International Grains Council, total output could fall to around 1.3 billion tonnes, below the current season’s level. The main reason is a reduction in planted areas in the United States and the European Union.
Additional risks to yields stem from disruptions in fertilizer markets linked to geopolitical tensions in the Middle East. These factors could negatively affect not only corn but also other crops, adding further uncertainty to global production prospects.
At the same time, global corn consumption is projected to keep rising and is expected to exceed production. Demand will be supported by the bioethanol sector and increased use of corn in animal feed.
As a result, global ending stocks may decline to around 294 million tonnes — the lowest level in three seasons. The sharpest reductions are expected in key exporting countries, including the United States, Brazil, Argentina, and Ukraine, which could provide additional support to global prices.
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