USDA analysts left the forecast for the corn harvest in Ukraine unchanged
USDA analysts forecast world corn production in MY 2025/26 at 1,286.58 million tons (-2 million tons compared to the previous forecast). Estimated world corn exports are 201.7 million tons (+0.85 million tons), forecast ending stocks are 281.4 million tons (-1.14 million tons). This is stated in the USDA report for September.
Forecast for corn harvest in Ukraine is 32 million tons, estimated exports are 25.5 million tons, ending stocks are 1.15 million tons (+0.2 million tons).
USDA analysts have again raised their forecast for US corn production to 427.11 million tons (+1.85 million tons), export forecast to 75.57 million tons (+2.54 million tons), and ending stocks to 53.58 million tons (-0.19 million tons).
Forecast for major corn exporters for MY 2025/26:
| Country | Harvest, mln tons | Export, mln tons | Ending stocks, mln tons |
| Argentina | 53 (0) | 37 (0) | 3,19 (0) |
| Brazil | 131 (0) | 43 (0) | 3,43 (-0,16) |
| Russia | 14,1 (-0,9) | 3 (-0,6) | 0,96 (-0,2) |
| South Africa | 16,5 (0) | 2 (+0,1) | 1,85 (+0,2) |
China’s corn crop is estimated at 295 million tons. Imports will be 10 million tons, ending stocks — 177.07 million tons (-1.09 million tons).
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