USDA analysts left unchanged the estimate of corn production in Ukraine
USDA analysts forecast the world corn production in 2024/25 season at 1 214.35 mln tonnes (-3.54 mln tonnes to the previous forecast). The estimate of world corn exports is 191.41 mln tonnes (-1.63 mln tonnes), the forecast of ending stocks is 293.34 mln tonnes (-3.1 mln tonnes). This is stated in the USDA report for January.
The forecast for the corn harvest in Ukraine remained unchanged – 26.5 mln tonnes, the exports estimate is also 23 mln tonnes, and the ending stocks are 0.64 mln tonnes.
USDA analysts lowered by 7.01 mln tonnes to 377.63 mln tonnes the forecast of corn production in the US, the export forecast is 62.23 mln tonnes (-0.64 mln tonnes), ending stocks will decrease by 5.03 mln tonnes to 39.12 mln tonnes.
Forecast for major corn exporters for MY 2024/25:
| Country | Harvest, mln tons | Export, mln tons | Reserves, mln tons |
| Argentina | 51 (0) | 36 (0) | 2,79 (0) |
| Brazil | 127 (0) | 47 (-1) | 2,84 (0) |
| Russia | 13,25 (+0,25) | 3,3 (0) | 0,36 (+0,05) |
| South Africa | 17(0) | 2,8(0) | 1,41 (0) |
The corn harvest in China amounted to 294.92 million tons (+2.92 million tons), analysts call it a record. Imports amounted to 13 mln tonnes (-1 mln tonnes), ending stocks – 206.18 mln tonnes (+1.91 mln tonnes).
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