USDA analysts lowered estimates of corn exports from Ukraine and imports to China
USDA analysts forecast the global corn production in 2024/25 season at 1 212.47 mln tonnes (-1.88 mln tonnes to the previous forecast). The estimate of the world corn exports is 189.23 mln tonnes (-2.18 mln tonnes), the forecast of the ending stocks is 290.31 mln tonnes (-3.03 mln tonnes). This is stated in the USDA report for February.
The forecast for the corn harvest in Ukraine remained unchanged – 26.5 mln tonnes, the export estimate decreased – 22 mln tonnes (-1 mln tonnes), ending stocks – 0.64 mln tonnes.
USDA analysts left unchanged the forecast of corn production in the United States – 377.63 million tons, exports forecast – 62.23 million tons, ending stocks – 39.12 million tons.
Forecast for major corn exporters for MY 2024/25:
| Country | Harvest, mln tons | Exports, mln tons | Reserves, mln tons |
| Argentina | 50 (-1) | 36 (0) | 2,79 (0) |
| Brazil | 126 (-1) | 46 (-1) | 2,84 (0) |
| Russia | 13,25 (0) | 3,3 (0) | 0,36 (0) |
| South Africa | 17(0) | 2,6(-0,2) | 1,41 (0) |
The corn harvest in China is estimated at 294.92 million tons. Imports will amount to 10 mln tonnes (-3 mln tonnes), ending stocks – 203.18 mln tonnes (-3 mln tonnes).
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Read also
Romania proposes joint NATO command to protect the Black Sea
Drought in India threatens sugar and biofuel production
Record sunseed harvest in Russia threatens to drive down prices in Kazakhstan
Corn drying costs in Ukraine could exceed the value of the grain at current prices
Oilseeds remain the only profitable segment of crop production in Russia
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon