USDA analysts lowered the forecast of corn harvest in the US and the estimate of imports for China

USDA analysts forecast the global corn production in 2024/25 season at 1 217.19 mln tonnes (+2.21 mln tonnes to the previous forecast). The estimation of the world corn exports is 189.83 mln tonnes (-0.67 mln tonnes), the forecast of the ending stocks is 304.14 mln tonnes (-2.38 mln tonnes). This is stated in the USDA report for November.

The forecast for the corn harvest in Ukraine remained unchanged – 26.2 mln tonnes, the exports estimate is also unchanged – 23 mln tonnes, ending stocks – 0.63 mln tonnes.

USDA analysts reduced the estimate of corn production in the United States – 384.64 million tons (-1.54 million tons), the export forecast is unchanged – 59.06 million tons, ending stocks will decrease by 1.54 million tons – to 49.23 million tons.

Forecast for major corn exporters for MY 2024/25:

The USDA experts forecast the corn harvest in China at 292 mln tonnes, imports – 16 mln tonnes (-3 mln tonnes), ending stocks – 206.27 mln tonnes (-3.07 mln tonnes).

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Tags: corn, USDA Report, USA, Ukraine, China