USDA has increased its estimate of the corn harvest in Ukraine
USDA analysts forecast world corn production in the 2024/25 season at 1,217.89 million tons (-1.51 million tons to the preliminary forecast). The estimate of world corn exports is 193.04 million tons (+3.21 million tons), the forecast for ending stocks is 296.44 million tons (-7.7 million tons).This is stated in the USDA report for December.
Ukraine’s corn crop forecast increased by 0.3 million tons to 26.5 million tons, export estimate unchanged – 23 million tons, ending stocks – 0.64 million tons (+0.01).
USDA analysts left unchanged the estimate of corn production in the U.S. – 384.64 million tons, export forecast – 62.87 million tons (+3.81 million tons), ending stocks will decrease by 5.08 million tons – to 44.15 million tons .
Forecast for major corn exporters for MY 2024/25:
| Страна | Harvest, mln tons | Exports, mln tons | Balances, mln tons |
| Argentina | 51 (0) | 36 (0) | 2,79 (0) |
| Brazil | 127 (0) | 48 (0) | 2,84 (0) |
| Russi | 13 (0) | 3,3 (0) | 0,31 (0) |
| South Africa | 17(0) | 2,8(0) | 1,41 (0) |
USDA experts forecast China’s corn harvest at 292 million tons, imports at 14 million tons (-2 million tons), ending stocks at 204.27 million tons (-2 million tons).
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