USDA raised its estimate of corn production in Ukraine in MY 2024/25
USDA analysts forecast the global corn production in 2024/25 season at 1 214.17 mln tonnes (+1.7 mln tonnes to the previous forecast). The estimation of the world corn exports is 186.36 mln tonnes (-2.87 mln tonnes), the forecast of the ending stocks is 288.94 mln tonnes (-1.37 mln tonnes). This is stated in the USDA report for March.
The forecast for the corn harvest in Ukraine is 26.8 mln tonnes (+0.3 mln tonnes), the export estimate is unchanged at 22 mln tonnes, and the ending stocks are 0.74 mln tonnes (+0.1 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 and ending stocks – 39.12 million tons.
Forecast for major corn exporters for MY 2024/25:
| Country | Yield, mln tons | Export, mln tons | Reserves, mln tons |
| Argentina | 50 (0) | 36 (0) | 2,29 (-0,5) |
| Brazil | 126 (0) | 44 (-2) | 2,96 (+0,12) |
| Russia | 14 (+0,75) | 3,3 (0) | 0,91 (+0,55) |
| South Africa | 16 (-1) | 1,7 (-0,9) | 1,33 (-0,08) |
The corn harvest in China is estimated at 294.92 million tons. Imports will be 8 million tons (-2 million tons), ending stocks – 201.18 million tons (-2 million tons).
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