USDA raised its forecast for the global corn crop in 2024/25 MY
USDA analysts forecast global corn production in 2024/25 season at 1 224.79 mln tonnes (+4.25 mln tonnes to the previous forecast). The estimation of the world corn exports is 191.81 mln tonnes (+0.06 mln tonnes), the forecast of the ending stocks is 311.64 mln tonnes (+0.87 mln tonnes). This is stated in the USDA report for July.
The forecast for the corn harvest in Ukraine is 27.7 mln tonnes, exports are forecast at 24.5 mln tonnes, ending stocks – 0.68 mln tonnes (-0.8 mln tonnes).
USDA analysts increased the estimate of corn production in the United States – 383.56 million tons (+6.1 million tons), exports – 56.52 million tons (+0.64 million tons) and ending stocks – 53.26 million tons (-0.13 million tons).
Forecast for major corn exporters in 2024/25 MY:
| Country | Harvest, mln tons | Exports, mln tons | Reserves, mln tons |
| Argentina | 51 (0) | 36 (0) | 1,74 (0) |
| Brazil | 125 (0) | 49 (0) | 2,84 (0) |
| russia | 15 (-0,4) | 4,6 (-0,4) | 0,41 (0) |
| South Africa | 17(0) | 3,2(0) | 1,45 (-0,82) |
USDA experts forecast the corn harvest in China at 292 million tons, imports – 23 million tons, ending stocks – 212.84 million tons.
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