USDA reduced the forecast of corn harvest and exports from Ukraine

USDA analysts forecast the world corn production in 2024/25 season at 1 217.19 mln tonnes (-1.38 mln tonnes to the previous forecast). The estimate of the world corn exports is 190.5 mln tonnes (-0.87 mln tonnes), the forecast of the ending stocks is 306.52 mln tonnes (-1.83 mln tonnes). This is stated in the USDA report for October.

The forecast for corn harvest in Ukraine decreased by 1 mln tonnes to 26.2 mln tonnes, exports are estimated at 23 mln tonnes (-1 mln tonnes), ending stocks – 0.63 mln tonnes (-0.1 mln tonnes).

USDA analysts increased the estimate of corn production in the United States – 386.18 million tons (+0.45 million tons), the export forecast is unchanged – 59.06 million tons (+0.64 million tons), ending stocks will decrease by 1.49 million tons – to 50.77 million tons.

Forecast for major corn exporters for MY2024/25:

USDA experts forecast the corn harvest in China at 292 mln tonnes, imports – 19 mln tonnes (-2 mln tonnes), ending stocks – 209.34 mln tonnes (-2 mln tonnes).

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Tags: corn, USDA Report, crop forecast, Ukraine