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:
| Country | Harvest, mln tons | Exports, mln tons | Reserves, mln tons |
| Argentina | 51 (0) | 36 (0) | 2,79 (+1,05) |
| Brazil | 127 (0) | 49 (0) | 2,84 (0) |
| Russia | 13 (-0,5) | 3,3 (-0,5) | 0,31 (0) |
| South Africa | 17(0) | 3,2(0) | 1,46 (0) |
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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