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These are the highlights from the latest grain and oilseed estimates reports released by the USDA on April 10:
Corn
Production
- World corn production for the 2024/25 marketing year is expected to be around 1,215.1 million tons (Mt), a decrease of 1.2% compared to the 2023/24 season, last estimated at 1,229.3 Mt.
- United States production is expected to reach 377.6 Mt, down 3.1% compared to the previous season (389.7 Mt). China is expected to increase its harvest by 2.1%, reaching 294.9 Mt. The European Union is expected to decrease by 4.3%, with 59.3 Mt. Ukraine, with 26.8 Mt, is expected to see a 17.5% decrease compared to the 32.5 Mt consolidated in the previous season.
- Brazil's production is forecast to reach 126 Mt, an increase of 5.9% compared to the 2023/24 season (119 Mt), while Argentina's crop is expected to reach 50 Mt, down 2.0% compared to the previous season (51 Mt).
Exports
- World corn exports are expected to fall by 2.4% in this new season, consolidating 188.7 Mt.
- The United States would lead exports with 64.8 Mt, an increase of 11.2% over the previous season, followed by Brazil, Argentina, and Ukraine with 44, 36, and 22 Mt, respectively.
Imports
- China is expected to reduce its demand for imported corn by 65.8%, importing just 8 Mt in this new season. The European Union is expected to import 20.0 Mt, representing an increase of 0.8% compared to 2023/24 (19.8 Mt).
Stocks
- Ending stocks are expected to fall by 8.5% globally, to 287.6 Mt. In the United States, stocks are expected to fall by 16.9%, while in Brazil and Ukraine, they are expected to fall by 60.1% and 30.9%, respectively.
Soybeans
Production
- Global soybean production for the 2024/25 season is forecast to increase by 6.1% over the previous season, going from 396.4 to 420.6 Mt.
- Estimates for South American crops indicate a 9.4% increase for Brazil to 169 Mt, and a 1.6% increase for Argentina to 49.0 Mt.
- Paraguay is expected to reduce its production by 2.7% compared to the 2023/24 season (11.0 Mt), consolidating a crop of 10.7 Mt.
- The United States crop is estimated at 118.8 Mt, an increase of 4.9% over the previous season (113.3 Mt).
Exports
- Brazil would lead exports with 105.5 Mt, 1.3% higher than in 2023/24, while the United States would reach an export volume of 49.7 Mt, representing a 7.7% growth compared to the previous season (46.1 Mt).
- Argentina's exports are projected at 4.5 Mt, a 12.0% decrease compared to the previous season (5.1 Mt).
Imports
- China is expected to import 109 Mt, 2.7% below the previous season's total (112.0 Mt).
Stocks
- Global ending stocks of the oilseed are expected to increase by 6.2% to 122.5 Mt, supported by stock increases in the United States, Brazil, and Argentina.
April 10, 2025/ 333 Latin America with USDA data.
https://apps.fas.usda.gov/
