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The U.S. Department of Agriculture (USDA) increased its forecast for global corn production in the MY 2026/27 to 1.3 billion tonnes in its June WASDE report, up 5 million tonnes from the May estimate. Global corn exports are projected at 207.61 million tonnes, while ending stocks were raised to 281.22 million tonnes.
Ukraine’s outlook remained unchanged. USDA continues to forecast the country’s corn harvest at 30 million tonnes, exports at 23 million tonnes, and ending stocks at 2.56 million tonnes. The figures confirm expectations for stable production and export potential in the upcoming season.
The world’s leading corn exporters are expected to remain the United States, Brazil, and Argentina. Brazil’s crop is forecast at 139 million tonnes, while Argentina is expected to harvest 55 million tonnes. China’s corn production is projected at 307 million tonnes, with ending stocks estimated at 166.13 million tonnes.
| Country | Production, mln t | Exports, mln t | Ending Stocks, mln t |
|---|---|---|---|
| Argentina | 55 (0) | 43 (0) | 4.01 (+0.50) |
| Brazil | 139 (0) | 44 (0) | 11.10 (-0.28) |
| Russia | 15.8 (0) | 4 (0) | 0.91 (0) |
| South Africa | 16.5 (0) | 2 (0) | 2.39 (0) |
Analysts note that higher global corn production and inventories are increasing available supplies on the world market. One of the main drivers behind the larger global balance is India, where USDA raised crop estimates following revisions to planted area and yield data. The increase in supply could put additional pressure on global corn prices during the new season.
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