Global: USDA's first estimates for corn and soybean in the 2024/2025 campaign

We present highlights from the latest grain and oilseed estimates reports published by the USDA on May 10: World corn production for the 2024/25 campaign would be around 1,219.9 million tons (Mt), which represents a drop of 0.7% compared to the 2023/24 cycle, whose latest estimate consolidates 1,228 Mt. For the United States, production would reach 377.5 Mt, falling 3.1% in relation to the previous campaign (389.7 Mt), while China would increase its harvest by 1.1%, reaching 292.0 Mt. By On its side, the European Union would grow 6.2%. with 64.8 Mt, while Ukraine, with 27.0 Mt, would decrease by 12.9% in relation to the 31 Mt consolidated in the previous cycle. For Brazil, production would reach 127 Mt, increasing 4.1% compared to the 2023/24 campaign (122 Mt), while for Argentina the harvest would be around 51 Mt, falling 3.8% compared to the previous cycle . World corn exports would decrease by 3.2% and would go from 197.4 Mt to 191.1 Mt in this new campaign. The United States ...