Corn and soybeans: Global projections for the 2024/2025 harvest

Published 2024년 10월 22일

Tridge summary

The USDA's latest grain and oilseed estimates for the 2024/25 harvest cycle show a mixed picture across different regions. Global corn production is expected to decrease slightly by 0.7% from the previous year, led by drops in the European Union and Ukraine, while China and Brazil are expected to increase their production. The United States is also expected to see a slight increase in corn exports.

In contrast, global soybean production is projected to increase by 8.7% due to expected increases in South American harvests, particularly in Brazil and the United States. The United States is also expected to see a significant increase in soybean exports. China's soybean imports are expected to remain high, but there is some variation in the projections depending on the source.

Ending stocks for both corn and soybeans are expected to change significantly, with increases in the United States and Brazil, but decreases in Ukraine for corn, and decreases for both crops in the European Union. Overall, these projections could have significant implications for global market dynamics and prices for these key crops.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Here are highlights from the latest grain and oilseed estimates reports released by the USDA on October 11: World corn production for the 2024/25 harvest would be around 1,217.2 million tons (Mt), which represents a drop of 0.7% compared to the 2023/24 cycle, whose latest estimate consolidates 1,225 Mt. For the United States, production would reach 386.2 Mt, falling 0.9% compared to the previous harvest (389.7 Mt), while China would increase its harvest by 1.1%, reaching 292.0 Mt. In turn, the European Union would decrease by 4.0%. with 59.0 Mt, while Ukraine, with 26.2 Mt, would register a drop of 19.4% in relation to the 32.5 Mt consolidated in the previous cycle. For Brazil, production would reach 127 Mt, increasing 4.1% in relation to the 2023/24 harvest (122 Mt), while for Argentina, the harvest would be around 51 Mt, increasing 2.0% in in relation to the past cycle. World corn exports would decrease by 2.7% and would go from 195.8 Mt to 190.5 Mt in this new harvest. The ...

Source: 3tres3