Global corn production and prices

Global corn production is expected to fluctuate at the same levels in 2023/2024, as predicted by the September report of the US Department of Agriculture (USDA). Production remains essentially unchanged as the increase in Ukraine (although still below the 5-year average) is largely offset by the decline in the EU. According to the USDA, corn production in the EU is down based on smaller than last year productions in France and Bulgaria, partially offset by an increase in Germany. Global corn stocks, as forecast by the USDA, are expected to rise by 2.9 million tonnes (to 314 million tonnes) due to good production in Brazil, Mexico, Ukraine and China, partially offset by a drop in Argentina. However, in the US the average corn price received by producers for the season remains unchanged at $4.90 per bushel. In Greece, the corn market has not yet clarified where it will go. There is a liquidity in the market for the corns that will start to be harvested more intensively in the coming ...