Brazil will be the largest corn exporter

Published 2023년 3월 20일

Tridge summary

The United States Department of Agriculture (USDA) has forecasted that Brazil will surpass the US as the world's largest corn exporter for the 2022-23 crop year, with an expected export of 50 million tons. This is a significant increase from the 7 million tons exported 15 years ago. The growth is attributed to the expansion of corn as a second crop and the recent market access provided by China. In contrast, US corn exports have seen a decline due to lower production and uncompetitive prices. Brazil's first shipment to China, its main trading partner, took place in November 2022.

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

Original content

Brazil is already the largest producer and exporter of soy in the world and our agro is about to gain new prominence on the world stage. The forecast of the United States Department of Agriculture (USDA) is that Brazil will export more corn than the United States this year. Brazil has exported more corn than the US only once before, in the 2012/13 drought year, when one of the country's worst droughts ever hit. The continued expansion of corn as a second crop and the recent opening to the Chinese market could mean that Brazil will assume the title of world's largest exporter of corn. In its March “World Agricultural Supply and Demand Estimates (WASDE)” report, the USDA raised its forecast for Brazilian corn exports to 50 million tons for the 2022-23 crop year. That will put Brazil ahead of the United States, the long-established world leader in corn exports. The United States is expected to ship 47 million tonnes to foreign buyers, two million tonnes less than the February ...

Source: Agrolink