Comparison of corn production costs in Brazil, the US, and Argentina

The article provides an overview of the global corn production, focusing on the United States, China, and Brazil as the leading producers, contributing 66% of the world's supply. Brazil's production has seen a significant increase, doubling in the last two decades, while the United States remains the largest producer and exporter. Argentina is notable as the third largest exporter. The article then compares the production costs per hectare across these three countries for the 2024/25 harvest, revealing that the United States has the highest operating costs, primarily due to the high use of nitrogen fertilizers and intense mechanization. In contrast, Brazil's lower operating costs are attributed to the use of nutrients from soybean crops, despite recent projections of increased costs. The article also discusses the impact of productivity on costs per bag and highlights the competitive advantages of the United States and Brazil in corn export markets. Furthermore, it touches on the dynamics of operating margins in the United States and Brazil, noting a shift in favor of the United States due to higher production costs and lower domestic corn prices.