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

Published May 20, 2024

Tridge summary

The USDA's latest grain and oilseed estimates for the 2024/25 campaign show a slight decrease in global corn production by 0.7%, with the United States seeing a 3.1% drop to 377.5 Mt. However, China, Brazil, and the European Union are expected to increase their corn production. Global corn exports are projected to decrease by 3.2%, with the United States seeing a 2.3% increase in export activity. In contrast, global soybean production is expected to increase by 6.4%, with Brazil leading the increase. China's soybean imports are projected to rise by 3.8%, and ending stocks are expected to increase by 15.0% due to increases in stocks in the United States, Brazil, and Argentina.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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 ...
Source: 3tres3
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