Corn and soybeans globally: projections for the 2024/2025 harvest USDA – December 2024

Published 2024년 12월 20일

Tridge summary

The article forecasts a slight decrease in the global corn production for the 2024/25 marketing year, with a projected drop of 1.0% from the previous year, totaling around 1,217.9 million tonnes. This decline is primarily due to a reduction in production estimates for the United States, EU, and Ukraine, while China and Brazil are expected to see slight increases. Globally, corn exports are anticipated to remain stable at 193.0 million tonnes, with the United States seeing an 8.0% growth. In contrast, global soybean production is projected to increase by 8.2% for the 2024/25 marketing year, driven by significant growth in South American countries like Brazil and Argentina. This rise is expected to result in an increase in soybean stocks by 17.6%.

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

Original content

World corn production for the 2024/25 campaign would be around 1,217.9 million tonnes (Mt), which represents a drop of 1.0% compared to the 2023/24 cycle, whose latest estimate consolidates 1,229 Mt. For the United States, production would reach 384.6 Mt, falling 1.3% compared to the previous campaign (389.7 Mt), while China would increase its harvest by 1.1%, reaching 292.0 Mt. In turn, the European Union would decrease by 6.3%, with 58.0 Mt, while Ukraine, with 26.5 Mt, would record a drop of 18.5% compared to the 32.5 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, increasing 2.0% compared to the previous cycle. World corn exports would remain at 193.0 Mt in this new campaign. The United States would lead export activity with 62.9 Mt and would grow 8.0% compared to the previous campaign, followed by Brazil, Argentina and Ukraine ...

Source: 3tres3