Brazil's corn production is expected to decline in 2023/24 due to high production costs and the impact of El Niño on weather. The US Department of Agriculture predicts a decrease from 135 million tons to 130 million tons. Brazil flooded the market with corn this year, leading to lower incomes for farmers and lower plantings next season. Despite the lower harvest, demand for Brazilian corn remains high, particularly from China, although prices may rise slightly due to currency appreciation. Brazil has become the world's largest exporter of corn, surpassing the United States.