USDA projects that Argentine exportable corn supply would increase in 2024/25

Published 2024년 11월 11일

Tridge summary

Argentina's corn exportable supply for the next campaign is projected to remain constant, with an estimated harvest of 48.0 million tons for 2024/25, despite potential climatic and biological challenges. This is due to high initial corn stock in the 2024/25 cycle, with exports expected to increase to 35.0 million tons from April 2025. However, domestic corn consumption is expected to decrease by 11% to 14.5 million tons due to the growing production of bioethanol leading to increased sorghum and corn sorghum (DDGS) production. The USDA's estimate of corn consumption is difficult to measure accurately due to the multiple uses of corn.

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

Original content

Argentina's exportable corn supply would remain constant in the new campaign despite the climatic and biological "ghosts" (such as Spiroplasma) that months ago predicted the possibility of a dramatic fall. The preliminary estimate from the USDA office in Buenos Aires projects an Argentine corn harvest of 48.0 million tons in 2024/25, while the latest official report from the US agency mentions a figure of 51.0 million. However, due to the high initial stock of corn in the 2024/25 cycle, USDA technicians in Buenos Aires predict that the total supply of the cereal will remain almost unchanged compared to 2023/24. In this framework, the exports expected for the new campaign, which begins in April 2025, are 35.0 million tons versus 34.0 million in the current commercial cycle. The estimate made by the Buenos Aires office of the USDA is quite close to the preliminary projection made by the Buenos Aires Stock Exchange, which foresees the possibility of an Argentine corn harvest of 47 ...

Source: Defrentealcampo