The USDA lowered its expectations of world corn exports in 2020/21

13 Jan, 2021
The USDA lowered its expectations of world corn exports in 2020/21
In the most recent report, USDA analysts lowered their forecast for world corn exports in 2020/21 to 181.36 million tons from 184.66 million tons in the previous estimate, mainly due to a decrease in corn exports for the US (-2) and Argentina (-1.5).

The forecast for corn imports has been raised for China and the EU:

  • China is expected to import 17.5 million tons (+1 and 7.6 million tons in 2019/20)
  • EU is predicted to import 18 million tons (-1 and 18.6)

The world corn production will be 1.134 million tons (1.444 and 1.116), including

  • Argentina- 47.5 million tons (49 and 51)
  • Brazil- 109 million tons (110 and 102)
  • EU- 63.6 million tonnes (63.7 and 66.7)
  • US- 360.3 million tons (368.5 and 346) 
  • India- 28.5 million tons (28 and 28.6)

The world's ending stocks of corn will reach a total of 283.8 million tons (288.9 and 303), including:

  • Brazil- 6.4 million tons (7.4 and 5)
  • EU- 7.1 million tons (7.3 and 7.2)
  • Mexico- 3.04 million tons (3.4 and 3.3)
  • United States- 39.4 million tons (43.2 and 48.8)