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Corn: USDA Supply and Demand Report

Porto Alegre - RS - Brazil 20231109

Corn Supply and Demand, USDA Report. USDA supply and demand report, corn production and productivity in the United States.
USDA: Corn Supply and Demand Report

Source: USDA and Rio Grande Agrícola database

In its new bulletin, the USDA (United States Department of Agriculture) reports an increase in the production and productivity of American corn for the 2023/2024 harvest. With production of 386.97 million tons, rising 1.13% above the last report reported in October and, consequent increase in productivity reaching 182.96 bags per hectare, rising 1.10% above October.

The injection of an additional 4.3 million tons into the market, adjusts domestic production data, increases American exports to 52.71 million tons and also provides an increase in final stocks to 54.75 million tons, approximately 2.11% above that reported in October. This factor puts pressure on the Chicago Stock Exchange, bringing down its maturities, but not as much as what happened with soybeans, which had greater fluctuations.

At the end of today, Chicago maturities lost an average of 7 points, being quoted at 4.68 for December and 4.826 for March 2024.

The USDA maintained Brazilian production at 129 million tons and world stocks will be at 314.99 million tons, around 2.59 million tons more than reported in October.

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