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USDA makes further cuts in US corn production

Porto Alegre City - RS - Brazil 20230811

USDA report offer and demand
The USDA cuts once again the productivity and production of the corn harvest 23/24 in the United States

Source: USDA and Noticias Agrícolas

In the same way as the soybean harvest estimates, corn also suffered cuts, as expected by the market.

North American cereal productivity fell from 185.67 to 183.16 (1.35% reduction) bags per hectare, taking the harvest from 389.15 to 383.84 million tons (1.36% reduction, corresponding to 5.31 million tons).

Too many numbers:

  • Ending stocks fell from 57.45 to 55.93 million tons (2.65% less).

  • Exports, which fell from 53.34 to 52.07 million tons (2.38% less).

  • Imports were maintained at 640 thousand tons.

  • 134.63 million tons were maintained for domestic consumption and ethanol production.

Worldwide estimates:

In the global scenario, production was reduced, according to USDA estimates, from 1,224.47 to 1,213.50 billion tons, taking ending stocks from 314.72 to 311.05 million.

The bulletin brought an increase in Ukraine's corn production from 25 to 27.5 million tonnes, and ending stocks increased from 1.39 to 3.89 million tonnes.

The Brazilian and Argentine harvests remained at 129 million and 54 million tons, respectively.

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