Brazil set to lose No. 2 corn exporter ranking to Argentina, consultancy says
Brazil is expected to lose its position as the world’s second-largest corn exporter to Argentina in 2025/26, with exports forecast at 43 million tonnes versus Argentina’s 45 million tonnes. The shift reflects weaker shipments to Iran, while rising domestic demand from the ethanol and animal feed sectors is expected to support corn consumption.
Brazil is expected to lose its position as the world’s second-largest corn exporter to Argentina in the 2025/26 season, according to Hedgepoint Global Markets. The United States remains the leading global supplier.
The consultancy attributed the expected shift partly to difficulties faced by Brazilian exporters in shipping corn to Iran, one of the country’s largest markets for the grain. Argentina, meanwhile, has become more competitive following a strong harvest.
Hedgepoint expects Brazil to export 43 million metric tons of corn in 2025/26. The U.S. Department of Agriculture projects Argentine shipments at 45 million metric tons over the same period.
Despite the likely loss of market position, Brazilian corn exports are still forecast to rise from the previous season, when the country shipped 41.1 million metric tons abroad.
Iran was the leading destination for Brazilian corn in 2025, importing 9 million metric tons, Hedgepoint said.
During the first part of 2026, Iran purchased around 1.5 million metric tons of Brazilian corn, down from 2.3 million metric tons in the same period last year.
The table below, prepared using DataLiner data, compares corn export volumes recorded in the January-May period for the main international destinations against the same period last year:
Top Destinations for Corn Exports | Jan-May 2026 | WTMT
| FOREIGN COUNTRY | YTD Value | Diff YTD | %Growth | %MarketShare |
|---|---|---|---|---|
| EGYPT | 1.277.849 | 340.329,00 | 36.3% | 25.52% |
| VIETNAM | 1.011.702 | 685.915,00 | 210.5% | 20.21% |
| IRAN | 550.792 | -1.153.441,00 | -67.7% | 11.00% |
| ALGERIA | 428.033 | 176.433,00 | 70.1% | 8.55% |
| CHINA | 325.077 | 252.477,00 | 347.8% | 6.49% |
| MALAYSIA | 290.927 | 290.927,00 | 5.81% | |
| SAUDI ARABIA | 170.796 | -142.017,00 | -45.4% | 3.41% |
| UNKNOWN | 135.101 | 135.101,00 | 2.70% | |
| INDONESIA | 133.004 | 52.810,00 | 65.9% | 2.66% |
| MOROCCO | 124.329 | -32.123,00 | -20.5% | 2.48% |
Domestic demand is also expected to increase. Hedgepoint forecasts that corn use by Brazil’s ethanol industry will rise by 5.5 million metric tons from 2025 to 28.5 million metric tons.
Corn consumption for animal feed is projected to grow by 200,000 metric tons to 61.2 million metric tons.
Hedgepoint estimates Brazil’s 2025/26 corn crop at 140.3 million metric tons, slightly below the 140.5 million metric tons harvested in the previous season.
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Source : Datamar News
