USDA has not changed its forecast for corn production in Ukraine
The USDA’s July report forecasts global corn production in MY 2025/26 at 1,263.66 million tons, down 2.32 million tons year-on-year. Exports are pegged at 195.81 million tons, with ending stocks falling to 272.08 million tons. U.S. production is forecast at 398.93 million tons, while Ukraine’s harvest is seen at 30.5 million tons with exports of 24 million.
USDA analysts forecast world corn production in MY 2025/26 at 1,263.66 million tons (-2.32 million tons compared to the previous season). Estimated world corn exports are 195.81 million tons (-0.01 million tons), forecast ending stocks are 272.08 million tons (-3.16 million tons). This is stated in the USDA report for July.
Forecast for corn harvest in Ukraine is 30.5 million tons, estimated exports are 24 million tons, ending stocks are 0.6 million tons.
USDA analysts have lowered the forecast for corn production in the United States to 398.93 million tons (2.92 million tons), forecast exports are 67.95 million tons, ending stocks are 42.17 million tons (-2.29 million tons).
Forecast for major corn exporters for MY 2025/26:
| Country | Harvest, mln tons | Export, mln tons | Stocks, mln tons |
| Argentina | 53 (0) | 37 (0) | 3,19 (0) |
| Brazil | 131 (0) | 43 (0) | 3,59 (+1) |
| Russia | 15 (0) | 3,6 (0) | 1,16 (0) |
| South Africa | 16,5 (0) | 1,9 (0) | 1,65 (-0,01) |
The corn harvest in China is estimated at 295 million tons. Imports will be 10 million tons, ending stocks – 179.16 million tons (-2 million tons).
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Source : Ukr Agro Consult
