USDA Grain Trade Forecast

Grain

The US Department of Agriculture (USDA) has revised its forecast for US corn exports in the current 2020/21 trade year (October-September) to 73.0 Mt, up from 70.0 Mt in May, citing the strong pace of shipments through May.

Alongside this, the agency downgraded its forecast for Brazilian corn exports this market year to 32.0 Mt, from 34.0 Mt previously, to reflect a smaller crop due to dry conditions.

A rebound in Brazilian corn exports is projected for 2021/22 to 40.0 Mt, while US shipments are expected to pull back to 62.0 Mt.