USDA Grains: World Markets and Trade
13 July 2015
USDA Grains: World Markets and Trade - 13 July 2015
Record Brazilian Corn Exports
Brazilian corn exports are projected to rise to a new record for 2015/16 (Oct/Sep basis) based on a forecast record harvest in 2014/15, supporting Brazil as the world’s second-largest corn exporter. This is a continuation of a higher plane of production and exports for Brazil that began in response to elevated global corn prices a few years ago. Production and exports have also been bolstered by 4 years of favorable weather (particularly for second-crop corn), government support programs for producers, and strong global import demand.
Larger supplies are able to meet both growing demand for feed use and exports. The bulk of export shipments are from the safrinha crop and occur from August through December, after the soybean export program, and compete directly with U.S. and Ukrainian corn supplies during the Northern Hemisphere harvests.
In recent years, close to half of Brazilian shipments were to Southeast and East Asia, eroding market share for both the United States and Argentina. Brazil has also been a top supplier to the Middle East where it competes with Ukraine and Argentina. In 2015/16, Brazil should benefit from larger import demand from the EU and tighter exportable supplies from both Ukraine and Argentina.
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