Source: APKinform (Ukraine)
Brazil’s corn reserves have plunged to the lowest levels observed in 25 years, sparking significant concerns within the market, as reported by Reuters.
According to Conab, the current corn stock in the nation stands at a mere 2 million tons, marking the lowest figure since 1999. Meanwhile, the USDA anticipates that by the conclusion of the 2024/25 marketing year, stocks will reach approximately 3 million tons, the smallest amount seen in 23 years.
The outlook for Brazilian corn exports remains uncertain. Despite the USDA’s more favorable projections – estimating that exports will comprise roughly one-third of total production—actual shipments at the start of the year fell short of expected numbers.