Brazil’s growth challneges US dominance in corn exports

Ranking at the top of global agricultural production, Brazil and the United States have stood out globally in terms of corn exports.

However, a significant shift in the landscape is about to unfold. For the first time, these two nations will be nearly tied in the volume of corn available for international trade in 2024, with just over 100 million tons each.

Until now, the United States has maintained its leadership in corn exports. Nevertheless, Brazil has experienced remarkable growth in corn cultivation, bolstering its availability for export, while there has been a decline in American production.

In the cycle that ended in 2022, Brazil exported approximately 32 million tons of corn. For the 2023 crop, it is expected that this figure will reach a historic milestone of 54 million tons, according to data from the United States Department of Agriculture.

Meanwhile, American farmers project to export 45 million tons of corn this year, representing a 22% decrease compared to the 63 million tons shipped in the previous season.

Brazil has solidified its position as a significant player in the international corn market, and the expansion of cornfields is directly linked to the cultivation of soybeans, the flagship crop of Brazilian agribusiness. In many cases, corn and soybean crops are alternated in the same area and within the same year, contributing to maximizing production and enhancing the country’s competitiveness in the sector.

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