South American Corn Prospects

The USDA estimated  the combined 2020 Brazil- Argentina corn crop corn crop at 151 million tonnes (5.9 billion bushels) this month which compares to 152 million tonnes (a rounded six billion bushels)  a year ago.  

Combined exports were forecast at 2.7 billion bushels in the current local crop year compared to three billion bushels a year ago.

Although down from a year ago the data suggest competition from South American corn will still limit US corn exports through the end of the calendar year  compared to a few years earlier.

Charts based on March 2020 estimates.