Brazil Corn Exports Slow Down Amid Growing Competition

Brazil's corn exports have been slowing down due to increasing competition from other major producers like the US, Argentina, and Ukraine. According to Itaú BBA analysts, Brazilian corn has become more expensive compared to its international counterparts, making it less competitive in the global market.

The slowdown in corn exports became evident in July, when shipments fell 20% from the same month last year. The bank expects Brazil to export only 5.2 million metric tons of corn in August, down 35% from the 8.1 million metric tons shipped in August 2025.

The analysts at Itaú BBA are maintaining their forecast of 40 million metric tons for Brazil's corn exports in the February 2026-January 2027 marketing cycle. However, they warned that this estimate could be revised downward if August shipments come in weaker than expected.