Global Corn Deficit Set to Reach 30 Million Ton Milestone

A global corn deficit could be the largest in over three decades, according to latest estimates from the USDA. The projection indicates that global corn consumption in 2026/27 may exceed production by nearly 30 million tons.

The imbalance is largely due to lower corn production in key exporting countries. Major suppliers' combined corn and wheat output could post its largest volume decline since 1993/94, limiting exportable supply available to the global market.

Rising domestic corn use for ethanol production in Brazil is also reducing export potential, even in years of large harvests. The structural issue of slow grain acreage expansion contributes to the growing dependence on strong yields.