March WASDE Report

The upcoming years of 2022/23 will witness significant shifts in global trade, particularly with regards to corn exports. Projections suggest that India, Ukraine, and Paraguay will see increased exports, while Argentina and the United States are expected to experience a reduction in this regard. On the other hand, Turkey, Iran, Malaysia, Chile, Colombia, Egypt, Morocco, Peru, and Taiwan are anticipated to witness a decrease in corn imports. Furthermore, foreign corn ending stocks are expected to decline from the previous month, primarily due to decreases in Ukraine and Brazil, which are partially offset by an increase in India. Overall, global corn ending stocks are projected to increase by 1.2 million tons, with a total of 296.5 million tons.