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These are the highlights of the grain and oilseed estimates for the 2025/26 season published by the USDA on December 9th:
Harvest projections for the main global producers of corn and soybeans - 2025/26 season versus 2024/25 - last updated: December 9, 2025. Prepared by 333 Latin America with data from FAS - USDA.
Corn Production
- Global corn production for the 2025/26 season is expected to be around 1283 million tons (Mt), a 4.3% increase compared to the 2024/25 season, last estimated at 1230.6 Mt.
- United States production is forecast to reach 425.5 Mt, up 12.5% from the previous season (378.3 Mt). China would remain at 295 Mt. The European Union would decrease by 3.9% to 56.8 Mt, and Ukraine, with 29 Mt, would see an increase of 8.2% compared to the 26.8 Mt in the previous season.
- For Brazil, production is expected to reach 131.0 Mt, down 3.7% from the 2024/25 season (136 Mt). Argentina's harvest would be around 53 Mt, 6.0% above the previous season (50 Mt).
Exports
- Global corn exports would increase 9.6% in this new season, reaching 205.1 Mt.
- The United States is expected to lead exports with 81.3 Mt, which would be a 12.0% increase from the previous season, followed by Brazil, Argentina, and Ukraine with 43, 37, and 23 Mt, respectively.
Imports
- China is forecast to increase its demand for imported corn by 338.8%, reaching 8 Mt in this new season, while the European Union is expected to import 20 Mt, an increase of 7.6% compared to the 2024/25 season (18.6 Mt).
Stocks
- Ending stocks are expected to decrease by 4.8% globally, reaching 279.2 Mt. United States stocks would increase by 32.5%. Brazil's would decrease by 66.1%.
Soybeans
Production
- Global soybean production for the 2025/26 season is expected to decrease by 1.1% compared to the previous season, going from 427.2 to 422.5 Mt.
- Estimates for South American harvests indicate a 2.0% increase for Brazil, which would reach 175 Mt, while for Argentina, a decrease of 5.1% is estimated, reaching 48.5 Mt.
- Paraguay is forecast to increase its production by 7.8% compared to the 2024/25 season (10.2 Mt), consolidating a harvest of 11 Mt.
- The United States harvest is estimated at 115.8 Mt, which would mean a decrease of 2.8% compared to the previous season (119.0 Mt).
Exports
- Export activity is expected to be led by Brazil with 112.5 Mt, up 9.1% from the 2024/25 season. The United States would reach an export volume of 44.5 Mt, a 13.1% decrease from the previous season (51.2 Mt).
- Argentina's exports are projected at 8.3 Mt, an increase of 4.8% compared to the previous season (7.9 Mt).
Imports
- China is expected to import 112 Mt, 3.7% above the previous season's total (108 Mt).
Stocks
- Ending stocks of the oilseed would decrease by 0.7% globally, reaching 122.4 Mt.
January 12, 2026/ 333 Latin America with data from USDA/ United States.
https://apps.fas.usda.gov/
