This episode offers an in-depth review of the global maize market as of July 27, 2025.
- Brazil’s maize market is facing structural pressures following the imposition of a 50% tariff tied to broader geopolitical tensions, although U.S. export flows remain unaffected. Currency volatility and domestic price adjustments are key outcomes. Harvest progress is rapid, especially in Mato Grosso, but storage capacity is strained due to overlapping soybean stock. Despite these challenges, Brazil is well-positioned for exports, with 9 million tons slated for international shipment. Conab’s revised forecast pegs 2025 production at 131.9 million tons, though infrastructure limitations continue to hinder export efficiency.
- Ukraine’s export activity remains strong, led by Turkey with imports of 5.5 million tons in the 2024–2025 season. Other major European importers include Italy, Spain, and the Netherlands, reinforcing Ukraine’s strategic role in the regional maize supply chain. High demand for older crop volumes is pushing prices upward, even as Ukraine maintains operational resilience.
- In the United States, strong futures performance on the Chicago Board of Trade is supported by vigorous export data, including major sales to South Korea and 135,000 tons to China. Russia is also expanding its export reach, setting new sales records to China and outpacing competitors like Ukraine and Myanmar. South Korea is actively building its reserves through strategic acquisitions, highlighting maize's importance in national food security planning.
- South Africa anticipates a rise in production to 16 million tons for 2025–2026, driven by favorable weather and efficient harvests. This supports both domestic consumption and renewed export growth to Asia. Meanwhile, India is shifting agricultural focus toward maize due to its growing role in ethanol production and more favorable market conditions than soybean or cotton. This strategic reorientation could reshape regional crop balances.
