This episode delivers a comprehensive overview of the global maize market.
- Brazil is off to a strong start in the 2025–2026 maize season, with 40% of the first crop planted by late October, surpassing the five-year average. Southern states such as Parana, Rio Grande do Sul, and Santa Catarina are nearly finished planting, supported by favorable soil moisture and solar conditions. Despite early pest pressure and temperature swings, overall crop health remains promising. Mato Grosso set a new record for its second maize crop at over 53 million tons, though next season's output is projected to dip by about 4%. Rising domestic demand from ethanol and livestock sectors is forecast to lift internal consumption to 18.57 million tons, tightening available supply as state exports and stocks decline.
- In the United States, the maize harvest lags behind prior years, with only 29% completed by early October. Yield variability due to disease and weather stress has lowered national forecasts to 180–181 bushels per acre. Nonetheless, strong ethanol production and active exports are helping sustain demand amid logistical challenges and global competition.
- Ukraine’s maize exports have dropped sharply, cutting its EU market share in half. The European Union is also seeing lower production, especially in France, due to adverse weather, shifting regional trade flows. Meanwhile, Russia has ramped up maize exports, becoming China’s top supplier and displacing Brazil.
- China's domestic maize production remains solid with modest growth, reducing its reliance on imports and reshaping global trade patterns. Argentina expects record-breaking yields, thanks to increased planting and a shift away from soybeans driven by favorable maize pricing. South Africa is also forecasting a substantial production boost due to improved weather and planting conditions.
