In its January report, the U.S. Department of Agriculture (USDA) significantly revised upward its forecast for global corn production in the 2025/26 season, ProAgro Group reports.

The new estimate reaches a record 1,296 million tonnes, which is 13.1 million tonnes higher than the previous forecast. The largest production increases were projected for the United States, up 6.8 million tonnes to 432.3 million tonnes, and for China, up 6.2 million tonnes to 301.2 million tonnes.

Global corn consumption was also revised upward by 2.6 million tonnes, to a record 1,299.8 million tonnes. Consumption in the United States alone increased by 2.3 million tonnes. Overall, global consumption is expected to exceed the 2024/25 season level by nearly 48 million tonnes.

The USDA left its forecast for global corn exports unchanged at 205.1 million tonnes. The estimate for global imports also remained stable at 190.11 million tonnes.

The most significant revision concerned ending stocks, which were increased by 11.8 million tonnes, to 290.9 million tonnes. In particular, U.S. corn stocks are now expected to rise by 4 million tonnes, to 56.6 million tonnes, while China’s ending stocks were raised by 6.2 million tonnes, to 180.2 million tonnes.

As for Ukraine, the corn production forecast for the 2025/26 marketing year remains unchanged at 29 million tonnes. Export projections and ending stocks are also stable at 23 million tonnes and 0.9 million tonnes, respectively.

Read also: In the first half of the 2025/26 marketing year, Ukrainian grain exports developed at a restrained pace amid high global supply, logistical challenges, and increased competition.