Forecast for the volume and directions of world trade in grains and corn in 2023-2024

The forecast for global grain trade volume in the 2023-2024 season remains unchanged at about 466 million tons, which is 1.7% lower than the 2022-2023 season. The forecast for global corn trade also remains at 178 million tons. Brazil will compensate for the decrease in sales from Paraguay and the United States. It is expected that the increase in shipments from Pakistan, Myanmar, and Thailand will offset the reduction in exports from India and Vietnam.

22 January 2024

The forecast for global grain trade in the 2023-2024 season remains unchanged from last month at about 466 million tons, down 1.7 percent from the 2022-2023 season.

The forecast for global corn trade in the 2023-2024 season also remains at 178 million tons. That's because higher corn supply forecasts from Brazil, which has large supplies thanks to a record harvest, offset slight declines in sales forecasts from Paraguay and the United States.

The modest recovery in trade is expected to be driven primarily by increased shipments from Pakistan, Myanmar and Thailand, offsetting expected declines in exports, primarily from India and Vietnam.

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Forecast for the volume and directions of world trade in grains and corn in 2023-2024

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