# Brazil’s bin-busting corn crop poised to drive down prices

> Brazil is expected to export 53 million tonnes of corn in 2022-23, passing the US for the first time, and USDA forecasts Brazil's 2023-24 exports at 55 million tonnes versus 53 million for the US. Brazil's 2022-23 production was 130 million tonnes, with 2023-24 production forecast at 129 million.

- Date: 2023-05-26 · published 2023-05-26T12:00:00.000Z
- Category: trade · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/5567-brazil-s-bin-busting-corn-crop-poised-to-drive-down-prices
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

Expanding Brazilian supply and export share pressures global corn prices and US export demand, weighing on corn and related grains.

## Read by commodity

- CORN: bearish ▼
- DDGS: bearish ▼
- WHEAT: bearish ▼
- BARLEY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-01-18 | [U.S. comes closer to losing corn export crown to Brazil](https://feedsoft.ai/events/14871-u-s-comes-closer-to-losing-corn-export-crown-to-brazil.md) | -1.7% | -1.0% |
| CORN | 2020-06-26 | [China Selling Corn Stockpiles, Driving Prices Down](https://feedsoft.ai/events/52651-china-selling-corn-stockpiles-driving-prices-down.md) | +4.6% | +0.9% |
| CORN | 2023-09-29 | [U.S. corn prices slump as top buyer China turns to Brazil - Nikkei Asia](https://feedsoft.ai/events/14810-u-s-corn-prices-slump-as-top-buyer-china-turns-to-brazil-nikkei-asia.md) | +1.9% | +0.9% |
| CORN | 2023-05-19 | [Why Do Corn and Soybean Prices Continue to Plummet? - AgWeb](https://feedsoft.ai/events/7841-why-do-corn-and-soybean-prices-continue-to-plummet-agweb.md) | +6.7% | +4.4% |
| CORN | 2026-03-13 | [Grain prices surge: U.S. farmers rush to sell crops](https://feedsoft.ai/events/20190-grain-prices-surge-u-s-farmers-rush-to-sell-crops.md) | +4.1% | -0.9% |
| WHEAT | 2026-03-13 | [Grain prices surge: U.S. farmers rush to sell crops](https://feedsoft.ai/events/20190-grain-prices-surge-u-s-farmers-rush-to-sell-crops.md) | -0.2% | -2.6% |
| WHEAT | 2023-05-15 | [China May Cancel More US Corn in Shift to Cheaper Brazil Cargoes](https://feedsoft.ai/events/14844-china-may-cancel-more-us-corn-in-shift-to-cheaper-brazil-cargoes.md) | -1.6% | -7.1% |
| WHEAT | 2019-12-05 | [After a speculative jump in wheat prices continue to decline](https://feedsoft.ai/events/11056-after-a-speculative-jump-in-wheat-prices-continue-to-decline.md) | -3.9% | -1.3% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/brazils-bin-busting-corn-crop-poised-to-drive-down-prices/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.