Global Maize Market Summary

• In the United States, maize producers continue to face high production costs despite a strong harvest of 406.27 million tons. Significantly higher prices for seeds and crop protection inputs, compared with Brazil, are reducing the competitiveness of US maize exports. While export volumes remain strong at 79.88 million tons, concerns over future tariffs and regulatory scrutiny could place additional pressure on export performance.
• Brazil's maize market is experiencing a sharp slowdown in exports, with July shipments falling dramatically from the previous year. Tight domestic supplies, a lower stocks-to-use ratio, and rising demand from the country's E30 ethanol program are limiting export availability. Storage congestion following the soybean harvest and delays in the safrinha harvest are also contributing to export volatility.
• France is facing its weakest maize production in 26 years after severe heat waves reduced crop conditions and lowered production forecasts to 9.5 million tons. The resulting supply shortfall is increasing the European Union's dependence on maize imports to meet domestic demand and stabilize regional markets.
• In Argentina, harvest progress remains slightly behind schedule, affecting export timing. Producers are also holding maize as a hedge against currency volatility, limiting the volume available for immediate export.
• The Philippines is expected to record a 2 percent decline in maize production for the 2026 to 2027 season due to reduced planting area and higher input costs. Continued strength in feed demand is increasing the country's reliance on imports to offset lower domestic production.
• Ukraine continues to face weak market conditions as lower demand, declining spot prices, and intense competition from wheat and barley weigh on the sector. Large old crop inventories, combined with weaker import demand from Turkey and the European Union and ongoing logistical constraints at Black Sea ports, are creating additional challenges for exports and market recovery.