USDA – Grain: World Markets and Trade, May 2025

The main theme of the report is global grain markets and trade.

Key findings include a forecasted increase in global corn production, primarily due to a record harvest in the United States, as well as moderately larger crops in Argentina, Brazil, and Ukraine. Trade is expected to rise as demand in Mexico and the European Union remains high. Corn consumption is forecasted to be higher for both feed and food, seed, and industrial uses. The wheat outlook suggests record production and consumption, increased trade, and rising ending stocks. Production will increase due to larger crops in the European Union and India, offsetting declines in Kazakhstan, Australia, Pakistan, and the United States. Record rice production is forecasted with increased crops in Bangladesh, India, and Pakistan. Global consumption is expected to grow, mainly driven by India, Thailand, and the Philippines. Global rice trade will increase slightly, with India remaining the largest exporter.