For more than 50 years, U.S. farmers were dominant in the international corn market, far and away shipping more corn than anyone else to help feed the world’s stockpiles and manufacture food.
A Bloomberg article says that’s no longer the case.
In the agricultural year that ended on August 31st, the U.S. gave up that top spot in corn exporting to Brazil, and it might not be coming back in the near future.
In the 2023 harvest year, Brazil will dominate the world’s global corn exports at 32%, well ahead of the 23% of corn shipped by the U.S. into the export market.
America has only dropped out of the top spot once, doing so in 2013 because of a severe drought.
Losing the lead in corn exports may unfortunately be familiar to U.S. producers, who lost the top spot in soybean and wheat exports during the last ten years.