Brazil became the world’s top corn exporter overtaking the U.S. in 2013 as the U.S’s supply fell because of drought. In 2014 however, the U.S. is set to make a comeback with a record corn crop and prices at $4.30 per bushel in Chicago. According to the U.S. Department of Agriculture (USDA) Brazil exported 22 million tons of corn for the 2013/14 crop year while the U.S. exported 18.58 million tons, but Brazil’s exports will likely fall off in December and January and the U.S. will reclaim its position as the world’s leading corn exporter. Brazil’s corn production has increased 60% over the past 10 years with a record 80 million tons crop in 2012/13. Analysts believe Brazil’s next corn crop will be smaller as farmers switch to soybeans and cotton. The USDA predicts a corn crop of 72 million tons from Brazil for 2013/14 with exports of 20 million tons and predicts the U.S. will export 35.6 million tons.
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