This week’s chart shows the corn supply and demand situation in Brazil. It confirms Brazil’s production has grown rapidly over the last 10 years, from 40 million metric tons (1.6 billion bushels) to 70 million tons (2.8 billion bushels). Domestic feed use has climbed steadily from 30 million tons (1.2 billion bushels) to 47 million tons (1.9 billion bushels) in the past decade as Brazil expanded its animal feeding industries (especially pork and poultry). Brazil’s corn exports have grown as well from 5.8 million tons (228 million bushels) to 19 million tons (748 million bushels).

U.S. Grains Council Manager of Global Trade Kevin Roepke reported that last quarter Brazil exported more corn than did the United States. In August 2012, the U.S. exported roughly 2.3 million tons (91 million bushels) of corn, according to USDA’s weekly export sales report, compared to last year’s August exports of 4.1 million tons (161 million bushels). For the same time period, Brazil exported approximately 2.7 million tons (106 million bushels), including more than 100,000 tons (3.9 million bushels) exporter to the United States.

Brazil’s top three corn export destinations include Iran, Egypt and South Korea.