With increased corn production and improved shipping logistics, Brazil is threatening to dethrone the United States as the world’s leading corn exporter. 

Aided by a new supply agreement with China, Brazil is forecast to surpass U.S. exports for just the second time ever during the current marketing year. The U.S. Department of Agriculture (USDA) projects Brazil’s corn exports at 55 million metric tons for the 2022-23 marketing year, while the U.S. is forecast to ship 41.3 million metric tons. 

The gap is expected to narrow next year, with U.S. corn exports rising to 53.34 million metric tons while Brazil’s exports hold steady at 55 million metric tons. 

Brazil has exported more corn...