Global Maize Market Summary

• Thailand is operating with a structural supply deficit, with domestic production of approximately 5,000,000 tons meeting only around half of the 9,000,000 tons required annually for feed. A 1,000,000-ton import authorization from the United States addresses roughly 25% of the gap and about 11% of total demand, functioning as a source-substitution measure rather than a response to new demand. The persistent shortfall is compressing margins in the poultry and livestock sectors and heightening vulnerability to any disruption in import availability or domestic policy.
• Ukraine's maize exports for the 2025/26 marketing year have reached 19,500,000 tons as of June 2026, a 6% decline from the prior season, with port congestion and ongoing security constraints continuing to limit shipping throughput. Regions with high dependency on Ukrainian origin material remain exposed to further supply-side disruption if logistical conditions do not improve.
• Brazil is on course for one of its largest maize harvests on record, with the safrinha second crop contributing substantially to both domestic supply and export availability. However, mandatory E30 ethanol blend requirements are diverting a significant share of production away from export channels. The peak export window from August to November will be the key period to watch for Brazil's net contribution to global supply and its influence on international pricing.
• Zambia is approaching 5,000,000 tons of production for 2026, supported by favorable seasonal conditions and government farm support programs. While meaningful for Southern African regional food security, the volume represents a small share of global output. The country has set a longer-term national target of 10,000,000 tons by 2031.
• The United States is projecting a harvest of approximately 406,000,000 tons in 2026, with export demand remaining firm. Competing claims from ethanol production under evolving biofuel policy and export commitments represent the primary tension point, with seasonal crop health and weather outcomes serving as the key variables shaping market sentiment.