TIGHT SUPPLY, STICKY DEMAND


The outlook for US corn through 2027


Following record US corn demand in the 2025/26 marketing year, demand in 2026/27 looks to be very promising as well. Whether we are able to reach record levels from the 2025 harvest will largely hinge on US production in 2026, which at this point appears to be well below last record crop at just over 17 bil. bu. Before I cover US production prospects I want to explore some of the dynamics shaping the global corn market that I feel will continue to bode well for US demand well into 2027.


Four Forces Supporting US Corn Prices Into 2027


Europe


Production Down -11.6%


Imports to Reach 25 MMT


Brazil


Corn for Ethanol 23 MMT


20 New Plants Under Construction


El Niño 90% Chance Super El Niño


Brazil Crop Risk Heat & Drought


4 | ADMISI - The Ghost In The Machine | Q3 Edition 2026


US Outlook Production Estimate 15.3 BN BU


Corn Above $6?


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