Western Hemisphere

Post forecasts production for marketing year (MY) 2024/25 at 0.89 million 480-lb bales, a similar level as in MY 2023/24. The planting area is expected to decrease due to farmers switching to more profitable crops, drought conditions, and limited access to water from dams.

In 2024, Brazil surpassed the United States in cotton production and exports for the first time on record. Brazil's MY2024/25 planted area is also estimated to reach a new record. Favorable prices compared to corn as well as lower production costs have boosted cotton's profitability, making it the preferred choice for second crop planting.

In marketing year (MY) 2024/25, due to favorable climatic conditions, avocado production is expected to total 200,000 metric tons (MT), representing a 33.3 percent increase from MY 2023/24. The area planted will total 33,010 hectares, reflecting a one percent growth from MY 2023/24.

Private exporters reported sales of 454,090 MT of corn for delivery to Mexico - 364,792 MT is for delivery during MY 2024/2025 and 89,298 MT is for delivery during MY 2025/2026.

Private exporters reported the following sales activities for MY 2024/2025: 30,000 MT of soybean oil for delivery to India, 261,264 MT of soybeans for delivery to Mexico, 135,000 MT of soybean cake and meal for delivery to the Philippines.

Private exporters reported the following sales activity for MY 2024/2025: 401,357 MT of corn for delivery to Mexico and 290,820 MT of corn received in the reporting period for delivery to unknown destinations.