Brazil’s expansion in corn production during the past decade has made the country a more important competitor in global corn markets, increasing competitive pressure for U.S. producers. Although the United States remains the world’s largest corn producer by a wide margin, Brazil has become a more prominent competitor mainly due to the growth of second-crop corn planted after soybeans. This production system enables Brazilian farmers to spread fixed costs across two crops in the same year, resulting in a cost structure that differs from that of U.S. corn farms. Using standardized economic data from the agribenchmark network, this article compares corn production costs and returns in the United States and Brazil from 2020 to 2024. The analysis examines key differences in cost structures and profitability, providing insight into the factors affecting corn competitiveness in both countries.