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Favorable weather conditions improve the prospects for corn production in the USA


Analysts at Refinitiv Commodities Research have raised the forecast for the country's grain production in 2023/24 by 1 million tonnes year-on-year to 382 million tonnes, to be harvested from 37 million hectares.

This number is also significantly higher than the result of the previous season, than in the USA with 32,1 million hectares 348,8 million tons Corn were harvested.

Warm and dry weather conditions are expected to continue throughout the country's corn belt in June, while some growing areas will require more moisture due to the current rainfall deficit.

However, heavy rainfall is forecast in the eastern parts of the US Corn Belt over the next few days, which could have a positive impact on crop development.

May 92% of the planned areas in the USA with Corn sown, which is higher than the average for the last 5 years (84%) according to USDA monitoring. 69% of the plants were in good and excellent condition (a year earlier it was 73%).

Source: APKinform (Ukraine)

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