Dry weather conditions in the US corn belt have resulted in lower crop yields in 2022/23 than previously thought, reports S&P Global Platts.
In addition, the rainfall deficit has led to a significant decrease in water levels in the main water arteries in the USA led, about the Corn is transported.
82% of the US territory has been in unusually dry weather conditions or extreme drought, according to US drought monitoring data. This is the most unusual drought since 2000, analysts say.
Therefore they have USDAExperts have cut U.S. corn forecasts three times since May, yielding a yield of 171,9 in October Scheffel expected, while 177 bushels were forecast in May. Therefore, the country's corn production forecast is 13,85 billion bushels (364,11 million Tonnen), which is 4% (61 million bushels) below the May forecast and could be the lowest value in the last 3 seasons.
Analysts have lowered their forecast for final 2022/23 US corn stocks by 16% since May.