Corn field

drought in the USA worsens the prospects for corn yields

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.

As a result, USDA experts have cut US corn forecasts three times since May, expecting a yield of 171,9 bushels in October, down from May's forecast of 177 bushels. Therefore, the country's corn production forecast is 13,85 billion bushels (364,11 million tons), down 4% (61 million bushels) from the May forecast and could be the lowest in the last 3 seasons.

Analysts have lowered their forecast for final 2022/23 US corn stocks by 16% since May.

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