We are checking on two corn-producing regions across the globe. USDA World Ag Outlook Board Chairman Mark Jekanowski first tells us how things are going in the EU.
According to Jekanowski, “Very severe drought and record high temperatures really stressing corn given the weather conditions we’ve seen and looking at the satellite data suggests the corn crop is struggling. So, we reduced our production estimate by 8 million tons, down to the current forecast of 60 million metric tons and that would be down about 11 million metric tons year over year.”
When it comes to Ukraine: “The satellite imagery suggests corn crop is coming along quite nicely. They’ve had favorable weather conditions, plenty of rain, relatively cool temperatures; so, we raised our production forecast for Ukraine by 5 million metric tons.”
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