French corn crop conditions fall to a 15-year low
Corn crop conditions in France continue to deteriorate sharply due to prolonged heat and drought. As of August 24, only 28% of the crop was rated good to excellent by FranceAgriMer, the lowest level in at least 15 years.
The share of corn rated good to excellent declined from 29% to 28% over the week. By comparison, 62% of the crop was rated good to excellent at the same time last year, more than twice the current level.
Persistently high temperatures and moisture shortages throughout the summer have been the main factors behind the deterioration. Adverse weather has caused significant crop damage and prompted substantial downward revisions to corn yield forecasts.
The situation in France is important for the broader European market, as the country is one of the EU’s key corn producers. Deteriorating crop prospects are increasing concerns about lower French corn supplies this season.
Expectations of a smaller harvest are already supporting corn prices. Spot prices are strengthening, while futures are also trending higher amid forecasts of lower production and exceptionally poor French crop conditions.
Read also
Egypt cuts wheat imports from Ukraine and Russia, increases purchases from other c...
Seaport blockade could cost Ukraine’s agricultural sector $4.6 bln in export...
Brazil increases its share of EU soybean imports to 78%, displacing other suppliers
Late winter wheat sowing in Ukraine increases risk of crop damage during winter
European wheat prices rise on weaker euro and Black Sea concerns
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon