Adverse Weather Overseas Boosts US Corn Exports

United States (US) corn exports are currently near their highest levels ever, and US Department of Agriculture (USDA) analysts forecast that exports will continue to rise due to decreased production in drought-stricken Argentina and Brazil. Japan and Mexico grabbed a majority of the weekly volume at 545,618 tonnes and 385,394 tonnes, respectively. However, cold, wet weather in the Midwestern US is threatening the corn crop there. Adverse conditions are already pushing planting back a few weeks. Farmers who plant their corn late run the risk of delaying the critical pollination period into the hottest part of the summer. This would result in lower yields, further stressing global supplies. As global corn markets adapt to changing conditions, Gro Intelligence subscribers can access and analyze relevant data to stay a step ahead.