sank the most since 2008
How much they can provide is in question. Major producers like the US, Brazil and Argentina have been facing yield issues over the last few years thanks to scorching heat, supporting prices at higher levels. Global production of maize and soybeans in 2021-2022 fell short of initial forecasts by 45 million tons.
The situation is already critical, said Vincent Braak, a crop analyst at Strategie Grains. “Even if rains come back, for maize production, it is far too late for good yields now because pollination is done almost everywhere. We are worried for all the summer crops. Even with irrigation, this temperature is totally crazy.”
This year’s French maize harvest is estimated at 12.66 million tons, down 19% year-over-year, the country’s agriculture ministry said in a. If confirmed, it will be the lowest since 2016, according to USDA data. In India, temperatures soared in March to the highest ever for the month on record going back to 1901, shrivelling the country’s biggest winter-sown crop during a crucial growth period.
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