France cuts expected corn crop to 50% to dry/hot season.
French farmers are estimated to have lost HALF the corn crop this year due to excessive heat — output is expected to fall to fall to less than 7 million tons, which would be the smallest harvest since 1976.
This drives more demand to the US harvest (which is why the diesel situation in the US is critical — full report here)
"Relentless heat and drought could halve this year's French maize harvest and reduce European Union production to its smallest in decades."
Germany’s grain maize crop has also suffered, with farm cooperatives association DRV on Thursday forecasting a 14% year-on-year drop.
(reuters)
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