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Grain prices are being grilled: heatwave in US and Europe

In Europe, the condition of the French corn crop has deteriorated sharply for the second week in a row. This is shown by data from the agricultural agency FranceAgriMer. Apparently, the hot and dry weather is taking its toll on the European Union’s second largest grain maize producer.

Around 68% of France’s grain corn crop was still in good or excellent condition in the week ended July 25, compared with 75% in the previous week and 83% in the week ended July 11 and 84% in the week ended July 4. July, reports FranceAgriMer. Last year at the same time the rating was 90%.

Harvest prospects have also recently deteriorated in other important European production countries. In addition to Italy and Spain, Romania and Germany and possibly Poland are also affected.

Therefore, the European Commission revised the European corn harvest down significantly to 65.8 million tons now, compared to 71.7 million tons in June and 72.7 million tons last year.

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