World: hEDGEpoint Global Markets sees tight corn scenario due to crashes in US, Ukraine and potential losses in Argentina

Published 2023년 2월 10일

Tridge summary

The "Perspectives 2023 - Agricultural and Energy Commodities" report by hEDGEpoint Global Markets forecasts significant challenges in the global corn market due to reduced production in Ukraine, poor harvests in the EU, and decreased US production. The report highlights the impact of the conflict in Ukraine on maize harvest, the severe weather conditions in the EU leading to low domestic supply and increased imports, and weather-related challenges in US corn production. The report also notes that China is prioritizing imports from Brazil as it faces issues with its main suppliers. The situation is expected to keep corn prices high throughout 2023.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The faltering production in Ukraine, the failed harvest in the European Union (EU) and the drop in US production are the three main factors that will impact the dynamics of the corn market this year. The finding is in the new report “Perspectives 2023 - Agricultural and Energy Commodities” launched today by hEDGEpoint Global Markets. In Ukraine, the 22/23 harvest started with good prospects. A lower production due to the war was already expected – but the favorable climate until September fueled the expectation that the impact of the conflict would be less intense. “However, unusually wet October and November prevented farmers from getting into the fields in time and delayed the harvest of all summer crops, including corn. Additional constraints imposed by the conflict, such as insufficient labor, high fuel costs, transportation problems, access to storage sites, further delayed the maize harvest. As a result, Ukraine probably had a reduction of 1.5M ha (-27%) and 15.1M ton (-36%) ...

Source: NoticiasAgricolas