Droughts, Ukraine war push global grain stocks toward worrying decade low
Published Sep 27, 2022
Tridge summary
By the end of the 2022/23 crop year, buffer stocks of corn will be enough for just 80 days
Original content
Chicago: The world is heading toward the tightest grain inventories in years despite the resumption of exports from Ukraine, as the shipments are too few and harvests from other major crop producers are smaller than initially expected, according to grain supply and crop forecast data. Poor weather in key agricultural regions from the United States to France and China is shrinking grain harvests and cutting inventories, heightening the risk of famine in some of the world’s poorest nations. Importers, food manufacturers and livestock producers had hoped crop availability would improve after war-torn Ukraine resumed shipments from Black Sea ports this summer and US farmers planted large crops. But the United States, the world’s top corn producer, is now expected to harvest its smallest corn crop in three years. Drought also punished European harvests and is threatening South America’s upcoming planting season. By the end of the 2022/23 crop year, the world’s buffer stocks of corn ...
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