7Aug
Drought seen slashing U.S. corn crop to 5-year low
The worst drought in more than half a century has analysts expecting the smallest U.S. corn crop in five years, which will translate to smallest ending stocks next summer in 17 years, a Reuters poll of 21 analysts showed on Monday.
If accurate that supply forecast would result in the third year in a row of razor thin corn stocks. That would keep prices near record highs and ration demand for the world’s most popular livestock feed grain, analysts said.
— CMEGroup
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