France: FranceAgriMer lowers corn ratings again

The condition of the corn stocks in France has deteriorated further in the past week, shows the weekly report of the French agricultural consultancy FranceAgriMer. According to this, 62% of the maize crops received the top rating “good to excellent” in the week up to August 17th. This is a decrease of 3 percentage points compared to the previous week and at the level of the stocks that were examined a year ago. However, the decline in ratings was less dramatic than in the previous week, when ratings in many regions fell by 9 percentage points due to the high temperatures of up to 40 degrees Celsius and the drought.
However, the latest rating suggests that the French harvest is still suffering from the effects of the second-warmest first half of August and the driest July for at least 60 years.
Storms that ended the heat wave last week brought showers, but some areas missed significant rainfall.
Non-irrigated corn is hardest hit by the parched conditions. However, widespread water restrictions due to drought could also damage crops in irrigated regions.
After traders and analysts had previously forecast a large corn harvest for this fall and increased planting after favorable spring conditions, they have now reduced production estimates again.
The summer wheat harvest ended last week. The winter wheat and winter barley harvests have long been completed.

Hansa Terminhandel GmbH
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