Corn main export markets are facing various weather challenges, which could in turn result in changes in cargo demands. In its latest weekly report, shipbroker Intermodal said that “due to the adverse weather outlooks expected in August, there has been a 1% decrease in the projected U.S. corn production for the 2023/24 season, bringing the estimated total to 367 million tons. The weather forecasts indicate that the U.S. Corn and Soybean belts will continue to experience hot and dry conditions, particularly raising concerns for the northernmost corn and soybean regions where crop development is still in progress.
