www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語Fran?ais
Home / World

Wide-reaching drought stifles US corn yield

By Joseph Boris and Yu wei in New York | China Daily | Updated: 2012-07-13 07:37

Wide-reaching drought stifles US corn yield

The United States, reeling from a harsh Midwest drought, slashed its forecast for its 2012-13 corn crop on Wednesday, saying yields will be even worse than expected a month ago.

Still, it's unclear if importers such as China will see higher crop prices and reduced supplies of corn, soybeans and other US farm products as a result.

Of countries that import US agricultural products, China buys the second-largest amount of corn, after Japan, and the largest amount of soybeans.

The US Department of Agriculture estimated that the country's farmers will harvest 12.97 billion bushels, or 329.5 million metric tons, of corn in the 2012-13 season, down 12 percent from a prediction the department made in June, when it said the harvest would be 14.79 billion bushels.

An average of analysts' estimates compiled by Bloomberg News had expected a corn yield of 13.53 billion bushels during the period.

Inventories before the harvest in late summer and fall could be down by as much as 37 percent, from what was forecast last month, or down to 1.183 billion bushels.

The drought, the worst to hit the United States since 1988, is affecting places stretching from Ohio to California. Although not as severe as the dry spell that hit the Southwest in 2011, the conditions are affecting more farmland and are undermining the hopes for a record crop that arose after the planting season this year.

In the marketing year that begins on Sept 1, China is forecast to import 5 million tons of corn from the US, which grows and exports more corn than any other country, according to the USDA. That's down 2 million tons from previous estimates.

The price of US corn futures jumped in early trading in response to Wednesday's grim news, but settled lower than on the previous day, showing that traders had already taken into account the likely effects of the drought.

The price of corn for July delivery fell by 10.25 US cents, or 1.3 percent, to nearly $7.51 a bushel on the Chicago Board of Trade. Wednesday's settlement price for December-delivery corn was $7.04 per bushel, down 13.5 US cents, or 1.9 percent.

Also on Wednesday, the USDA declared that more than 1,000 counties in 26 states, mostly in the Midwest and Southwest, were natural-disaster areas, largely because of the presence of drought and wildfires in those areas. The declaration makes farmers and ranchers in the counties eligible to receive low-interest government loans to help them through the hardships.

In Indiana, one of the disaster-area states, exports of corn and soybeans are "likely to be greatly reduced", said Chris Hurt, a professor of agricultural economics at Purdue University.

In Minnesota, which instead of suffering drought, has been benefited from ample rainfall this spring and summer, Su Ye, state agriculture department market research director, said "the supply and price of our agricultural exports to China will be stable".

China is the single biggest market for Minnesota's farm exports, she said.

Iowa, which produces large amounts of corn and soybeans and is not on the USDA disaster list, is still assessing how the conditions may affect its exports.

"It's too early to tell," said Dustin Van de Hoef, a spokesman for Iowa's Department of Agriculture and Land Stewardship.

"China is a key trading partner for Iowa farmers, and all US agriculture and farmers are committed to continue meeting the needs of our trading partners in China."

Contact the writers at yuweizhang@chinadailyusa.com and josephboris@chinadailyusa.com

(China Daily 07/13/2012 page13)

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 亚洲九九香蕉 | 欧美最新的精品videoss | 亚洲国产天堂久久九九九 | 国产一级高清 | 国产一区二区三区欧美 | 国产日本三级欧美三级妇三级四 | 韩国三级日本三级香港三级黄 | 中文一区二区在线观看 | 91免费网站在线看入口黄 | 2022国产精品网站在线播放 | 久久精品一区二区国产 | 一级特黄牲大片免费视频 | 国产成人一区二区视频在线观看 | 自拍偷拍图区 | 免费一级欧美片在线观看 | 日本免费人做人一区在线观看 | 越南高清幻女bbwxxxx | 免费国产午夜高清在线视频 | 亚洲人成片在线观看 | 在线精品欧美日韩 | 午夜啪啪福利视频 | 欧美另类videosgrstv变态 欧美另类高清xxxxx | 欧美日韩一区二区三区在线观看 | 男人v天堂 | 欧美三级黄色大片 | 久久国产精品夜色 | 欧美日韩永久久一区二区三区 | 国产成人精品精品欧美 | 欧美日韩性视频一区二区三区 | 日本免费在线 | 国产成人精品一区二区 | 伊大人香蕉久久网欧美 | 在线观看日本www | 91精品国产综合久久欧美 | 免费播放巨茎人妖不卡片 | 久久国产免费一区二区三区 | 成人免费在线播放视频 | 久草在现视频 | 中文一区在线 | 美女三级毛片 | 国产亚洲人成在线影院 |