South American corn production forecasts were adjusted lower in the February USDA WASDE report. World Agricultural Outlook Board Chair Mark Jekanowski says the weather is to blame in Argentina.
Brazil’s corn production forecast was also reduced by 1 million tons says Jekanowski.
There were no changes to the U.S. corn production estimate other than a 10 cent increase in the season ending average price. That price is now $4.35 cents per bushel according to Jekanowski.
World Agricultural Outlook Board Chair Mark Jekanowski expands on lower USDA corn production forecasts this month for both Argentina and Brazil.
