Extreme Weather Could Push Corn Harvest to Worst Slump in Decades [Yahoo! Finance Canada]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
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Source: Yahoo! Finance Canada
(Bloomberg) -- China's corn harvest could be about to record its worst slump since the turn of the century, although that still might not be enough to lift prices in such a moribund market. Most Read from Bloomberg Extreme weather, from heat waves to floods, has ravaged production this year in the world's largest consumer of the grain. But stockpiles are plentiful, and demand is so sluggish that traders are shrugging off the immediate impact. Still, it means the country could be vulnerable to rising import needs if the government's efforts to kickstart the economy prove successful. Last year's harvest came in at a record 289 million tons, government data show. Output in 2024 may drop by between 5 million and 20 million tons, according to five traders and analysts surveyed by Bloomberg. In the worst case, that means production would fall by about 7%, which would be the biggest drop since 2000, when output plunged 17%. China's harvest won't wrap up until next month, so the fina
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