French Corn Crop Hit by 15-Year Low in Yield Forecasts

The French corn crop has been severely damaged by hot and dry summer weather, leading to a significant decline in yield forecasts. According to FranceAgriMer's crop rating reports, only 28% of the French corn crop was rated 'good to excellent' as of August 24. This marks a sharp drop from both the previous week and the same period last year, reaching a 15-year low.

The damage caused by the prolonged heatwave has resulted in substantial downward revisions in yield forecasts. France is a key corn producer within the EU, making this contraction in supply particularly impactful on global markets. The related futures contracts are trending upward as expectations of reduced output drive prices higher.