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Drought in Mexico could impact US corn exports
USDA Outlook Board chairman Mark Jekanowski says the current drought in Mexico could impact Friday’s world supply and demand numbers for corn.
“They have been suffering from drought for some time. They are one of our biggest export markets for corn, so the size of their corn crop has pretty big implications for our own export prospects.”
US Ag Secretary Sonny Perdue is currently leading a trade mission to Mexico to explore new opportunities with US agriculture’s largest bilateral trading partner and second-largest export market.
USDA’s updated forecasts for crop production and yields as well as outlooks for supply, use, projected stocks and prices for new crops will be out at Noon EST/11 CST Friday.
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