The demand for maize will also remain strong next season, while the supply has decreased considerably due to difficult weather conditions this season. This is shown by new figures from the French national federation for the production of maize and sorghum. According to the organization, this situation could cause tensions in the coming marketing season.
The maize area increased considerably across the European Union last season (+16%), but due to the difficult weather conditions, the federation expects that the maize harvest will small going to unpack. This was also recently included in the European Commission's MARS report. According to the French federation, it could have negative consequences for the coming marketing season. After all, the demand for corn remains strong.
Lower harvests, demand remains strong
Due to last summer's drought and heat waves, corn production in France, Europe's largest corn producer, is expected to fall below 90% of previously set targets this season. However, the area has increased to 80.000 hectares. Lower production is also expected in the rest of Europe: in Hungary the maize harvest is around 90% to 95% of target and in Romania only 75% to 80% is expected.
These smaller harvests also affect corn supplies. This season, demand for the product was high, causing stocks to shrink sharply. The hope was that the increase in the area (16%) could fill the resulting shortages, but due to a lower yield this does not seem to be the case. The French federation also expects strong demand for next season. In view of less supply, this could result in a higher quotation, although the maize quotation on the Matif is now also significantly higher than last year and above the 5-year average.