Extreme Weather Cuts US Harvests as China Boosts Soybean Purchases
Updated
Updated · Bloomberg · Aug 21
Extreme Weather Cuts US Harvests as China Boosts Soybean Purchases
3 articles · Updated · Bloomberg · Aug 21
Summary
Heavy rains, flooding and heat waves are shrinking US grain and soybean yields, lifting crop prices as farmers face a smaller harvest than last year’s bumper output.
Indiana and Ohio have been hit by recent flooding that could kill soy plants if fields do not dry quickly, while Illinois has endured a record tornado season alongside broader storm damage.
Hot temperatures have added to the pressure by limiting grain yields, worsening losses that were already expected before the latest weather shocks.
China is increasing soybean purchases at the same time to meet a commitment struck by the two countries’ leaders, adding demand as US supplies tighten.