Countries across the world feeling the heat as balance sheet could see negative effects
A global meteorologist says record heat and drought in parts of the world are putting pressure on ag production and prices.
Matt Makens says producers in areas of the European Union and South America are being hit the hardest. “The balance sheet as I look at it is kind of negative. A lot of red, just because the drought is focusing heavily on ag areas – heavy crop production and animal production.
He tells Brownfield record drought has appeared near the Mediterranean Sea in Spain, France, Italy and parts of Germany. “Similar to the U.S., we’re worried about stalk water for protein production, but we’re also worried about the precipitation, the soil moisture for crops. We’re adding on to that by seeing salinity levels rapidly rise in other cases, too.”
Makens says persistent dryness in Brazil and Argentina has affected three out of the last four crop cycles. “We have not seen that pattern change there and it’s not likely to change much to begin their next growing season.”
He says weather has been positive for growers in Asia and Australia.