Analyst estimates derecho-related corn loss at 200-400 million bushels
Wednesday’s corn production estimate of 15-point-three billion bushels from USDA did not take into account the extensive damage caused by this week’s derecho windstorm in the Midwest.
Market analyst Arlan Suderman with StoneX is estimating the loss at 200 to 400 million bushels.
“I estimate that the damaging winds probably were felt over about six-and-a-half million acres of corn,” Suderman says. “And then you’ve got everything from total loss, where it just totally snapped off, to a bushel or two loss because of some stalk damage. You’re going to have everything in between.”
Suderman says his estimate also factors in the benefit of the rain that fell in some of the very dry areas of Iowa.
“There were some really dry areas that got some good rains during the grain fill. That will help,” he says.
Iowa and Illinois appear to be the states most affected, although the high winds were also recorded in parts of Wisconsin, Indiana, Michigan and Ohio.
Suderman made those comments Wednesday afternoon during a StoneX webinar.