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Global Food Supply Crises May Worsen Due to Poor US Harvest

U.S. agriculture has been facing a poor harvest this year, aggravating the global food supply crisis, industry executives have said.
The supply of food worldwide has been tight, since Russia’s war in Ukraine cut off vital shipments of resources needed to make fertilizer and grain products from the region.
Several high-level executives from big agricultural firms such as Bayer, Corteva, Archer Daniels Midland, and Bunge, told The Wall Street Journal that it will take at least two more years of good harvests in North and South America to ease the supply pressures.
“The current market expectation is that global grain and oilseeds markets need two consecutive normal crop years to stabilize global supplies,” said Chuck Magro, chief executive of Corteva, at an investor presentation this week….



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