Bad weather leads NZ's Fonterra to cut 2020 milk collection forecast

(Reuters) - The world's largest dairy exporter Fonterra on Thursday cut its milk collection forecast for fiscal 2020, citing adverse weather conditions in several parts of New Zealand.The company lowered its expectation to 1,515 million kilograms of milk solids (kgMS) from the prior forecast of 1,530 million kgMS.While it maintained its full-year adjusted earnings guidance and farmgate milk price range, the company flagged "significant risks" in the second half from the coronavirus outbreak."We..