EC and USDA forecast for maize in Bosnia and Herzegovina diverges by 17%
Published 2024년 5월 15일
Tridge summary
The USDA and EC have released their initial forecasts for the 2024 agricultural season, with the USDA predicting a decrease in wheat production compared to 2023, estimating a harvest of 6.35Mt. The EC, on the other hand, expects a slightly higher production of 6Mt. The estimates for barley are similar, with the USDA projecting 750Kt and the EC 772Kt.
However, there is a significant disagreement between the two organizations regarding corn production, with the EC expecting a harvest of 3.5Mt, which is 1.3Mt more than in 2023, while the USDA anticipates a harvest of 2.9Mt, which is 17% less than the EC estimate but 0.6Mt more than the 2023 harvest.
Both the USDA and the EC agree that rapeseed production is expected to increase, with the USDA predicting a production of 265Kmt, a increase of 30Kmt compared to 2023, and the EC expecting a production of 2.65Mt. Sunflower production is also expected to increase, with the USDA predicting a production of over 2 Mt compared to 1.63 Mt a year ago. However, these estimates are subject to change depending on the weather conditions.
However, there is a significant disagreement between the two organizations regarding corn production, with the EC expecting a harvest of 3.5Mt, which is 1.3Mt more than in 2023, while the USDA anticipates a harvest of 2.9Mt, which is 17% less than the EC estimate but 0.6Mt more than the 2023 harvest.
Both the USDA and the EC agree that rapeseed production is expected to increase, with the USDA predicting a production of 265Kmt, a increase of 30Kmt compared to 2023, and the EC expecting a production of 2.65Mt. Sunflower production is also expected to increase, with the USDA predicting a production of over 2 Mt compared to 1.63 Mt a year ago. However, these estimates are subject to change depending on the weather conditions.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
In their first forecast for the 2024 season, the USDA sees a significant drop in wheat production compared to the previous one. They estimate the harvest at 6.35Mt (6.7Mt - 2023), and their estimate is higher than that of the EC in the amount of 6Mt (6.5Mt - 2023). For barley, their estimates are similar - the USDA sees 750Kt, the same as a year ago, while the EC expects 772Kt or 50Kt more than 2023. However, in the case of corn, they have a significant divergence. EC experts are more optimistic about the potential this season and estimate the harvest at 3.5Mt, 1.3Mt more than in 2023. USDA analysts, however, expect just 2.9Mt of corn this year, which is 17% less than the EC estimate, but 0.6Mt more than the 2023 harvest of 2.3Mt, according to the USDA. Regarding rapeseed and sunflower, analysts from both "teams" agree and expect ...
Source: Agroportal
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