Experts lowered the forecast for wheat production in the EU

Published 2023년 3월 29일

Tridge summary

Analysts at Refinitiv Commodities Research have lowered their forecast for soft and durum wheat production in the EU for the 2023/24 marketing year due to a lack of precipitation in southern and southwestern Europe. The soft wheat production forecast has been reduced by 1.7 million tons to 132.2 million tons, while the durum wheat harvest forecast has been reduced by 500 thousand tons to 7.8 million tons. The potential for rapeseed production in the EU has also been reduced, leading to a reduction in the oilseed production forecast by 200 thousand tons to 20.4 million tons. Preliminary weather forecasts for April indicate a possible excess of rainfall across Europe.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Analysts at Refinitiv Commodities Research have lowered the forecast for soft wheat production in the EU countries in 2023/24 MY by 1.7 million tons compared to the previously announced figure - to 132.2 million tons, which, however, still exceeds the result of the previous season (126. 7 million tons). Also, the forecast for durum wheat harvest was reduced by 500 thousand tons - to 7.8 million tons (7.3 million tons a season earlier). As explained, the decrease in estimates is due to the lack of precipitation, which is observed in the southern and southwestern regions of Europe and worsens the conditions for the development of winter wheat crops. In addition, due to the lack of precipitation in southwestern Europe, in particular in Greece, Bulgaria and Spain, the potential for rapeseed production in the EU is reduced. In this regard, the forecast for ...

Source: Zol