Mixed prospects for EU crop yields, LATAM soybean meal price surge, and strong demand for feed wheat

We track analysts’ take on global oilseed and grain market developments this week. The EU JRC Mars bulletin indicated reduced yield forecasts for summer crops. Although, all summer crop yield estimates remain above the five-year average, spring barley, grain maize, sunflower, and soybean yields were all trimmed from the August estimate, reported CRM Agri in a briefing on the bulletin​​. “Downward revisions are mainly due to the negative impacts of continued hot and dry conditions in southern Europe. The yield forecasts for summer crops in western and central Europe remain positive, even benefiting from a slight upwards revision. The outlook is particularly positive for grain maize in France, Germany and Poland. Southern, and south-eastern European regions experienced continued dry conditions, often accompanied by hot temperatures, which negatively impacted the yield potentials of summer crops. This is particularly the case in large parts of Italy, Hungary, Romania, Bulgaria and ...