Strategie Grains raises EU wheat crop forecast again

Strategie Grains lifted its forecast for the European Union’s main wheat crop for the third month in a row as Spain and southeast Europe remain on course for a bumper harvest, while rain has brought relief to parched parts of northern Europe. In monthly cereal forecasts, the consultancy projected EU soft wheat production at 130.7 million metric tons, up from 129.8 million expected in May and now 15.5% above last year’s rain-hit harvest. Like other forecasters, Strategie Grains has pointed to ample rain in southern Europe during spring that has boosted crop development, even as a swathe of northern Europe including parts of France and Germany experienced very low precipitation. “Once again, we increase already very good soft wheat and barley harvest estimates in Spain, Romania and Bulgaria,” the consultancy said in a summary of its report. “Soft wheat production is expected to reach all-time highs in Spain and Romania (provided that conditions for harvesting remain good).” Rainfall ...