The European Commission raised the forecast for the corn harvest in 2023/24 MR and lowered the import estimate

The European Commission increased the forecast of corn production in the EU in 2023/24 MR from 59.9 to 61.4 million tons compared to the estimates of the previous month, which will exceed the harvest of the previous dry season by 15.6%, but will be 10.8% inferior to the average of 5- annual indicator. At the same time, the forecast for the import of corn to the EU in 2023/24 has been reduced from 20 to 19 million tons. This is reported on the website of the Electronic Grain Exchange of Ukraine. The forecast for the production of soft wheat in the 2023/24 MR has also been increased from 125.6 to 125.7 million tons, which will practically correspond to the 125.8 million tons of the 2022/23 season. The estimate of exports of common wheat from the EU was left at the level of 31 million tons, while the forecast of final stocks of common wheat was increased from 18.3 to 18.4 million tons. The forecast for EU barley production in FY 2023/24 has been raised from 46.9 to 47.3 million ...