Global: Contrasting crop fortunes continue

Published May 23, 2023

Tridge summary

European crop reports show good conditions in most areas, with the exception of Spain, Portugal, and North Africa. The EU Commission expects low yields in these countries, leading to high import needs for the 2023/24 season. The EU's MARS bulletin has increased yield forecasts for soft wheat, winter barley, and rapeseed, while reducing yield forecasts for maize and sunflowers. In the US, winter wheat crops are stabilizing, and maize and soyabean planting are going well. Despite these reports, the market remains bearish, and significant crop issues are needed to shift this trend.

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

Original content

Newly released crop reports show continuing good crop conditions in much of Europe. But this contrasts with poor prospects in Spain, Portugal, and parts of North Africa. Crop fortunes also continue to contrast within the US. Harvest is underway or imminent in Spain, Portugal, Algeria, Morocco, and Tunisia. We’ll soon have full confirmation of the yields, but expectations are low (EU Commission) and will mean high import needs in the 2023/24 season. Yet, there is still good crop potential in most other areas of Europe, including the main exporting countries. High rainfall in big swathes of Europe slowed spring planting but means good moisture for growing crops. Meanwhile, good soil moisture has offset below normal rainfall in the Baltic countries. The EU Commission’s MARS bulletin increased yield forecasts for soft wheat, winter barley and rapeseed. The forecasts were above average in April and now are further above. Maize and sunflower yield forecasts were reduced, partly due to ...

Source: Ahdb