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.
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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 planting delays from cold / wet weather. But these forecasts remain above their respective five-year averages. The spring barley yield is down 0.14t/ha to 3.90t/ha, moving further below the 5-year average of 4.19t/ha. In the ...
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