European Commission has lowered the harvest forecasts for major crops in the EU but quotes have hardly reacted to this

In the October report, the European Commission experts significantly lowered their forecasts for harvests and stocks of all major crops in the EU in MY 2024/25, but prices did not react and continued to fall. Production forecasts were lowered compared to previous estimates: At the same time, the forecast of durum wheat production was left at 7.2 million tons, imports – at 3 million tons, and the stocks estimate was increased by 0.5 to 1.3 million tons. Quotations for wheat and corn on the stock exchange in Paris after strong growth in September fell in October: During this time, ...