Tridge summary
Refinitiv Commodities Research has revised down the forecast for soft wheat production in the EU countries for the 2023/24 marketing year due to unfavorable weather conditions. They now predict a production of 127.7 million tons, a decrease of 0.3 million tons from the previous forecast. The heat waves in Italy and the Iberian Peninsula, as well as excess rainfall in northern and eastern Europe, have negatively impacted crop conditions and grain quality.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Due to unfavorable weather conditions, Refinitiv Commodities Research analysts reduced the forecast for soft wheat production in the EU countries in 2023/24 MY by 0.3 million tons to the previously announced figure - to 127.7 million tons (125.7 million tons were harvested the previous season) , and durum wheat – up to 7.5 (-0.1; 7.1) million tons. As noted, heat waves negatively affecting crop conditions have recently been observed in Italy and the Iberian Peninsula, while excess rainfall in northern and eastern Europe has led to a halt in harvesting and is likely to negatively affect grain quality. In addition, due to suboptimal conditions, experts also lowered the forecast for European corn production in 2023/24 MY - by 1.1 million tons compared to ...
Source: Zol
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