Sharp rise in prices in a context of water deficit in Europe

After a rather mild winter, European crops are starting spring in relatively good conditions, but the persistence of dry weather in southwestern Europe is worrying. Winter crops in the south of the Iberian Peninsula are already impacted by drought, according to the latest EU crop observation bulletin. In the south of France and north-west Italy, where the crop stage is not yet advanced, the effects of the drought are not yet being felt, or very little. But rain is expected there to avoid a drop in yield potential, as well as in Slovenia, Croatia, Hungary, Romania and south-west Ukraine. Stable Wheat Yield Estimate At this stage, the European Commission is posting a yield estimate for soft wheat in the EU at 60.2 q/ha for the 2022 harvest, stable compared to last year (60.4 q/ha) and up by 3% compared to the five-year average (58.4 q/ha). The yield of winter barley is estimated at 58.3 q/ha, down 4% compared to 2021 (60.8 q/ha) and up 1.5% compared to the five-year average (57 .5 ...