Global: The cereal harvest would decline in the EU for the third consecutive year

Wheat

Bulgaria

Ukraine

Published Mar 26, 2024

Tridge summary

The International Grains Council forecasts a record global cereal harvest for the 2024/25 marketing year, with an expected increase of 1.2% in total wheat and coarse grains production, reaching 2.332 million tonnes. Wheat production is set to rise by 1.2% to 798.8 million tons, despite a 1.9% decrease in the EU due to humid conditions and a significant 15% drop in Ukraine because of drought and reduced planting. Conversely, the US, Canada, and Argentina are anticipated to have larger wheat harvests. Additionally, a record corn harvest is projected globally, with notable increases in Brazil and the EU, but decreases in the US and Ukraine.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The IGC expects a record global cereal harvest for the 2024/25 marketing year. The IGC puts the relevant volume of wheat and coarse grains at a total of 2.332 million tonnes according to initial forecasts, 1.2% more than the amount estimated or partially forecast for 2023/24. Of these, 798.8 million tons are expected to be wheat, which would correspond to an increase of 1.2% compared to the previous year. Looking ahead to the EU, the Grains Council expects the next wheat harvest to fall by 1.9% to 130.5 million tonnes compared to 2023. It would be the third consecutive fall. The reason is the restriction of cultivation due to humid conditions that also affects Germany and France. In addition, the continuous rains in recent weeks have made the distribution of fertilizers difficult. In some parts of Bulgaria, Romania and Italy, however, it was too hot. In Russia, however, the earnings outlook remains favorable. However, due to relatively low wheat prices, Russia's wheat area is ...

Source: Agromeat