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European Commission has sharply lowered its forecast for the EU soft wheat harvest this season

Wheat
Published Jul 3, 2022

Tridge summary

The European Commission has sharply lowered its forecast for the European Union's soft wheat harvest in the 2022-2023 agricultural season, which began on July 1, although it maintained its assessment of the outlook for exports from the community at a record level, Reuters reported. EC experts are now expecting a harvest of 125 million tons of soft wheat - 5.4 million tons more than the forecast made just a month ago.

Original content

The reasons are the hot and dry weather in the main producing countries, with France, Poland, Romania and Spain being the most affected. From the shocking forecast for Vice Prime Minister Vasilev's grain to the hub in Varna - through a crooked macaron However, the estimate for soft wheat exports from the EU during the season was left unchanged at the level of 38 million tons. If it is achieved, it will set a record and significantly exceed last season's result of around 30 million tons. The reason for the export optimism is expected strong demand for the community-produced grain, as Russia's attack on Ukraine blocks grain exports from Ukrainian Black Sea ports. However, the downgrade of the soft wheat crop forecast also led to a fall in the forecast for the season's ending stocks by 4 million tonnes to 13.2 million tonnes. The EC has also lowered its estimates for the harvests of other cereals in the EU, again in the downward direction. In the case of barley, the correction is ...
Source: Sinor
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