USDA cuts EU wheat crop estimate by 4 million tons

Published Sep 14, 2024

Tridge summary

The American Department of Agriculture has revised down the wheat yield estimate by 4%, resulting in a reduction in production forecasts for several European countries, including Germany and France, as well as Spain, Poland, and the Czech Republic. China and India have seen increases in wheat production, with China becoming the world's largest producer since 2022. Despite the slight reduction in the global harvest forecast this month, record production levels are expected. However, consumption is projected to surpass 800 million tons for the first time, leading to a rise in stock figures and a temporary drop in wheat prices on the futures markets.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A month ago, the specialists of the American Department of Agriculture were still assuming an average yield per hectare that would be comparable to that of last year. In the new estimate, the yield has been reduced to 5.39 tonnes per hectare. This means that about 4 percent less wheat comes from a hectare than the five-year average. Excessive precipitation and dark weather during flowering have depressed yields more than previously anticipated. In addition, the humid weather has led to more disease pressure. This also slowed down yields. Wheat in northwestern Europe in particular has been affected by this. The estimate of wheat production in Germany in particular has been reduced this month. The adjustment amounts to 1.5 million tonnes. This brings Germany's total production to 18.8 million tonnes of wheat. In France, the largest wheat producer in the EU, the harvest is now estimated at 27.5 million tonnes. This amount is 1.1 million tonnes smaller than last month's estimate. ...

Source: Nieuwe Oogst