EU lowered forecast of cereal production due to drought in Spain
Extreme aridity in Spain and other parts of western Europe, as well as cold weather in some countries in the spring, has led forecasters to reduce yield prospects in the EU.
In the monthly supply and demand report released on Thursday, the European Commission reduced its EU barley production forecast for 2017/18 to 59.5 million tonnes, With 62.4 million tons estimated previously.
Barley production forecast for this crop is forecast at 59.6 million tonnes, due to a decline in French harvest.
Drought in Spain affects barley crops, the European Commission said.
EU chief executive cut wheat yield prospects in 2017/18 to 141.3 million tons from 141.9 million tons, but is expected to rebound from 134.4 million tons in 2016. / 17.
EU corn production is expected to fall to 64.2 million tonnes, up from 66.5 million tonnes, up from an estimated 60.6 million tonnes this year.
The Commission’s harvest forecast reduction cut the grain reserve forecast at the end of 2017/18. Corn stocks fell sharply to 10.2 million tonnes from the previous estimate of 13.4 million tonnes.
EU CEOs have not changed the outlook for wheat exports in coming season, at 28.9 million tonnes, from a revised 24 million tonnes in 2016/17.
For corn, the EC reduced its import forecast for this crop year to 11.7 million tons, compared to the previous estimate of 12.3 million tons.
For oilseeds, the EC reduced its estimate of rapeseed production by 2017/18 to 21.9 million tons from 22.2 million tons, but still higher than the estimated 19.7 million tons in 2016/17. .
(According to Reuters)
