EU Grain Production Expectations Cut
Total EU grain output for 2018 has been revised down by COCERAL in its second forecast for the season.
Output is now estimated to be 299.1 million tons, down from a previous estimate of 302.5 million tons. If correct, it would result in production almost even with last year’s output of 299.2 million tons.
Ongoing dry weather has driven the organization to revise down its estimate for wheat production for Germany, and across the Scandinavian and Baltic regions, while wheat output for France and Spain have been revised up. However, overall, wheat production is estimated to end at 138.8 million tons, down from 141.6 million tons harvested last year.
Corn production estimates have been revised down to 60.3 million tons from a previous estimate of 61.7 million tons due to challenges in the early season, but barley production is expected to be slightly higher at 60.8 million tons, up from 60.3 million tons. Meanwhile, rapeseed production is expected to see a notable decline to 21.1 million tons from 22 million tons.
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