August 21, 2007

Toepfer sees EU 2007/08 grain crop at 253 million tonnes
 

Hamburg-based grain trading house Toepfer International in a monthly report Monday (Aug 20) forecast 2007/08 European Union grain output at 253.4 million  tonnes, down 2.2 percent from last season's output.

Toepfer forecasts EU soft wheat output at 113.3 million tonnes, down 2.7 percent from last year's crop. Durum production was estimated at 7.5 million tonnes, down 7.5 percent from 2006/07.

EU corn production was estimated by Toepfer at 44.8 million tonnes, down 12 percent from 2006/07. The smaller corn harvest will result in higher import demand of which due to genetically-modified issues with US corn can only come from Brazil, the report said.

Meanwhile total 2007/08 barley output was forecast by Toepfer to be up 1.7 percent on the year at 57.1 million tonnes.

Germany's total 2007/08 grain crop was forecast by the firm at 40.4 million tonnes, down 6.7 percent from last season.

Alfred C. Toepfer International Gmbh serves as the European trading group for US-based Archer Daniels Midland Co.