August 11, 2023

EU's soft wheat output expected to be at 124.7 million tonnes in 2023/24 season  

Strategie Grains has again reduced its monthly forecast for the European Union's wheat production, now seeing the crop falling below last year's level after disappointing harvest results, the French consultancy said on August 10.

The consultancy expects EU soft wheat production of 124.7 million tonnes in the 2023/24 season, down from 126.2 million tonnes forecast in July and slightly below an estimated 125.3 million tonnes in 2022/23.

Strategie Grains has revised down its EU cereal crop forecasts in recent months as the bloc has faced drought and heatwaves and it stated in its August report that heavy rain in northern Europe was raising the risk of quality and yield loss.

It cut its EU corn crop estimate by 2.1 million tonnes to 58.7 million tonnes, after growing conditions worsened in southern Europe in July. The revised forecast was still 6.5 million tonnes above last year's drought-ravaged production.

Strategie Grains marginally raised its outlook for the EU barley harvest, to 47.2 million tonnes from 47.1 million tonnes last month, but the forecast remained over four million tonnes below than last year's production.

- Reuters