October 11, 2013

EU wheat output forecast down, corn up

Due to lower acreage in Belgium, France, Spain and Austria, Strategie Grains slashed its estimate of the EU's 2013-14 soft wheat harvest by 0.3 million tonnes to 135.2 million tonnes.

"Black Sea wheat (from Russia and Ukraine) gained in competitiveness since last month, but not enough for us to increase our estimate of soft wheat imports from the EU. Black Sea wheat is now at price parity with French and UK wheat in southern EU countries," said the grains body.

After increasing its harvest estimates for Hungary, Poland and Bulgaria, Strategie Grains raised its estimate of the 28-member EU's 2013-14 corn production by 0.9 million tonnes to 64.9 million tonnes.

"Imports from third countries climb by 0.3 million tonnes over last month, to 9.6 million tonnes. That is the result of a drop in the competitiveness of French corn in relation to the other EU countries, of Ukrainian corn maintaining healthy competitiveness in the EU and of an increased demand for corn in animal feeds," said the forecaster.