Strategie Grains Raises EU Wheat Harvest, Export Outlook Again

By Dayeeta Das
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Strategie Grains Raises EU Wheat Harvest, Export Outlook Again

Strategie Grains increased its forecasts sharply for EU soft wheat production and exports for the second month in a row, pointing to strong harvest results in France and Britain and brisk shipments from Romania and Bulgaria.

The French-based consultancy now sees 2019/20 soft wheat production in the 28-country European Union at 144.5 million tonnes, up from 142.9 million tonnes projected in August and about 14% above last year's drought-hit crop, it said in a monthly grain report.

Upward Revision

The upward revision, after Strategie Grains already raised its soft wheat harvest estimate by over 2 million tonnes last month, reinforces a market consensus that EU wheat crops mostly escaped damage from record-breaking heatwaves this summer.

For exports, Strategie Grains pegged EU soft wheat shipments this season at 25.7 million tonnes, up from 24.8 million projected by the firm a month ago and well above around 21 million exported in 2018/19.

However, wheat stocks in the EU were now expected to rise in 2019/20 as competition from maize (corn) and barley for use in animal feed and from other wheat origins in export markets would cap demand, Strategie Grains.

News by Reuters. Click subscribe to sign up to ESM: European Supermarket Magazine.

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