Dry weather in northern Europe has prompted many to start cutting production estimates
This year’s grain harvest in the EU, plus the UK, is now seen at 296.7m tons, Coceral says in an emailed report.
The outlook is down from a March forecast for 303.5m tons due to dryness in the northern half of the bloc
This would still top last year’s harvest of 291.1m tons
Production cut for areas including the Baltics, Denmark, Germany and Spain
Latest expectations for the 2023 harvest:
Matif wheat, Sept23
Tunisia cancelled their tender on Friday that would have given the market a view of how Russian would price after the last Egypt tender implied a USD 240 FOB floor price
Ukraine reported cumulative grain exports since July 1 at 46.7 MMT, down from 47.8 MMT a year ago, with exports in June so far at 1.4 MMT.
Mpls wheat +1
KC wheat -3
Chic wheat +1
Matif wheat +2
Soybean oil -19