In the July report, the MARS agency lowered yield forecasts for almost all agricultural crops in the EU

In the July report, the experts of the MARS agency lowered the yield forecasts for most agricultural crops in the EU, and only slightly raised the estimate for wheat.

According to experts, as a result of dry and hot weather in South-Eastern Europe, the yield of late crops this year will be inferior to the average 5-year indicators.

Thus, in comparison with the June estimates, the yield forecasts have been reduced:

• corn – from 7.55 to 7.24 t/ha, which will be 2% less than the 5-year average of 7.35 t/ha,
• rapeseed – from 3.16 to 3.1 t/ha (3.17 t/ha),
• barley – from 5.14 to 5.09 t/ha, which will exceed the average 5-year indicator of 4.93 t/ha by 3%,
• sunflower – from 2.2 to 2.09 t/ha, which will be 2% less than the average for 5 years.

At the same time, the forecast of the yield of soft wheat in the EU has been increased from 5.86 to 5.87 t/ha, which will correspond to the average 5-year indicator.

Quotations on the Paris stock exchange responded to the report with a slight increase on Monday, but remained stable on Tuesday. Traders seem to have decided to wait for harvest results and new forecasts after a wave of rain and lower temperatures in eastern Europe.

https://graintrade.com.ua