USDA reduced the forecast of wheat exports from the EU

Foreign agricultural service at USDA has revised downward the forecast of the production and export of wheat from European countries.

the Prospects of the wheat harvest in most countries of the European Union are quite positive. The only exception is France, which is the largest grain producer in the EU. Yield and quality of cereals significantly worsened through the wet and cloudy weather that prevailed over the country during the last two months. So FAS USDA lowered the forecast of grain production in the EU to 312 million tons, almost the same than last season, however 16 million tons less than the record harvest of the season 2015/15 MG.

the Gross harvest of wheat (soft and hard) will be 5.5 million tons less than last year and will amount to 154.5 million. However, experts FAS USDA openidauth that this forecast may decrease.

the Forecast of wheat exports reduced to 30.5 million tons, which will be the lowest result over the past four years. Whereas in the previous season, the EU exported 33.5 million tons of wheat.

At the same time, the forecast of grain harvest in Russia increased from 101 million to 107.7 million. Gross harvest of major crops relative to the previous season will be:

the

• wheat - 65 million tons against last year 61,044 million tons,
• the
• barley - 17.5 million tone against 17,083 million tons,
• the
• corn – 13.5 million tone against 13,168 million.

the Exports of Russian grains may reach 33.2 million tons, which will be the second figure after the record-breaking previous season, when it was sold to foreign markets 34.5 million tons of grain.