Reduced production forecasts for the EU support prices for wheat

the European Commission has once again lowered its forecasts for soft wheat production for EU-27 in 2020 compared to the may estimates the crop reduced by 4.3 million tons up to 117.2 million tons, 13.7 million tons lower than in 2019 Estimation of sowing areas and yield forecasts are also reduced.

export Forecast of soft wheat in 2020/21 MG reduced by 1.5 million tons to 25 million tons compared to 34 million tonnes in 2019/20 Mr.

it is Expected that the production of barley in the EU will decrease by 100 thousand tons to 56.1 million tons.

the Market for French wheat on Thursday grew to support speculative increase of quotations in Chicago and a weak Euro. However, experts believe that further growth will limit the increase of forecasts of the wheat harvest in Russia. In addition, despite the pessimistic forecast of the European Commission, traders will be hoping to improve productivity in France after precipitation of June.

the

• September futures milling wheat on MATIF rose by 0.25 €/t to 177,25 €/t or 198,87 $/t

On the stock exchange in the US continue to push the active harvest and the strengthening of the dollar. But July futures on soft wheat in Chicago on Thursday rose by speculators covered short positions.

the July wheat futures in the U.S. fell:

the

1.93 $/t to 187,76 $/t on a firm spring HRS wheat in Minneapolis.

• 0.55 $/t to 157,90 $/t for solid winter HRW wheat in Kansas city

Rose 2.02 $/t to 178,85 $/ton SRW soft winter-wheat in Chicago.