Strategie Grains again increased the forecast of wheat production for the EU

2019-09-20 12:10:16
Machine translation
Strategie Grains again increased the forecast of wheat production for the EU

the Second consecutive month, experts Strategie Grains forecasts increase of production and export of soft wheat to the EU.

 

compared with the August report, we forecast production increased by 1.1% to 144.5 million tons which is 14% higher than the harvest of last season.

 

Assessment of export soft wheat from the EU to 2019/20 Mr increased by 3.6% to 25.7 million tonnes, which is by 22.3% higher than the previous MG.

 

Ending stocks of wheat in the EU will rise as a result of increased consumption of livestock sector of alternative raw materials – corn and barley.

 

the Increase in forecast wheat production in the EU is not worried traders, as the grain export active enough. Yesterday on Euronext wheat futures rose 0.25 €/t to 171,75 €/t or 189,86 $/t

 

the Market was supported by active procurement of wheat, the main importers of European grain – Algeria, Tunisia and Morocco.

 

Grain Agency of Morocco (ONICL) October 02, will hold a tender for the purchase of 576 thousand t soft and 45,455 thousand MT of hard milling wheat in the European part of tariff quotas.