Reduced production forecasts for France, contributes to higher prices
a new report by the Ministry of agriculture of France through adverse weather conditions prevailing in the country, significantly reduced the production forecasts of wheat and corn, according to Reuters.
the yields of grains and oilseeds has declined significantly because of the heat, strong winds and precipitation during the harvesting campaign.
In comparison with the July forecast of the USDA lowered its estimates of wheat production by 1 million tonnes to 35.1 million tonnes (4% inferior to the crop of 2017 36.6 million t), and forecast its yield from 7.31 to 7.11 t/ha against of 7.37 t/ha last year.
Assessment of corn production was reduced to 12.8 million tonnes, which is 10% lower than in 2017 14.3 million tonnes, and the forecast yield decreased to 9.03 t/ha, compared with 10.1 t/ha in 2017.
in addition, in comparison with the last year reduced the forecast production for the following crops:
of durum wheat by 13% to 1.84 million tonnes,
barley by 3% to 11.8 million tons.
- rapeseed 14% to 4.6 million tons,
news about the reduction in harvest in France the price of wheat, corn and rapeseed on Euronext yesterday continued growth. Traders expect the new USDA forecast, which will show real-world balance and will help to create prices for the new season.