Latest short-term outlook report highlights that EU total cereal production for 2018/2019 is expected to be at 299.3 mt, a decrease of 2.5% in comparison with 2017/2018. More specifically, soft and durum wheat productions are forecasted to decline by respectively 3% and 5% compared to last year. As for maize, it is still early to predict its harvest as crops develop later in the summer but the increase in area suggests that 2018/2019 harvest could be close to 64 mt for the third consecutive year.
Nonetheless, EU and global cereal stocks are ample and despite strong global demand, it is premature to anticipate any significant rise of world prices.
EU oilseed production should decrease by 4.6% compared to last year’s record harvest, forecasted at 301.9 mt in 2018.
Thursday July 4, 2018/ DG-Agri/ European Union.