EU COM corrects EU grain balance - supply situation tighter In its most recent monthly issue at the end of November 2023, the EU Commission (EU COM) updated the EU grain balance . As a result, the harvest will be slightly smaller than last year, while consumption is estimated to be 0.73% higher. However, there were major changes in third country trade . Exports are expected to fall by -3.7% and imports are expected to fall by -21.6%. The background is the declining animal population, which is severely reducing feed imports, especially corn. Inventories fall by around 5.5 million tonnes to 45 million tonnes. In the wheat market , an export of 31.5 million t and an import of around 9 million t of mainly quality wheat are forecast. Wheat stocks are falling and around 1 million tons. Almost 60 million tons of corn are to be harvested and 20 million tons are to be imported to cover consumption. Spain remains the largest importer of corn. Inventories fall by 1.25 million t. The EU-COM estimates the barley harvest at around 47 million tonnes, of which 9.5 milliont be exported to third countries. Similar developments can be observed for the other types of grain with a production volume of 26 million tonnes. Conditions are particularly tight in the oat market, where reserves only last for 47 days.
