EU COM corrects grain harvest downwards

EU COM: Grain harvest partly with regionally higher and partly lower yields than expected The updated estimate of the EU grain harvest is increasingly based on actual threshing results and is therefore becoming more reliable. It turns out that the early harvest dates were only negatively affected by the summer drought in extreme locations, while the late harvests - especially maize - suffered considerable losses. Significant differences can also be observed in the individual regions of the EU Member States . Severe crop reductions were noted in Spain, Italy, central and southern France , while above-average yields were recorded in the Scandinavian countries . In the September 22 issue, the EU-KOM estimates the total grain harvest at around 271 million t or almost 2 million t lower than in August. The previous year's result was 294 million t. (-23 milliont) Decisive production losses of 17 million t are recorded for corn , but wheat production is also 3.5 million t lower. Consumption is estimated to be 4.5 million t lower at 256 million t , mainly as a result of falling feed consumption due to the reduction in livestock. Grain imports , with a focus on corn (75% share), increased by 5 million t compared to the previous year to 27.8 million t. This contrasts with exports of 51 million tons with a wheat share of 72%. The EU therefore mainly exports grain for human consumption and imports feed grain. In the latter case, Spain and Italy play the most important role. The overstocks fall from 48.3 million t at the beginning of the marketing year to 39.9 million t at the end. The supplies last for 57 days (multi-year average). The EU supply situation is in the midfield of previous years. The increased price level is a consequence of the global scarcity.The EU is involved in this price development via the grain trade. This applies all the more the weaker the euro exchange rate ($0.97 = €1). Harvest estimates from various institutions

Despite the different methods used, the harvest estimates of the various institutions are very similar.