EU COM reduces grain harvest 2023 to around 272 million tons. In its most recent August issue, the European Commission (EU-KOM) cut the 2023 grain harvest to 271.7 million t by around 2 million t compared to the previous month's estimate. In the previous year , 265.3 million . t reached. Measured against a multi-year average, the current result is still well below previous results of just over 280 million t. Harvest estimates have been continuously revised downwards this year as a result of adverse weather conditions. The results from different institutions are increasingly closer together At 133 million tonnes, the 2023 EU wheat harvest only slightly exceeded the poor result of the previous year. Rye and triticale suffered losses. Barley, on the other hand, achieved a good average result at 48.6 million tons due to the early, rain-free harvest date. For the maize harvest , the EU COM expects around 61.7 milliont; the heavy rainfall lately has boosted yield expectations. In terms of consumption , the EU COM assumes that there will be little change at 256.4 million t. The usually stagnating consumption in human nutrition is supplemented by an almost unchanged feed consumption due to reduced animal numbers. Exports of 47.8 million t should also remain unchanged compared to the previous year. The focus of exports is on wheat with an estimated 32 million tons. On the import side , a drastic decline from last year's almost 40 million t to this year's 25.6 million t is predicted. Maize imports are expected to drop to 17 million tonnes due to the high volume of domestic feed wheat. Inventories are reduced from 47.8 million in the previous year to 42.1 million t. However, the reserves are still in a good midfield compared to previous years.Stock exchange prices in Paris remain relatively stable with wheat trading at €233/t for the Sep 23 deadline and corn reaching €215/t for the Nov 23 delivery.
