EU cereal harvest 2016 just below or above the previous year?-European Commission and International Grains Council with different estimators results
The European Commission estimates the EU cereal harvest in the latest may issue on rd. 312,8 million tonnes, while the International Grains Council (IGC) in its most recent forecast only to 309,6 million tonnes at the same time. Last year the result almost unanimously by both sides is estimated over 310 million tons on something.
In the case of wheat estimate are both institutions with 153.6 million t at the same height. These are approximately 6 million tonnes of less compared to the previous year. Consumption, the Commission assumes a constant amount of 127.2 million tonnes the previous year, while the IGC estimated 1.5 million tonnes of less. A higher export and less high feed wheat use are cited as reasons. The Commission also assumes a slightly smaller feed wheat usage, but is lower wheat export of compared to 1 million tonnes of.
The Weizenendbestände estimated at the IGC with a falling tendency to 15.8 million tonnes while the Commission is based on an inventory build-up to 20.5 million tonnes.
The EU maize harvest does the Commission with 65.7 million tons to 2 million tons higher as the IGC. Compared to the extremely weak last year by 58 million, this classification is an improvement, however, the development is only at the beginning. Significant differences of over 4 million tons can be observed in consumption.
The Commission is located at the other crop tends to be slightly higher in their approaches.
Regardless of the divergence still high uncertainty must be pointed out at this stage that. The yield-critical period of flowering and grain filling phase is just yet. It decides whether the usual assumptions of yield per hectare prove as true.
Whether the lower crop expectations to the previous year is reflected in a possible fixing the grain rates , EU is heavily influenced by other markets outside of the with.