Commission slashes forecast the corn end stocks 2016/17

The EU has reduced the estimate of corn stockpiles at the end of the season 2016/17 Commission in its monthly report. While it had been expected last month with a population of 15.9 million tons, is now 9.95 million tonnes. The decline is mainly the lower estimate of the initial stock of 12.2 million tonnes due versus 18.5 million tons in the previous month.
The estimate of Weichweizenendbestände increased to 10.2 million tons from 10.0 million tonnes. The forecast of the EU soft wheat exports remained unchanged from 24.0 million tons. Yet 32.7 million tons of wheat were exported in the marketing year 2015/16.
To 9.8 million tonnes, the Commission increased the estimate of barley closing stock (previous month 8.6 million tonnes). Also this reduction is explained by the lower estimate of initial data.

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