Corn: Record Impact Requirements 2018/19 in the EU?

The EU corn crop starts very early this year and analysts expect lower yields due to drought. This could result in a record import requirement. Analysts from agricultural consultancy Strategy Grains yesterday lowered the forecast for EU corn crop by nearly 5% due to drought in France, Germany, Poland and Central Europe. After a weather-related weak wheat harvest and a lack of grass and hay, a modest corn crop is now expected. The import requirement for corn in the marketing year 2018/19 is estimated by Grains to be 21 million tonnes versus 18 million tonnes in the 2017/18 marketing year. The USDA is with its estimate of 12.09. with an import requirement of 19.5 million tons.
In France, the EU's largest corn producer, the Department of Agriculture this week lowered its forecast for the 2018 harvest by almost 13 percent below the previous year's level.
Most traders and analysts expect a corn harvest of 11.0 - 11.5 million tonnes in France. The estimate of the Ministry of Agriculture is 12.4 million tons. In addition, the greater shift to feed maize due to the shortage of feed could further burden stocks.
According to DRV estimates, in Germany the grain maize harvest will only reach a volume of 2.3 million tons. That is a year-on-year decline of 49%. Due to the continuing drought, the demand for livestock farms and biogas plants for corn has increased sharply at the expense of grain maize.
In Poland, the corn crop may decline by 2-3% to 4.2 million tonnes this year

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