The Commission has reduced its harvest estimate for wheat today strongly raised, but the expected closing stock, because in the next marketing period, the extra offering should lead to a larger volume of exports.
In its monthly supply and demand, estimation estimates the Commission on the EU Web site the 2016 wheat harvest today to 145.1 million tons, it was from 142.8 million tonnes in the previous month. Thus the harvest estimate but still well below the production remains in 2015, which stood at 151,6 million tons.
The earnings estimate remains at an above-average value, because the vegetation conditions across the EU are good.
The stocks are estimated at the end of the next marketing period now at 18.4 million tons, according to 18.9 million tonnes in the previous month. It is to infer that the exports will be higher in the current season as well as in the next marketing period. For the current season, the export now on 30 million tons has been raised to 29 million tons in the last month. It is by 29 million tons of wheat exports for the next marketing year.
Higher exports will also help the closing stock is estimated now at 17.5 million tonnes, after estimated 18.3 million tonnes in April. This is the opening balance for 2016/17 low.
