The agricultural consultancy strategy Grains has increased its forecast of EU wheat exports in the current marketing year 2019/20 due to the high demand and less competition.
In its monthly report, the French-based company expects export of common wheat to 34.3 million tons in the EU, increasing its forecast of 32.4 million in April.
The inventory estimate at the end of the season on June 30 was reduced from 13.7 million to 12.6 million tons.
For the next season, the forecast for the common wheat harvest in 2020 has been reduced from 135.0 million to 132.9 million t.
The next season's corn production forecast was reduced from 67.3 million tons to 65.9 million tons, while the forecast for barley was increased from 62.3 million tons to 62.6 million tons.
Source
Hansa Terminhandel GmbH
