Strategy of grains reduced wheat export forecast for 2015/16

The private analyst strategy of grains has lowered its Outlook for European soft wheat exports 2015/16 for the second time as a result. Strong competition from the Black Sea region and the lower import demand from the Middle East were cited as a reason.
In the monthly report, companies reduced the forecast of European soft wheat exports by 2015/16 (1 July - 30 June) to 27.5 million tons. That would be a decline of 1.1 million tonnes to the previous forecast in May. The forecast by 2.6 million tons was reduced in April.
"The EU will be unable to compete with the Black Sea region (Russia and Ukraine). Exceptions are only Bulgaria and Romania. The trade surplus in these two countries is limited", so strategy grains.
The EU could drive a record export earnings due to the great harvest, the decline of the euro and the tax on wheat exports in the current marketing period, introduced by Russia in February 2014/15. The prognosis for this is located at 32.8 million tonnes (+ 600,000 tons compared to the previous month).
Increased exports and the increase in the consumption of wheat as animal feed leads in the forecast to a decline of EU wheat closing stock to 1.1 million tons to 14.8 million tonnes in 2015/16. Source: Reuter

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