corn and soybean
BRUSSELS, BELGIUM — Due to dry conditions in late spring in various regions across Europe, E.U. cereal production is estimated below average in 2018-19, according to a European Commissionreportpublished on July 5.

The report highlights that E.U. total cereal production for 2018-19 is expected to be at 299.3 million tonnes, a decrease of 2.5% in comparison with 2017-18. More specifically, soft and durum wheat productions are forecasted to decline by 3% and 5%, respectively, compared to last year. As for maize, it is still early to predict its harvest as crops develop later in the summer but the increase in area suggests that 2018-19 harvest could be close to 64 million tonnes for the third consecutive year.

“Nonetheless, E.U. and global cereal stocks are ample and despite strong global demand, it is premature to anticipate any significant rise of world prices,” the European Commission said.

E.U. oilseed production should decrease by 4.6% compared to last year’s record harvest, forecasted at 33.3 million tonnes in 2018.

To view the full report, click here.