European Commission lowered its estimate for the oilseed and cereal harvest

The European Commission on Thursday lowered its estimate for the EU’s main oilseed crops.

Rapeseed production in 2024/25 was cut from 17.2 million to 16.9 million tons, down 14% from last season’s crop; sunflower seed production estimate was reduced from 8.1 million to 8.0 million tons, down 18% from a year earlier.

The European Commission on Thursday lowered its estimate for the European Union’s main wheat crop this season to a 12-year low, confirming the impact of heavy rains on major production areas in western Europe.

In monthly supply and demand data, the Commission lowered its estimate of the 2024/25 usable soft wheat output to 111.9 million tons from the 112.3 million tons previously forecast.

According to the Commission, this season’s crop estimate was 10.6% below the previous crop and was the lowest since 2012/13.

Other observers also forecast the soft wheat crop at a 12-year low, mainly due to France’s lowest harvest since the 1980s.

The Commission did not change its demand forecasts, which assume EU exports of 25 million tons. The reduced crop estimate led to a lower forecast for final soft wheat stocks 2024/25 to 9.4 million tons from 9.8 million last month, oilworld.co.uk quoted Reuters as saying.

As for barley, the estimate for usable production was lowered by 0.4 million tons to 49.4 million tons, although this is 5% above the 12-year low reached last season.

The maize harvest, whose harvesting is almost complete, was cut by 0.1 million tons to 59.5 million tons, almost 3% less than in the 2023/24 season.

Tags: corn, EU, wheat, sunseed, rapeseed