MARS lowered its yield forecasts for almost all crops in the EU
In their July report, MARS experts lowered their yield forecasts for most EU crops, with only a slight increase for wheat.
According to the experts, due to dry and hot weather in southeastern Europe, this year’s yields of late crops will be lower than the 5-year average.
Thus, compared to the estimates of June, the yield forecasts have been reduced:
- corn – from 7.55 to 7.24 t/ha, which is 2% lower than the 5-year average of 7.35 t/ha,
- rapeseed – from 3.16 to 3.1 t/ha (3.17 t/ha),
- barley – from 5.14 to 5.09 t/ha, which is 3% higher than the 5-year average of 4.93 t/ha,
- sunseed – from 2.2 to 2.09 t/ha, which will be 2% less than the 5-year average.
At the same time, the forecast of milling wheat yield in the EU has been increased from 5.86 to 5.87 t/ha, which will correspond to the 5-year average.
On Monday, quotes on the stock exchange in Paris reacted with a slight increase, but on Tuesday remained stable. It seems that traders decided to wait for the results of the harvest and new forecasts after a wave of precipitation and lower temperatures in Eastern Europe.
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