PARIS (Reuters) – Coin trade on Friday raised its production target for soft wheat in the European Union and the United Kingdom from 141.3 million tonnes in March to 143 million tonnes in March, largely due to heavy rainfall over Spain.
The forecast exceeds the production of 143.9 million tonnes by 2021, Koceral said.
“The forecast has improved, especially with timely rains in Spain,” the company said in a statement with its crop estimates.
Spain is one of the EU countries that experienced the worst climate this year. However, in recent weeks the drought has worsened in other parts of Europe, especially in France.
However, Coceral raised its French soft wheat crop forecast for March from 34.5 million to 34.8 million tonnes, reconsidering the area under cultivation, and its yield forecast remained unchanged.
The EU’s soft wheat production forecast was 127.4 million tonnes in March, compared to 126.9 million tonnes in the year ago, including British, Coceral data shows.
Cossack said estimated corn production from 27 EU countries and the UK had fallen from 67.3 million tonnes in March to 66 million tonnes, and has now dropped to 67.2 million tonnes by 2021.
(Report by Gus Trombis)
