The European Commission has released the forecast for the wheat production in the European Union increased by 2022 million tonnes to 2023 million tonnes in 0,3/130,4, which is also more than the 2021 million tonnes harvested in 22/130,1.
At the same time, the forecast for European wheat exports in the new season has been lowered by 2 million tons per month to 38 million tons. Total grain shipments for 2021/22 are expected to be 31 million tons (-1 million tons per month).
Also the prognosis for the corn production in the EU for 2022/23 has been reduced - from the forecast 73,4 million tons in the previous month to 72,5 million tons. At the same time, the forecast for the import of grain is increased by 4 million tons to 13 million tons. Experts point out that the total imports of corn to the countries of the bloc in the current season will reach 16 (+ 2) million tons.
As far as the oil plants are concerned, the EU Commission has released the prognosis for the rapeseed harvest in the EU 2022/23 slightly reduced – to 18,1 (-0,2) million tons and Sunflowers to 10,9 (-0,3) million tons.
Note that the forecast for EU sunflower oil imports in 2022/23 is increased by 0,6 million tons per month to 1,5 million tons. 1,9 million tons are expected for the current season.