In the November survey, the experts of the European Commission published the forecast for the corn harvest in the EU 2022/23 reduced by 1,6 million tons to 53,3 million tons, which is also almost 20 million tons below the result of the same period last year.
At the same time, the forecast for domestic consumption of Grain crop kept by analysts at 77,3 million tons (2021/22 at 82 million tons) and increased the forecast for its imports by 1 million tons per month to 23 (16,3) million tons.
EU end corn stocks are expected to be 16,3 million tonnes (-4,1 million tonnes per year) in the current season.
Regarding wheat, the estimate of its production in the 2022/23 season has been reduced by 200 thousand tons per month to 127 million tons (-2 million tons per year). The forecast for domestic grain consumption was significantly increased by 1 million tons per month to 97,1 million tons (+1,4 million tons per year) and reduced by 2 million tons the forecast for export of European wheat to 34 million tons ( even higher) the result of 2021/22 MG to 29,3 million tons). Final stocks are expected to be at last year's level – 15,5 million tons.