The European Commission on Friday cut its forecast for the European Union’s wheat harvest in 2022/23, but kept its forecast for record exports as the war in Ukraine disrupted the supply chain.
In its monthly estimates of grain supply and demand, the Commission reduced its forecast for usable common wheat production in 2022/23 to 130.1 million tonnes from 131.3 million tonnes previously.
It maintained its forecast for soft wheat exports in the period 2022/23 at 40 million tons, a quantity that would be a record.
However, the Commission increased its forecast for common wheat stocks by the end of 2022/23 to 12.6 million tonnes from 12.2 million a month earlier, reflecting an upward revision of this expected supply. the period.
For 2021/22, final stocks of common wheat increased to 14.8 million tonnes from 13.2 million tonnes previously, as projected exports fell by 1 million tonnes and expected imports increased by 0.5 million tonnes .