The lowest corn yield over the last 5 years is expected in the EU
The European Commission experts forecast low corn yield in the southeastern countries in 2017/2018 MY due to hot and dry weather.
This information was reported by Zerno On-Line.
In June 2017, 62.1 million tons of corn were forecasted. As of now, the harvest of not more than 58.4 million tons is expected, and this is the lowest indicator of corn production since 2012/2013 MY.
The EU's corn deficit will be eliminated by increased imports. According to the experts, the deficit will grow from 12.3 million tons (June forecast) to 15.3 million tons. This amount exceeds the import of the season 2016/2017 (12.9 million tons), and also a record import of the season 2007/2008 (15.1 million tons).
The monthly forecast of wheat production in the EU has decreased from 138.9 million tons to 138.6 million tons. But it is still more compared with 34 million tons harvested last year.
The forecast for barley production is increased by 500 thousand tons to 57.5 million tons.
The forecast of rapeseed production has been reduced from 21.7 million tons to 21.6 million tons.
Let us remind that the International Grains Council (IGC) in its report as of July 2017 mentioned that the forecasts of world production of corn, wheat, and barley are reduced due to hot and dry weather in a number of the countries in the North America, Europe, and Australia.