- EU Wheat Production Drop: 2024 forecast lowered despite favorable conditions in Spain, due to heavy rain in France.
- Export Impact: Reduced production may enhance Russia’s position as the top global wheat supplier.
- Barley and Maize: Increased barley forecast by 10.5%, maize production slightly higher than last year.
EU wheat harvest forecast
Strategie Grains has slightly raised its forecast for the 2024 soft wheat harvest in the EU due to favorable conditions in Spain. However, total production is still expected to be significantly lower than the previous year, mainly due to excessive rainfall in other parts of the world, which had a negative impact on the sowing phases.
Implications and forecasts
The consultancy pointed out that the EU is a major player in the global wheat market and lower production could limit its export capacity, strengthening Russia’s position as the top exporter. The report also adjusted the figures for other grains: Barley production is expected to increase by 10.5% compared to last year’s drought-affected output, while maize production is expected to decrease slightly compared to the original March forecast, but will still be higher than last year’s harvest.
