The European Commission predicts a drop in grain production for the 2024/25 season, primarily due to decreased soft wheat production estimates. Meanwhile, US weekly net export sales demonstrate strong demand for US grains, with corn, wheat, and soybean shipments exceeding market expectations.
In its latest cereals market situation report, the European Commission estimated that the bloc’s grain production could fall to 255.8mt for the 2024/25 season, compared to its previous projections of 256.9mt. This is largely driven by a decrease in soft wheat production estimates, which fell from 112.3mt from November projections to 111.9mt for the period mentioned above. This is due to a reduction in the harvest area to 20.2m hectares from 20.3m hectares.
Meanwhile, the exchange reported that the corn planting area remained unchanged at 6.3m ha for the above-mentioned period. Similarly, soybean planting estimates were raised to 76.6% for the 2024/25 season from its previous estimates of 64.7%. The exchange further added that the forecast for more showers could continue to improve the country’s wheat crop condition as well.”“US weekly net export sales for the week ending 12 December show strong demand for US grains over the week.
GRAIN PRODUCTION EUROPEAN COMMISSION US EXPORTS CORN WHEAT SOYBEANS
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