EU Grain Crop Forecast Slashed Amid Heatwaves

The European Union's (EU) grain and oilseed crop forecast has been reduced to 279 million tons due to adverse weather conditions. The downward revision was made by Coceral, a prominent agricultural organization.

Wheat production, excluding durum wheat, is expected to reach 137.5 million tons in the current season, down from a previous estimate of 140.8 million tons. This reduction is mainly attributed to crop damage in Germany, Poland, and France due to summer heatwaves.

The maize production forecast has also been lowered from 52.7 to 48.6 million tons, with significant declines expected in countries like France and Hungary. In addition to weather-related issues, a decrease in the area under maize cultivation across the EU is also contributing to this reduction.