18:18, 17.04.2014 — Новости
автор: OilWorld.Ru

DJ Strategie Grains Lowers View Slightly on 2014-15 Wheat, Corn Harvest


Strategie Grains on Thursday slightly lowered its estimate of the European Union's 2014-15 soft wheat harvest by 500,000 metric tons, to 137.2 million tons, mainly because of lower acreage in Lithuania where there was higher-than-expected damage during the winter.

"The 2014-15 crop year will start in the EU with stock very close to that of 2013-14. Production remains forecast up by 2 million tons but it has been revised down by 0.5 million tons since last month to take account of winter damage in the Baltic countries and small adjustments to the wheat acreage in a number of countries," said the grains body.

It warned however that dry weather in north-east France, southern Germany and Czech Republic may threaten yields if there is no rainfall near-term.

Elsewhere, the European bloc's 2014-15 corn acreage is revised lower by 100,000 tons to 65.1 million tons due to lower expectations for Italy, Portugal and Hungary.

"Ukrainian maize [corn] is currently attractive at the beginning of the new crop year," said the body. And it suggested that as a result European corn prices could face downward pressure, especially in France and Hungary, in order to keep demand at export level or for use as animal feeds.

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