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Experts downgrade forecasts for next agricultural season EU wheat output
10.05.2018 23:48 "Agro Perspectiva" (Kyiv) —
The European wheat market, after having been enjoying the wheat overproduction within a few years, is going to face wheat offer shortage within the next agricultural season (to start Jul 2018) due to some EU countries having suffered droughts, Interfax-Ukraine says referring to the research and analysis company Strategie Grains experts’ forecasts.
As to the Strategie Grains, EU 2018/19 agricultural season wheat output will total 140.8 million tons (down 200,000 tons against experts’ forecasts and down against this agricultural season wheat output).
It is to be admitted, the Strategie Grains’ experts have downgraded forecasts for Germany, Hungary, Czech Republic and Bulgaria.
Besides, the Strategie Grains’ experts have warned they can additionally downgrade their forecasts for EU wheat output if the dry weather remains within the Central and South-Eastern Europe.
It is to be admitted, on Paris Exchange, the wheat prices have been going down within 5 years already, but since early 2018 wheat prices have grown by almost 10%. Thus, as of today, Paris Exchange wheat main contract price remained about EUR173.5 per ton.
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