EU cuts maize crop forecast by 8%, raises import outlook

The European Commission has lowered its monthly forecast for this year's maize harvest in the European Union by 8%, or 5.9 million tonnes, joining other forecasters who have cut their expectations due to torrid weather in the bloc.

 

Gus Trompiz, Reuters

via Nasdaq - Aug 1, 2022

 

PARIS, Aug 1 (Reuters) - The European Commission has lowered its monthly forecast for this year's maize harvest in the European Union by 8%, or 5.9 million tonnes, joining other forecasters who have cut their expectations due to torrid weather in the bloc.

 

The Commission now sees the EU maize (corn) crop at 65.8 million tonnes compared with 71.7 million forecast in late June and 72.7 million harvested last year, supply and demand data posted late last week showed.

 

The Commission did not refer to weather conditions in a website note, but said the forecast cut mainly reflected lower yield projections for Germany, Spain, France, Italy, Hungary, Romania and Slovakia.

 

Maize crops have endured heatwaves and worsening drought during their crucial summer growth period.

 

Expected EU maize imports in the 2022/23 season were increased by 1.5 million tonnes to 16.5 million tonnes, now in line with the volume imported in 2021/22, the Commission's data showed...

 

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