Strategie Grains cuts EU wheat crop forecast

PARIS: Strategie Grains again reduced its monthly forecast for European Union wheat production, now seeing the crop falling below last year’s level after disappointing harvest results, the French consultancy said on Thursday.

The consultancy expects EU soft wheat production of 124.7 million metric tons in the 2023/24 season, down from 126.2 million forecast in July and slightly below an estimated 125.3 million in 2022/23.

Strategie Grains has revised down its EU cereal crop forecasts in recent months as the bloc has faced drought and heatwaves and it said in its August report that heavy rain in northern Europe was raising the risk of quality and yield loss.