Market update week 39
🚜 COCERAL Reports Significant Decline in EU and UK Harvests, Barley Being the Exception 🌾
In its latest report, COCERAL has revealed a notable drop in harvest volumes across the European Union and the United Kingdom, except for barley:
• Soft Wheat: 126 million tons, down 10.2% from 140.3 million tons last year.
• Barley: 57.6 million tons, up 5.08% from 54.8 million tons.
• Corn: 60.3 million tons, a 6.51% decline from last year’s 64.5 million tons.
🚜 COCERAL Reports Significant Decline in EU and UK Harvests, Barley Being the Exception 🌾
In its latest report, COCERAL has revealed a notable drop in harvest volumes across the European Union and the United Kingdom, except for barley:
• Soft Wheat: 126 million tons, down 10.2% from 140.3 million tons last year.
• Barley: 57.6 million tons, up 5.08% from 54.8 million tons.
• Corn: 60.3 million tons, a 6.51% decline from last year’s 64.5 million tons.
🔍 Supply Chain Focus: All eyes are on Russia, where sowing activities are delayed, with only 8.27 million hectares of winter crops planted. This lag is reminiscent of 2020 when winter wheat acreage was significantly reduced in certain regions. While exports from Russia and Ukraine remain strong, limited supply could impact the second half of the marketing year.
🔍 Supply Chain Focus: All eyes are on Russia, where sowing activities are delayed, with only 8.27 million hectares of winter crops planted. This lag is reminiscent of 2020 when winter wheat acreage was significantly reduced in certain regions. While exports from Russia and Ukraine remain strong, limited supply could impact the second half of the marketing year.
🌦 Weather Impact: weather conditions in European Russia have deteriorated, particularly in the Central, Volga, and Southern areas, due to abnormally warm and dry weather. Meanwhile, improved weather in the Urals and Siberian regions is helping accelerate their harvest campaigns.
🌦 Weather Impact: weather conditions in European Russia have deteriorated, particularly in the Central, Volga, and Southern areas, due to abnormally warm and dry weather. Meanwhile, improved weather in the Urals and Siberian regions is helping accelerate their harvest campaigns.