Strategic Grains raises EU corn production forecast by 2.6 million tons

Foreign media news on October 21: The consulting agency Strategic Grain Company issued a monthly report on Thursday, raising the forecast of EU corn production for 2021/22 to 67.
5 million tons, an increase of 2.
6 million tons or 4% from last month’s forecast of 64.
9 million tons.
Percentage points
.
If the forecast becomes a reality, it will increase by 4.
5 percentage points from the previous year’s output of 64.
6 million tons
.
The reason for the increase in EU corn production this month is that the yield exceeds earlier expectations and the Polish output has been raised
.
Due to the increase in production, the EU corn imports in 2020/22 are expected to be 13.
9 million tons, which is 500,000 tons lower than the forecast value a month ago, which is slightly lower than the export volume in 2020/21
.
Despite the increase in corn production, EU corn stocks are still quite tight this year, because corn demand has also been adjusted upwards
.
 　　As the price of corn is competitive with wheat and barley, the feed industry and industrial industries such as starch have increased demand for corn
.
However, analysts at Strategic Grains also warned that the high cost of corn may lead to a worsening outlook for farmers' demand in the future
.
The improved profitability of ethanol production will lead to an increase in the amount of corn used for biofuel production
.
 　　Increased wheat production by 400,000 tons 　　Strategic Cereals also raised EU wheat production for 2021/22 to 129.
5 million tons, which is 400,000 tons higher than the previous forecast, and an 8.
8% increase over the previous year's output
.
 　　According to the report, the increase in wheat prices has led to a decline in the competitiveness of EU wheat in the export market and the feed industry
.
French wheat exports are expected to be lowered by more than 500,000 tons from last month because of the decline in exports to Algeria
.
If wheat prices continue to remain high, the prospects for French exports to Morocco and sub-Saharan Africa will also deteriorate
.
 　　However, Strategic Cereals still raised its forecast for EU soft wheat exports by 1 million tons in 2021/22 to 32 million tons, partly because Bulgaria, Romania and the Baltic countries have already exported large amounts
.
 　　According to the report, the ending stocks of wheat in the EU for the 2021/22 season are still very tight
.
Grain EU corn 　　If the forecast becomes a reality, it will increase by 4.
5 percentage points from the previous year’s output of 64.
6 million tons
.
 　　The reason for the increase in EU corn production this month is that the yield exceeds earlier expectations and the Polish output has been raised
.
 　　Due to the increase in production, the EU corn imports in 2020/22 are expected to be 13.
9 million tons, which is 500,000 tons lower than the forecast value a month ago, which is slightly lower than the export volume in 2020/21
.
 　　Despite the increase in corn production, EU corn stocks are still quite tight this year, because corn demand has also been adjusted upwards
.
 　　As the price of corn is competitive with wheat and barley, the feed industry and industrial industries such as starch have increased demand for corn
.
However, analysts at Strategic Grains also warned that the high cost of corn may lead to a worsening outlook for farmers' demand in the future
.
The improved profitability of ethanol production will lead to an increase in the amount of corn used for biofuel production
.
 　　Increased wheat production by 400,000 tons 　　Strategic Cereals also raised EU wheat production for 2021/22 to 129.
5 million tons, which is 400,000 tons higher than the previous forecast, and an 8.
8% increase over the previous year's output
.
 　　According to the report, the increase in wheat prices has led to a decline in the competitiveness of EU wheat in the export market and the feed industry
.
French wheat exports are expected to be lowered by more than 500,000 tons from last month because of the decline in exports to Algeria
.
If wheat prices continue to remain high, the prospects for French exports to Morocco and sub-Saharan Africa will also deteriorate
.
 　　However, Strategic Cereals still raised its forecast for EU soft wheat exports by 1 million tons in 2021/22 to 32 million tons, partly because Bulgaria, Romania and the Baltic countries have already exported large amounts
.
 　　According to the report, the ending stocks of wheat in the EU for the 2021/22 season are still very tight
.