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EU raises wheat export forecast for 2021/22

PARIS, Nov 25 (Reuters) – The European Commission on Thursday raised its forecast for European Union common wheat exports in 2021/22 to 32.0 million tonnes from 30.0 million projected last month.

The upward revision reflected “the dynamics of the common wheat market since the beginning of the 2021/22 marketing year,” the Commission said in a presentation accompanying the monthly grain supply and demand data.

Increased export prospects led the Commission to trim its end-of-season soft wheat stock forecast to 12.7 million tonnes from 13.9 million.

It also slightly raised its 2021/22 usable soft wheat production estimate to 130.4 million tonnes from 130.3 million.

For maize, the Commission raised its forecast of usable production in 2021/22 in the 27 EU countries to 68.4 million tonnes from 67.8 million tonnes a month ago, and left its forecast unchanged of imports in 2021/22 at 14.5 million tons.

(Reporting by Gus Trompiz and Sybille de La Hamaide. Edited in Spanish by Javier Leira)

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