This year's wheat crop in the EU is likely to decline as drought and extreme heat have reduced yields in some agricultural regions. Better crop yields in unaffected areas may not make a difference, Reuters reported.
Many are keeping a close eye on crop maturation in the EU as exports of Ukrainian agricultural products are interrupted due to a Russian special operation. Thus, the European bloc has become the most important short-term source of supply for importers.
The harvest campaign is in full swing. The soft wheat crop in the EU is expected to be 125.7 million tonnes in 2022, down 3.4% from last year. This is the average forecast of 13 analysts.