European Union: Grain and Feed Annual

In MY 2023/24, EU’s grain production is anticipated to reach 285 MMT, up from the 267 MMT registered the previous season, when a severe drought pushed yields down. Favorable initial crop development conditions are reported across the EU, although spring rains in the EU’s southwest will be critical to replenish soil moisture and allow for yields to bounce back to average levels. Russia’s invasion of Ukraine, combined with soaring food prices, continue to stress the EU grains balance, which has resulted in a stagnation of grain demand. The larger anticipated production is projected to reduce import needs and allow for larger grain exports in MY 2023/24.