EU corn output raised, firm says
Strategie Grains Thursday lowered its estimate of the European Union's 2013-14 soft wheat harvest by 0.3 million metric tons to 135.2 million tons, mainly due to lower acreage in Belgium, France, Spain and Austria.
"Black Sea wheat (from Russia and Ukraine) gained in competitiveness since last month, but not enough for us to increase our estimate of soft wheat imports from the EU. Black Sea wheat is now at price parity with French and U.K. wheat in southern EU countries," said the grains body.
Strategie Grains increased its estimate of the 28-member EU's 2013-14 corn production by 0.9 million tons to 64.9 million tons, after increasing its harvest estimates for Hungary, Poland and Bulgaria.
"Imports from third countries climb by 0.3 [million tons] over last month, to 9.6 [million tons]. That is the result of a drop in the competitiveness of French corn in relation to the other EU countries, of Ukrainian corn maintaining healthy competitiveness in the EU and of an increased demand for corn in animal feeds," said the forecaster.
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(END) Dow Jones Newswires
October 10, 2013 06:00 ET (10:00 GMT)