BROWNFIELD
07/12/2007
The European Union's organization of grain traders, the Cereals Commerce Committee (Coceral) has adjusted its' estimates of 2007/08 E.U. grain production.
The total crop is seen at 252.9 million tons, compared to 251.4 million in September and the 2006/07 final of 258.7 million tons. The year to year drop is attributed primarily to weather, with widespread drier than normal conditions bordering on drought in sections of Eastern Europe and wetter than normal weather across large swaths of Western Europe.
The European soft wheat crop is pegged at 111.4 million tons, down 200,000 from the September figure and 5 million below 2006/07. Durum production came out at 7.4 million tons, compared to 8 million for both the previous estimate and the year ago total.
European corn production is seen at 45.6 million tons, up from the September guess of 44.8 million, but down from last year's total of 50.6 million. Barley is placed at 57.3 million tons, 300,000 above the prior estimate and 800,000 more than the 2006/07 final.
For oilseeds, total production is pegged at 23.362 million tons, compared to 22.744 million in the September report and the 2006/07 total of 23.651 million. The bulk of that is rapeseed, with production estimated at 17.756 million tons. Month to month, that's up 409,000 tons and year to year, it's an increase of 1.795 million tons. Soybeans are placed at 995,000 tons, compared to the September guess of 984,000 and last year's total of 1.308 million tons.
