Grain consolidation likely despite signs of wheat output stabilising

The European Union’s wheat harvest will probably fall from last year’s record as yields return to more normal levels in the bloc’s biggest producing countries.

Total output of wheat, including durum, will drop 3.4% to 154.9 million metric tons this year, according to the average estimate of the views which were expressed by 11 leading industry analysts who were surveyed by Bloomberg.

Respondents to the survey expect smaller crops in France, Germany, and the UK, after favourable weather last year boosted plant yields.