German Crop Estimates Cut All Round

The German farm cooperatives association (DRV) has cut it's crop production estimates all round, saying that "continuing heat has caused over-proportional damage especially to wheat and maize plantings and late sowings of summer grains." Things could get worse yet, they said, warning of further cuts ahead after the mercury hit 40C over the weekend.

This season's wheat harvest will come in at 23.8 MMT, 5.5% lower than last year's production. The winter barley crop was cut to 8.45 MMT, 15.5% down on last year. Spring barley is now estimated at 1.69 MMT, 23.2% down on last year. Corn output is now pegged at 4.0 MMT, and 11% fall on year ago levels, whilst OSR production is now seen falling 10.5% to 5.62 MMT.