As specified, the upward adjustment was made due to the increase in the estimate of the average productivity of grain – 1 kg/ha to 59 kg/ha, which is slightly compensated for the reduction in acreage under crop.

Note that analysts IGC, in its latest monthly report also raised the forecast of gross yield of soft wheat in the EU-28 – 200 thousand tons, to 139,5 million tons due to improved production prospects for France and Bulgaria, which offset the decrease in the UK and Germany.

The forecast for soft wheat exports from the EU to 2017/18 MG remained unchanged at 26 million tons, while as of August 22 EU countries from the beginning of the season exported of 2.03 million tonnes of wheat, which is 55% lower than the same period of the previous season. The decrease is due to the fact that currently, the black sea grain on the background of high yields in the CIS countries more attractive for importers than the European, due to the trend appreciation of the Euro observed in the last few weeks.

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