The European Agency Strategie Grains has again lowered the forecast of ending stocks of European soft wheat for the 2015/16 season, as well as for the 2016/17 season. According to AGN. Reuters. The reason for revision of forecast became active in exports against the background of strengthening the price competitiveness of European grain.

According to experts Strategie Grains, at the end of the current season in the EU will remain 14.7 million tonnes of soft wheat, which is 900 thousand tons less than forecast a month ago. We will remind that in April the Agency reduced the forecast of wheat stocks by 1 million tons. The export forecast for the season increased to 30.4 million tonnes.

In addition, 300 thousand tons to 55.8 million tons increased the forecast of wheat consumption by the livestock sector, as wheat became more attractive price in comparison with corn and oilseed meal. The forecast of ending stocks of soft wheat for the season 2016/17 reduced by 1.3 million tons to 11.9 million tons.

The export is expected to reach 30.7 million tonnes, 150 thousand tonnes more than predicted in April. Strategie Grains raised its forecast for corn ending stocks for the current season due to the growth of imports, reducing domestic feed and industrial consumption as well as reducing exports.

According to experts, the corn reserves of the 2015/16 season will grow compared with last month's forecast at 1.5 million tons to 8.5 million tons. While France and Hungary have 4.2 million tons. Experts predict increased competition for wheat and corn in the EU.