Soft wheat yields in the EU for the 2022-23 marketing year (July-June) have been slashed for a third straight month in June, drawing supply concerns as smaller EU output could further stretch wheat markets in the absence of key supplies from the Black Sea. Soft wheat yields were cut to 5.76 mt/ha from 5.89 mt/ha, the EU Commission said June 21. The latest projection is also below the five-year average of 5.84 mt/ha for soft wheat yields.

A senior government official said on Monday Ukraine’s grain harvest was likely to drop to around 48.5 million tonnes this year from 86 million tonnes last year following Russia’s invasion. First Deputy Agriculture Minister Taras Vysotskyi said the total area sown had fallen by 25% and the 2022/23 exportable surplus could be 30 million tonnes, meaning significant loss of revenue. The wheat harvest would be around 17-20 million tonnes, he said.