European Union soft wheat exports are expected to fall this season, despite an increased harvest. A threat is posed by exports from Russia after a huge harvest.
An industry analyst cut by 1.3m tonnes to 23.1m tonnes its forecast for soft wheat exports from the EU in 2017-18.
The downgrade took the estimates below last season’s figure, which it pegged at 24m tonnes. That is below the official estimate from the European Commission (which sees exports rising by some 1m tonnes this season).