Smaller crops in EU and Kazakhstan
Although the IGC has revised global production estimates downwards by 300,000 mt to 56.1 million mt, they still range 2.6% higher than last year. The situation in the EU is the main reason for the reduction as production will only range at 10.3 million mt. Yet, the figures of 10.45 million mt and 10.367 million mt presented by the European Commission and Coceral respectively are less conservative. In Russia production will be similar in size to last year and prospects are encouraging in Ukraine. Farmers in Ukraine have harvested 9.