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Markets: European Corn Area Rebounds in 2019, While Seed Stocks Go Down
Markets: European Corn Area Rebounds in 2019, While Seed Stocks Go Down
An update of our monitoring centre indicates that the EU maize seed sales from the 2019 plantings are up 2,7 percent. This points to an overall increase in the EU-28 maize area.
Grain maize production is estimated up, with more competitive prices just before the plantings; also, damages on winter plantings (rapeseed in particular) have been signalled in France, Germany, and Romania. Production increases are equally expected in the feed maize industry (in France, Germany, and the Benelux), as livestock growers are seeking to rebuild their feed stocks in the wake of an insufficient 2018 harvest.
Outside the EU, maize continues to grow, with area planted up 3 percent in Ukraine, Russia, Serbia, Moldova, and Belarus. On the other hand, the EU’s seed exports to these third countries are down 4,8 percent, as indicated by our Monitoring Centre’s data on traded seed bags. Local supply is thus clearly up on these markets. Otherwise, customs difficulties in exports to Russia are reportedly growing. Lastly, downgradings are down 6,3 percent, but remain however high at over 2 million bags.
Within the context of product withdrawals and potential recalls, this figure may change further in future updates. Finally, at a 2018 yield of 212 bags per hectare, the carry-over stock should stand at 17,6 million bags (down 3 percent) at the end of June 2019, accounting for 58 percent of use.