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German Grain Harvest Better Than Predicted

06 September 2012

GERMANY - The German grain harvest has been much better than initially predicted. Given the current tight grain market, this is good news for many areas of the world.

The tight global supply situation for corn remains after the drought caused smaller crops in the US. In wheat, the market supply is better, but the global production is different from the usage in the current fiscal year. The quoted prices on the world market have increased for wheat and maize significantly since the beginning of June.

The Federal Ministry of Agriculture is monitoring the situation on the domestic and international markets. "We are following the developments very closely and are in close contact with our partner countries and international organisations," said Federal Agriculture Minister Ilse Aigner on a series of political talks in Brazil and Argentina, whose agricultural exports make a significant contribution to world food security.

Aigner stressed in their political discussions, given the tense situation on the international markets, it was important "that the world's most important agricultural export countries coordinate their actions and remain as close as possible."

The following are key facts and figures on crop balance in Germany:

Cereals

The German cereal production is expected to reach a total of approximately 44.7 million tons. The result of 2011 will be exceeded by 6.7 per cent.

The harvested area of winter crops, which have a higher yield potential than spring wheat, fell lower than it has in previous years. A total of about 6.52 million hectares of crops were grown for grain.

Comparatively good conditions prevailed at harvest time. The harvest of mature grains was however later in warm and dry weather in August without complications.

Pricing

For pricing, the developments in the international markets is of considerable importance. Among others, the drought-related poor maize harvest in the United States also has an impact on the prices of other cereals.

Currently, prices for most cereals in Germany increased by five to 25 per cent over the prior year level, with the exception only rye and barley, where the local supply is relatively abundant.

TheCropSite News Desk



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