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Production
The last EU forecasts for the commercialization campaign 2016/17 suggest that there will be a good cereal harvest, with an estimated total production of 307.6 million tonnes, although these are very preliminary data that belong to a sown area of 57.8 millions hectares, highlighting the foreseen rise in the durum wheat (6%) and rye (7%) sown area, as published by the Ministry of Agriculture of Spain.
Prices
The downward trend in prices experienced at a global level in the the current season in the cereal sector has been established, being this caused by the high supplies level, that are the highest in the last 29 years, and by a growth of the crops without problems, and this points towards the next harvest being plentiful. In the same way, the downward trend of the international prices for soya seed (the oilseed that marks the world market) has been underlined, although it has experienced rises in the last weeks.
Friday, 1 April 2016/ MAGRAMA/ España.
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