DRV expects drought-related crop losses for wheat and rapeseed in Germany

The latest forecasts of the German Farmer's Cooperative (DRV) confirm the negative impact that the ongoing dry conditions in most parts of Germany are having on the wheat and rapeseed crops. 

The wheat crop could decrease by as much as 7.2% y/y and would thus amount to only 25.77 million tons - in May, the DRV had still been assuming a figure of 26.91 million tons. Winter rapeseed could suffer even more from the drought, the crop plunging by almost 20% to 4.99 million tons. In May, the DRV had anticipated a figure of 5.23 million tons here.

"The entire 2015/16 grain crop thus looks set to fall 8.2% short of last year's record crop and total only 47.73 million tons.", says Commerzbank.