Europe’s Wheat Reserves Shrinking to Lowest in More Than Decade

Wheat stockpiles seen plunging 37 percent this season: Tallage
Poor harvests and strong consumption is eroding inventories

Crusoe wheat stands in a field before harvesting at Bentley Hall Farm in Wickford, U.K., on Monday, Aug. 15, 2016. U.K. wheat and barley exports are set to beat government forecasts for the season that ended in June as a weaker pound and higher corn prices make the country's overseas sales of the grains more competitive.
Photographer: Jason Alden/Bloomberg

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By Manisha Jha and Agnieszka de Sousa

April 13, 2017 at 10:05 AM UTC

This article is for subscribers only.

Europe is likely to end the wheat season with the smallest stockpiles in 13 years.

Inventories of wheat held in the European Union will probably plunge 37 percent to 10.1 million metric tons at the end of June, according to Tallage SAS, publisher of the Strategie Grains report. The combination of a poor harvest, strong consumption and higher-than-expected exports is draining stockpiles, which will probably stay low next season, the researcher said.