France is forecast to see its worst soft wheat harvest in more than 40 years due to excessive rain in the European Union’s top grower.

Production may drop to 25.2 million tons of wheat in the 2024-25 season, down 27% on the five year average, according to Argus. Ceaseless rains along with a lack of sunshine and low temperatures favouring diseases have impacted yields and the quality of the crops in the majority of growing regions.

Weather extremes across Europe have hit grains this season, with excessive rains in northwestern Europe, and drought and high temperatures hurting corn crops in the east. French farmers called on the government to provide financial aid last week due to the catastrophic harvest.

“We have to go back to 1983 and its 24.5 million tons to find such a low harvest in France,” said Gautier Le Molgat, director of Argus Media France. “The entire French cereal industry should suffer the consequences of this historic drop in production.”

Despite the poor outlook in France and a smaller crop in Russia, wheat traded in Chicago is still trading near the lowest in four years as US crops keep the market well-supplied. Wheat traded in Paris hit the highest in over a year in May, as frost and rain reduced supplies, but prices have been steadily falling since then.

  - Bloomberg