BRUSSELS, BELGIUM — The European Commission (EC) on Aug. 25 cut its forecast for the European Union’s 2022-23 corn crop by 10% as a severe drought continues to grip the region.

The Commission projects this year’s crop at 59.3 million tonnes, which, if realized, would be the smallest harvest in seven years. That is down from its forecast of 65.8 million tonnes in July.

The Commission’s report said the revised production total was mainly due to lower yield projections in France, Hungary, Romania and Bulgaria.

As a result of the lower harvest projection, the EC raised its forecast for EU corn imports from 16.5 million tonnes to 20 million and lowered its export projection to 4 million tonnes from 5 million.

Conversely, the EC raised its forecast for soft wheat production to 126 million tonnes in 2022-23, up from 123.9 million in July.