Paris based analyst Strategie Grains this week released its April report, in which it downgraded 2013/14 wheat production in the EU once more, on the back of ongoing challenges to growers in the UK. The EU forecast was downgraded by 500,000 tonnes and now stands at 131 million tonnes.

The latest dent to EU prospects represents a contraction of 4.2 million tonnes in estimates since December. The ongoing slide is due mainly to challenges facing the EU's number three grower, Britain, where production estimates were slashed by 330,000 tonnes.

The current UK forecast of 11.78m would be the poorest UK crop in over a decade. Strategie said that if the effects of challenging weather continue to hamper production in the UK crop, it could fall further still.

Following a disastrous growing season in 2012, UK wheat exports slipped to their lowest position on record in February, according to figures from AHDB. Exports shrank to 17,800 tonnes as a result of the poor harvest last year, while imports continued to grow.

Reduced acreage in Spain and Denmark also played their part in the Strategie downgrade.

However, the latest meteorological data suggests that conditions will improve over coming weeks throughout much of Europe, providing benefits for both winter crops and ongoing sowing of spring crops.