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EUROPE: Cereal production in Europe has been considerably reduced this year by adverse weather. Aggregate cereal output in the EU has fallen by about 12 percent from last year; among the CEECs, sharply reduced cereal outputs are expected from virtually all countries. Following adverse weather conditions in winter and spring, cereal harvests throughout the European CIS were also significantly lower. Ukraine will require significant imports to meet domestic requirements, and the Russian Federation will not be a significant player in the international grain market. |