The EU soft-wheat harvest will rise an estimated 2 percent in 2012, to 131.4 million metric tons from 2011's 128.8 million metric tons, according to the European Commission.

Stocks of the wheat may climb to 13.8 million metric tons by the end of June 2013 from 10.1 million metric tons, with feed use falling by 2 million metric tons to 53 million metric tons. Output of durum wheat could rise to 8.4 million metric tons from 8.1 million metric tons, according to the commission.

The EU's barley harvest is also forecast to climb, to 54.7 million metric tons from 2011's 51.3 million metric tons. Corn production may drop, to 62.2 million metric tons from 66.8 million metric tons, with ending stocks settling at 9.3 million metric tons from 13.2 million metric tons.