Farm office FranceAgriMer on this morning lowered its forecast of French soft wheat stocks by the end of the 2021/22 season, but kept its forecast of exports outside the European Union unchanged.
Indeed, soft wheat stocks at the end of next June, are expected at 2.4 million tonnes, down from 2.9 million projected last month.
However, French soft wheat exports outside the European Union in the 2021/22 season are still expected at 9.6 million tonnes, up nearly 30% on last season even if are running behind 2019/2020 and 2018/2019.
It’s expects, infact, a pick up in the second half, notably to Egypt, especially if Russia were to curb exports.
Agreste has also reduced its national durum wheat harvest estimate by 60 kt this month, to 1.55 Mt (1.7 Mt on average five years).
FranceAgriMer cuts its forecast for French barley ending stocks to 1.31 million tonnes from 1.36 million.
Projected corn stocks at the end of last season were kept unchanged at 1.80 million tonnes, meantime.