French Wheat Export Outlook Cut as Maize Stocks Plummet

FranceAgriMer has reduced its forecast for French soft wheat exports this season due to a lower harvest estimate and increased demand for wheat in livestock feed. The office projected soft wheat exports outside the European Union at 6.3 million metric tons, down from an initial outlook of 7.0 million tons in July.

The revised forecast also includes reduced shipments within the EU, projected at 7.1 million tons against 7.4 million previously. Soft wheat stocks at the end of the season next June were projected at 3.01 million tons, down from 3.65 million projected in July.

For maize, FranceAgriMer forecast ending stocks at 1.46 million tons, a 26% drop from last season and the lowest in records dating back to 1996/97. This reflects the smallest maize crop since the 1970s, following severe heat and drought this summer.