Content ID

334666

UPDATE 1-FranceAgriMer raises non-EU wheat export forecast, now up 15% on year

(Adds details)

PARIS, Oct 12 (Reuters) - Farm office FranceAgriMer on Wednesday slightly increased its forecast for French soft wheat exports outside the European Union in the 2022/23 season to 10.10 million tonnes from 10.00 million seen last month, putting the rise on last season at 15%.

France, the EU's biggest wheat producer, recorded a small drop in output this year after a severe drought hurt plant development but benefited from hefty demand over the summer as war in Ukraine disrupted Black Sea exports.

In contrast, the office cut its forecast French soft wheat exports within the 27-member bloc this season to 7.07 million tonnes from 7.13 million previously, now 12% below 2021/22.

It reduced its projection for French soft wheat stocks by the end of the season next June to 2.13 million tonnes from 2.36 million projected last month, mainly due to a decrease in its estimate of the delivered crop.

In first 2022/23 forecasts for maize, FranceAgriMer estimated French ending stocks at 2.01 million tonnes, compared with 2.23 million tonnes at the end of the previous season.

The fall was linked to a sharp drop in supplies, with harvest supply expected to fall by 30% this season, which would not be compensated by a 39% fall in exports, both within and outside the EU.

The French maize harvest this year is expected to be the smallest in three decades, as exceptionally hot and dry summer weather damaged crops.

For barley, projected 2022/23 ending stocks were increased again and are now seen at 1.77 million tonnes from 1.66 million last month, mainly due to an increased estimate of harvest supply and a further cut to forecast shipments outside the EU. (Reporting by Sybille de La Hamaide, editing by Gus Trompiz and Jane Merriman)

© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about
Loading...

Tip of the Day

1-inch impact dolly cart

Socket caddy By welding lengths of angle iron with evenly spaced upright rods onto an old two-wheel dolly, I made a cart that holds my impact wrench... read more

Talk in Marketing

Most Recent Poll

Will you have enough on-farm storage for harvest?

I just want to see the responses
46% (26 votes)
Yes
39% (22 votes)
No, it’s going to be a bin-buster
7% (4 votes)
Maybe, depending on yields
5% (3 votes)
No, I am looking at new bins or temporary storage
4% (2 votes)
Total votes: 57
Thank you for voting.