PARIS: Farm office FranceAgriMer on Thursday lowered its forecast for French soft wheat exports outside the European Union this season for a third month in a row.
French soft wheat exports to non-EU destinations in the 2021/22 season that ends on June 30 are now expected at 9.1 million tonnes, down from 9.25 million projected in May, supply and demand data posted by FranceAgriMer showed.
The office has said previously that high prices fuelled by Russia’s invasion of fellow grain exporter Ukraine have curbed international demand in the latter part of the season.
FranceAgriMer kept unchanged its forecast of French soft wheat exports within the 27-country EU at 8.0 million tonnes. It also held steady its projection for French soft wheat stocks at the end of the season at 3.2 million tonnes, with the reduced outlook for non-EU exports offset by a downward revision to harvest supply.
Forecast maize (corn) stocks in 2021/22 were increased, to 2.6 million tonnes from 2.2 million, as the office again raised its estimated harvest supply and lowered projected demand for livestock feed.
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