A twelve-year high in the export of French wheat to other EU countries saves the export balance of Europe's largest wheat producer. The final stocks are likely to be at a normal level this season.
In its monthly report on supply and demand on the cereals market, FranceAgriMer raises its estimate for wheat exports to other EU countries to 9.1m tonnes for 2017/18. Last month, exports were still 8.9 million tonnes.
The last time that France crossed the nine million mark within the Community was in 2005/06. In the previous year, these exports amounted to five million tonnes.
Exports to third countries increase according to FranceAgriMer to 8.4 million tonnes (previous month's estimate: 8.3). That is less than France's intra-EU trade.
France is facing tough competition from other large exporters, such as Russia, where a record harvest was made last year. The great drought in Spain, however, resulted in a smaller grain harvest there. This has saved France's export balance.
The rail strikes in France since April had so far only a limited influence. In April, France exported 1.1 millionTons the largest amount of wheat of the season. However, logistics costs have increased due to the SNCF staff strike.
The end of the wheat season 2017/18 is now estimated at 2.5 million tons; In April, it was still estimated at 2.7 million tonnes.
However, for barley FranceAgriMer reduced its export prospects to third countries to 3.1 million tonnes from 3.4 million tonnes previously. Here, too, EU countries received slightly more: 3.4 million tonnes The previous month's estimate was 3.3 million tonnes. The final stocks for barley should then be 1.1 million tonnes (previous month: 1 million tonnes).
In the case of maize, FranceAgriMer is lowering its 2017/18 end-of-season estimate to 2.7 million tonnes (previous month: 2.8 million tonnes). Again, larger deliveries to other EU countries contributed to the better result. In EU countries, a total of 5 million tonnes of corn will be exported this season.
Text: HANSA Derivatives Trading GmbH /
