The French agricultural consultancy FranceAgriMer has increased its forecast of French common wheat exports to destinations outside the EU this season from 13.2 million tons to 13.3 million tons. It is the eighth monthly increase in a row and confirms the acceptance of a record result for the marketing period 2019/20.
FranceAgriMer expects at the end of the 2019/20 marketing period (June 30) that the final wheat inventory will be 2.9 million tons. In April the expectation was 2.6 million tons. The reasons for the correction are mainly the lower consumption than feed and lower exports within the EU.
Expectations for French maize end crops for 2019/20 are lower. After 2.4 million tons in April, the expectation is now 2.2 million tons.
The forecast for the final barley stocks of 1.85 million tons remains unchanged (April: 1.88 million tons.
Source
Hansa Terminhandel GmbH
