FranceAgriMer lowers forecast for wheat exports outside the EU

The French agricultural consultancy FranceAgriMer has reduced its forecast of French wheat exports in 2020/21 to destinations outside the EU from 7.75 million tons (July forecast) to 6.6 million tons. This means that exports would be 51% lower than in the 2019/20 season (13.46 million tons). In July the forecast was 13.6 million tons.
Like other analysts, FranceAgriMer anticipates a sharp decline in exports for 2020/21 after the wheat harvest in France fell by around a quarter this year due to weather conditions.
The expected common wheat exports to other EU countries and to Great Britain in 2020/21 were reduced from the original 7 million tons in July to 6.4 million tons.
Common wheat stocks at the end of this season have now been estimated at 2.9 million tons, compared to the original estimate of 2.6 million tons in July. In the 2019/20 marketing year it was 3.0 million tons.
FranceAgriMer also reduced its export prospects for barley. For 2020/21 deliveries outside the EU were estimated from 3.15 million tonnes in July to 3.0 million tonnes, while exports within the EU were reduced from 3.2 million tonnes to 2.8 million tonnes.
The forecast final stocks of barley were reduced from 2.1 million tons in July to 1.4 million tons.
In a first 2020/21 supply and demand outlook for corn, the harvest of which is beginning, FranceAgriMer forecast that stocks could rise from 2.0 million tons in the 2019/20 marketing year to 3.1 million tons, mainly due to the higher Production is due.

Hansa Terminhandel GmbH
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