The experts from FranceAgriMer have in their report the export forecast for soft Wheat from France in the current season due to the high level of competition Grains on the Black Sea lowered, but the export forecast for Barley increased, reports Reuters.
Notably, analysts lowered the forecast for French wheat exports to foreign markets (outside the EU) to 10,45 million tons, compared to 10,6 million tons according to January estimates. The updated number for 2021/22 is 19 percent higher than the result.
In addition, FranceAgriMer has lowered its forecast for intra-EU wheat exports to 6,59 million tons, compared to 6,64 million tons according to the preliminary forecast.
In view of the adjustments, analysts have raised the forecast for grain stocks in France in the current season to 2,46 (2,33) million tons, which is 11% below the result of 2021/22.
At the same time, the forecast for barley exports from France was increased by 350.000 tons to 2,8 million tons on the back of strong demand from China. As it is noted, quite significant broadcasts from Grains in this direction fixed in January and are planned for February. According to the expectations of some market operators, the export of barley from France could reach 3 million tons in the current season.
The forecast for grain stocks in the country was lowered to 1,56 million tons, down from 1,97 million tons in January.
Estimate of French post-season corn stocks was also lowered to 2,23 (2,3) million tonnes.
Source: APKinform (Ukraine)