FranceAgriMer raises 2020/21 wheat stock forecast

PARIS: Farm office FranceAgriMer on Wednesday raised its monthly forecast for French soft wheat stocks at the end of the current 2020/21 season to 2.7 million tonnes from 2.6 million projected last month.

The rise mainly reflected a 260,000 tonne increase in the estimated total volume of wheat available this season, and a 50,000 tonne cut in projected wheat use by animal feed makers, FranceAgriMer data showed.

That was partly balanced by higher expected exports to other members of the European Union, now seen at 5.9 million tonnes, up from 5.7 million last month.

The office kept unchanged its forecast for French soft wheat exports outside the 27-member bloc in the current season, which ends on June 30, at 7.55 million tonnes.

For barley, FranceAgriMer raised its monthly forecast of 2020/21 ending stocks to 1.1 million tonnes from 1.0 million estimated last month. Maize stocks were now expected at 1.8 million tonnes, down from 1.9 million tonnes projected in May.