FranceAgriMer cuts 2023/24 wheat export outlook

Farm office FranceAgriMer on Wednesday lowered its forecast of French soft wheat exports outside the European Union in 2023/24 to 9.50 million metric tons from an initial projection of 9.60 million in July, now 6.4% below last season’s level.

In a supply and demand outlook, the office also cut its forecast for French soft wheat shipments within the EU this season, to 7.54 million tons from 7.79 million expected in July, though that was 18.1% higher than the 2022/23 volume.

French soft wheat stocks at the end of the 2023/24 season were now projected at 2.91 million tons compared with 2.69 million forecast previously and up 14.5% from last season.

In a first 2023/24 outlook for maize, harvesting of which is getting under way, FranceAgriMer forecast ending stocks at 1.65 million tons, in line with a revised estimate for 2022/23 stocks.

Tags: wheat, export, France