FranceAgriMer, the farm office, has made adjustments to its forecasts for French soft wheat and barley in the 2023/24 season. The projection for French soft wheat exports outside the European Union has been revised down to 10.00 million metric tons from the previous estimate of 10.15 million, while the forecast for soft wheat shipments within the EU has been raised to 6.28 million tons from 6.19 million.
Additionally, the expected soft wheat stocks at the end of the 2023/24 season have been adjusted to 3.75 million tons, up from the previous forecast of 3.74 million. This modification reflects a decrease in projected demand from the starch sector, offset by an increase in usage for animal feed on the local market.
In the case of barley, FranceAgriMer has once again reduced its forecast for 2023/24 ending stocks, now anticipated at 1.66 million tons, down from the previous estimate of 1.75 million. This adjustment is accompanied by an increase in projected non-EU exports, aligning with a trend observed in March.
Furthermore, the forecast for maize stocks at the end of the 2023/24 season has been revised lower to 2.34 million tons from a revised 2.43 million, primarily due to an increase in projected exports within and outside the EU.