FranceAgriMer analysts lowered the forecast of soft wheat exports from France outside the EU in 2022/23 MY by 0.1 mln tonnes compared to the previous figure of 10.3 mln tonnes (still higher than the previous season’s result of 8.8 mln tonnes).
The downward adjustments were made in view of increased competition on the global market from Russian grain and lower-than-expected demand from China.
Accordingly, the forecast of ending stocks was increased by the same amount – to 2.7 mln tonnes (almost equal to the result of 2021/22 MY – 2.8 mln tonnes).
Also, the forecast of barley exports from France outside the EU in the current MY was raised by 0.2 mln tonnes per month to 3.4 mln tonnes (in line with the
of the 2021/22 season) due to the recent increase in sales of grain to China.
The forecast of French corn exports outside the EU in the current season was also raised by 35 thsd tonnes to 375 thsd tonnes (590 thsd tonnes in the previous season).