Forecasts for French soft wheat stocks at the end of 2014/15 were cut again this week.
While FranceAgriMer still expects stocks to increase from last season, the size of the increase has shrunk over recent months due to stronger exports.
Total exports are now forecast at 17.8Mt, up 1Mt from January (vs 19.2Mt last season). FranceAgriMer has now raised its forecast of total season exports for the fourth month running due to stronger exports to non-EU destinations.
Exports to non-EU countries in 2014/15 are now forecast at 9.8Mt, compared with 8.8Mt in January and the initial forecast of 8.0Mt made in September. Forecasts of total exports to EU countries have remained fairly stable at close to 8Mt.
(Source – http://www.blackseagrain.net/novosti/exports-shrink-potential-french-wheat-stock-build-up)