October 9, 2019 / 9:21 AM / 2 months ago

FranceAgriMer raises non-EU wheat export forecast to 11.7 mln T

PARIS, Oct 9 (Reuters) - Farm office FranceAgriMer on Wednesday increased its forecast of French soft wheat exports outside the European Union this season to 11.7 million tonnes from its initial projection of 11.0 million last month.

The revised 2019/20 forecast was up nearly 14% compared with last season’s level.

Forecast soft wheat stocks at the end of this season were cut to 2.9 million tonnes from 3.3 million seen last month but would be 32% above 2018/19, FranceAgriMer said in a supply-and-demand outlook.

France is estimated to have harvested its second-largest soft wheat crop on record, with the farm ministry on Tuesday putting production at 39.7 million tonnes, nearly 17% above last year’s level.

FranceAgriMer also reduced its 2019/20 barley ending stocks outlook to 2.1 million tonnes from 2.2 million last month, as it raised expected exports outside the EU to 3.6 million tonnes from 3.4 million. (Reporting by Gus Trompiz Editing by Sybille de La Hamaide)

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