FranceAgriMer raises soft wheat export forecasts, cuts stocks
PARIS: Farm office FranceAgriMer on Wednesday increased its forecast of French soft wheat exports, both within and outside the European Union, in 2024/25, but the European Union's biggest grain producer is still on course for its worst wheat export campaign this century after a rain-hit harvest.
In supply and demand data, FranceAgriMer projected French soft wheat exports outside the EU this season at 3.25 million metric tons, up from 3.20 million projected last month, now 68% below last season's level, while shipments within the EU in 2024/25 were pegged at 6.64 million tons from 6.55 million expected in May, now 5.6% above the 2023/24 volume.
Despite the upward revision, the forecasts for total soft wheat exports and for shipments outside the EU remained the lowest in the office's records going back to 1996/97.
In addition to last summer's dire harvest, French exports have been hit by stiff competition from the Black Sea region and a diplomatic rift between France and Algeria.
However, a sharp fall in prices this spring prompted late-season demand, including sales to Egypt. The increased export projections led FranceAgriMer to trim its outlook for soft wheat stocks at the end of the season on June 30. Stocks are now projected at 2.48 million tons, down from 2.62 million last month and 22% below last season's level.
For barley, FranceAgriMer again cut the expected end-of-season stocks to 1.04 million tons from 1.16 million last month, after raising its export forecasts by a total of 150,000 tons from last month.
French barley shipments have been boosted by a wave of sales to North African and Middle Eastern markets, with traders citing low availability of barley in the rival Black Sea export zone.
The office again raised its forecast of maize stocks in 2024/25, to 3.53 million tons from 3.47 million projected last month due to another rise in estimated harvest supplies.
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FranceAgriMer raises soft wheat export forecasts, cuts stocks
PARIS: Farm office FranceAgriMer on Wednesday increased its forecast of French soft wheat exports, both within and outside the European Union, in 2024/25, but the European Union's biggest grain producer is still on course for its worst wheat export campaign this century after a rain-hit harvest. In supply and demand data, FranceAgriMer projected French soft wheat exports outside the EU this season at 3.25 million metric tons, up from 3.20 million projected last month, now 68% below last season's level, while shipments within the EU in 2024/25 were pegged at 6.64 million tons from 6.55 million expected in May, now 5.6% above the 2023/24 volume. Despite the upward revision, the forecasts for total soft wheat exports and for shipments outside the EU remained the lowest in the office's records going back to 1996/97. In addition to last summer's dire harvest, French exports have been hit by stiff competition from the Black Sea region and a diplomatic rift between France and Algeria. However, a sharp fall in prices this spring prompted late-season demand, including sales to Egypt. The increased export projections led FranceAgriMer to trim its outlook for soft wheat stocks at the end of the season on June 30. Stocks are now projected at 2.48 million tons, down from 2.62 million last month and 22% below last season's level. For barley, FranceAgriMer again cut the expected end-of-season stocks to 1.04 million tons from 1.16 million last month, after raising its export forecasts by a total of 150,000 tons from last month. French barley shipments have been boosted by a wave of sales to North African and Middle Eastern markets, with traders citing low availability of barley in the rival Black Sea export zone. The office again raised its forecast of maize stocks in 2024/25, to 3.53 million tons from 3.47 million projected last month due to another rise in estimated harvest supplies.
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'Trump dished the French President.' 'Dished? Like what? As in barbecue, curry?' 'Or pizza – Nawaz Sharif does like pizza doesn't he?' 'I am not sure it's the pizza that he likes, I reckon he likes the location - Harrods in London.' 'Location should be more important to Trump – he is a real estate tycoon though recently he has been involved in all sorts of business – cryptocurrency has reaped billions for his family, billions mind you not millions like…like…' 'Foreign direct investment inflows?' 'Shut up.' 'Hear me out – the billions Trump family has raked in due to his easing oversight of the cryptocurrency industry yet there are serious ethical and legal questions…' 'I would advise you to shut up and don't try to put up because there is nothing that you can put up.' 'Well my argument…' 'Shut the hell up. Moving forward the Trump family is also selling some items like gold mobile phones which incidentally are a steal at less than 500 dollars…' 'Why can't our prime and chief ministers engage in business ventures, you know invest their own money in the private sector, provide jobs to people and…and wait…generate growth…' 'Two things first of all take away chief ministers from this plan because other than the Punjab chief minister who belongs to the ruling family the others are second to third tier leaders.' 'OK but…' 'Wait and second the trend in this country is not to invest in Pakistan but outside – and that too mostly in real estate.' 'But…' 'And look at the glass as fully full, because the FDI that is coming into the country is not facing any ethical and legal issues…' 'That is because thankfully all are on the same page and that's the way the cookie must crumble. Poor Trump is facing pressure from everyone – the Israelis, the Arabs who have pledged billions of dollars of investment in the US, his own MAGA base and last but not least his own cabinet…' 'I propose Trump changes the constitution to get a third term, and we have lawyers with the experience and…' 'Oh shut up.' Copyright Business Recorder, 2025
