French exporters to benefit from EU wheat sales: FranceAgriMer

France's wheat export sales for the current marketing year are forecast to rise 1.9% versus last month’s estimate according to data from export agency FranceAgriMer, released Wednesday.

Wheat exports since July 1 will rise to 18.02 million mt despite the slow pace of sales seen since the start of the 2017/18 marketing year.

Sales to countries within the EU are set to be the main source of growth, with exports estimated to be 600,000 mt higher than last month, at 8.61 million mt.

Sales to countries outside the EU were adjusted down by 200,000 mt to 9.3 million mt. The figure remains 87.1% up on last year’s export estimates.

Total sales are forecast to increase 58.9% year-on-year to, while sales to other EU member states are set to be 87.1% higher.

France’s production estimate was unchanged from the previous update at 37.01 million mt, a year-on-year increase of 34.7%.

Corn sales were also revised upwards, with the forecast now 2.1% higher than the previous estimate at 5.13 million mt.