FranceAgrimer Confirms Soft Wheat Export Forecasts

The French government has confirmed its estimate for soft wheat production in 2009-10 at 36.5 million metric tons, data from the Agriculture Ministry's statistics arm show Wednesday.

Exports within the European Union have been slightly revised upwards to 6.92 million metric tons, representing an increase of 70,000 metric tons compared with May's forecast.

Based on current forecasts, the 2009-2010 crop is expected to reach at least the record level achieved last year, helped by the weakening of the euro against the dollar.

Corn export forecasts have been revised upwards thanks to the euro-dollar exchange rate, with 6.83 million metric tons exported within the European Union, representing an increase of 200,000 tons from forecasts a month ago, and 370,000 outside the European Union.

Source: CME Group