November 11, 2004

ONIC Raises French 2004-05 Soft Wheat Output to 37.471 Million MT

The French state grains board, ONIC, raised its estimate of domestic soft wheat production for 2004-05 to 37.471 million metric tons on Wednesday. This figure is up from its October estimate of 37.440 million tons.
 
The increase is the second monthly rise in the estimate, and confirms the crop as the second largest on record in France.
 
ONIC estimated French soft wheat exports to other European countries in 2004-05 will be 7.740 million tons, increasing from a previous estimate of 7.560 million tons.
 
Its estimate of eight million tons of soft wheat exports to non-E.U. countries was unchanged.
 
With its projection of exports rising, ONIC lowered its forecast of French soft wheat ending stocks for 2004-05, to 4.157 million tons, from an October estimate of 4.231 million tons.
 
For other main French 2004-05 grain crops, ONIC increased its estimate of corn output to 15.489 million tons, from 15.001 million tons. Its estimate of barley output from 11.177 million tons to 11.198 million tons was also raised.