March 12, 2009

France 2008-09 wheat stocks on lower feed use

French wheat ending stocks have risen on the month due to increased use corn in animal feed, according to figures published Wednesday (Mar 11) by L' Office National Interprofessionnel des Grandes Cultures.


Soft wheat stocks in 2008-09 were estimated at 4 million tonnes, compared with 3.56 million tonnes in February, due to downward revisions to feed usage.


This is up sharply from 2007-08 stocks of 2.688 million tonnes.


Barley 2008-09 stocks were also revised upward to 2.64 million tonnes from February's estimate of 2.47 million tonnes.


Meanwhile corn 2008-09 stocks were revised down to 2.88 million tonnes, from 3.07 million tonnes in February.


ONIGC maintained its production forecasts 2008-09 soft wheat at 37.2 million tonnes, compared with 30.78 million tonnes in 2007-08 and corn at 15.7 million tonnes, compared with 14.36 million tonnes the previous year.