Bloomberg News

France’s Corn Harvest Forecast Raised, Allowing for More Exports

October 12, 2011

Oct. 12 (Bloomberg) -- France’s corn harvest, Europe’s biggest, will be higher than previously expected after summer rain boosted production, allowing for increased exports, crops office FranceAgriMer forecast.

Farmers will harvest 14.75 million metric tons of corn, against 13.8 million tons in 2010 and up from last month’s forecast of 14 million tons, the office said in a report handed out at a meeting today in Montreuil-sous-Bois, outside Paris.

Corn futures in Paris have dropped 19 percent this year, boosting demand for shipments from the European Union. Weekly corn-export commitments for the 27-nation bloc were 202,515 tons in the seven days through Oct. 4, the highest level for one week in at least seven years, the EU reported last week.

Corn exports will climb to 6.49 million tons from 5.6 million tons in the 2010-11 season, FranceAgriMer forecasts. That’s up from a previous outlook for shipments of 6.29 million tons of the grain.

France’s soft-wheat harvest will amount to 33.8 million tons, more than the 33.4 million tons forecast last month and down from 35.7 million tons in 2010, the office said.

The smaller harvest and rising domestic use mean French soft-wheat exports in the year through June 2012 are forecast to drop to 15 million tons from 19.7 million tons in 2010-11, the crops office said.

French soft-wheat exports outside the EU are expected to slide to 8.5 million tons from 12.9 million tons in 2010-11.

France’s barley crop is estimated at 8.85 million tons from 10.2 million tons, the crops office forecast.

--Editors: Claudia Carpenter, Nicholas Larkin

To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net.

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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