France cuts another 450,000 MT from French wheat exports.

French export agency FranceAgriMer has revised its wheat export forecast down by 455,000 mt on the back of decreased demand. The report saw a further 300,000 mt cut from its expected sales to countries outside the EU, with French exporters struggling this marketing year to keep up with a stronger euro and other, more competitive origins. Despite the revision, sales to non-EU members are still forecast to come in 81.1% higher than during the 2016/17 marketing year at 9 MMT. Having added 600,000 mt to its forecast for intra-EU sales in last month’s report, FranceAgriMer has now backtracked and knocked 155,000 mt off to bring its total to 8.45 million mt. Total wheat exports are now expected at 17.56 million mt, 54.9% higher year-on-year as French exporters recover from 2016/17’s poor harvest.