PARIS, FRANCE — Strategie Grains in a report released on Jan. 16 increased its forecast of European Union soft wheat exports this season, due mainly to strong overseas demand and reduced availability in other soft wheat producing regions.
The French-based consultancy forecasts E.U. soft wheat exports, excluding durum, to reach 30.5 million tonnes in 2019-20 through June 30, up from its previous projection of 28.7 million in December.
“The E.U. continues to benefit from strong global demand,” Strategie Grains said in its monthly grain report. “The E.U. is really acting as the world’s breadbasket this season.”
Strategie Grains said lower exports from the United States and Australia, and a leveling off of shipments from Russia, have led to greater demand for E.U. soft wheat.