FranceAgriMer kept its monthly estimate of French 2017/18 soft wheat exports outside the European Union unchanged at 8.4 million tonnes, confirming that France is set to sell less wheat outside the bloc than to other EU countries. End stocks were estimated at 2.56 million tonnes – up from the previous estimate of 2.53 million. However, it is below the 5 year seasonal average of 2.9 million tonnes.
Private Analytics firm Informa forecast U.S. 2018 soybean production at 4.409 billion bushels, a record high if realized, based on an average yield of 49.5 bushels per acre (bpa) and harvested area of 89.156 million acres. U.S. soybean plantings are forecast at 89.902 million acres in 2018, up from a previous estimate of 89.4 million (USDA 88.982 million acres).
For corn, Informa lowered its forecast of U.S. 2018 plantings to 88.706 million acres, from its month-ago forecast of 89.0 million (USDA 88.026 million acres). Forecast for 2018 corn production seen at 14.216 billion bushels, based on an average yield of 174.5 bpa and harvested area of 81.470 million acres.