French wheat stockpiles will be much smaller than previously forecast, as exports accelerate and farmers hold back grain in hopes of higher prices.
French wheat exporters are benefiting from increasing demand from Morocco, where severe drought slashed the harvest by 70 percent. French prices are also competitive against other major exporters including the U.S. and Russia.
French soft wheat exports in the 2015-16 season may total 19.37 million tons, about 4 percent more than estimated in April.