French corn stock at historic low

FranceAgriMer, a French agricultural statistics and market analysis organization, has lowered its estimate for France's corn stock at the end of the 2026-2027 campaign to 1.1 million metric tons, the lowest since the 1990-1991 campaign. This represents just 14 percent of total corn usage in the country.

Corn production and collection decline

The revision follows a decrease in both corn production and collection compared to earlier estimates. Production is now expected at 6.6 million metric tons, down 800,000 metric tons from September 2026, while collection is estimated at 6.2 million metric tons, down 700,000 metric tons. The collection rate is currently 93 percent, but could drop to 80 percent in cases of very low collection.

Uncertainty over final stock levels

Thibaut Champagnol, head of the Grains and Sugar unit at FranceAgriMer, warned that if the collection rate drops significantly, the final corn stock could fall below 1 million metric tons. This would be a dramatic reduction, even as corn use in animal feed and exports to the European Union may also decline.

European corn production drops sharply

At the European level, corn production is also down sharply, with Hungary reporting a 48 percent decline compared to 2025, resulting in an estimated 2 million metric tons of production. This highlights a broader trend of reduced corn output across the continent.

Corn use in animal feed at historic low

FranceAgriMer estimates that corn consumption in animal feed in France is at its lowest level and should be only 1.5 million metric tons. In contrast, the European Commission estimates EU-wide corn use at 58.6 million metric tons, a figure that appears high compared to the U.S. Department of Agriculture’s estimate of 51.2 million metric tons.

Soft wheat and barley stocks remain stable

While corn stocks are very low in France, stocks of soft wheat and barley are more stable. Wheat stock is estimated at 2.7 million metric tons, equivalent to about a month of consumption, while barley stock is considered comfortable at 1.5 million metric tons, enough for two months of use.