Following its Specialized Grain Markets Council meeting on 13 October 2026, FranceAgriMer revised its grain balance sheets for the 2026-2027 marketing year and revised the stocks at the end of the marketing year for corn en France at 1,1 Mt, compared with an estimated 1,5 Mt in September 2026. This level is the lowest since the 1990-1991 marketing year and represents only 14% of total use.
A downward revision of the maize production estimate by 0,8 Mt month on month
The downward revision to the maize carryover stock for the 2026-2027 marketing year is driven by a production and a collection of respectively 6,6 Mt and 6,2 Mt, down by 800 000 t and 700 000 t compared with the September 2026 estimates. The collection rate is maintained by FranceAgriMer at 93 % but could be revised downward to as low as 80 %, a level observed in the case of very low collection.
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If that were the case, “stocks could fall below 1 Mt”, warns Thibaut Champagnol, head of FranceAgriMer’s Grains and Sugar Unit, given that consumption en animal feed as well as the exports, particularly to the European Union, could be reduced further.
Read also | Corn: the 2026 harvest confirms the European Union’s growing dependence on imports
Across Europe, while corn production is falling sharply in France, production in Hungary is down 48% compared with 2025, at 2 Mt.
Decline in corn incorporation into animal feed
Given the prices, maize consumption for animal feed is at its lowest and is expected to be only 1,5 Mt in France, according to FranceAgriMer. It is still estimated at EU level by the European Commission at 58,6 Mt.
But this figure appears high in light of the estimate from theUSDA, which estimates European consumption at only 51,2 Mt, and should be revised quickly…
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Comfortable stocks of soft wheat and barley
Corn stocks are very precarious in France, unlike those in cereal grains. The stock of wheat, now estimated at 2,7 Mt (compared with 3 Mt estimated in September), is equivalent to about one month of consumption while the end-of-season stock of barley stands at 1,5 Mt, representing two months of consumption.
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