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Argus estimates France's 2025 wheat harvest rebounded to 33.4 million tonnes, with yields 7% above the five-year average. Exports to non-EU countries are projected at 7.7 million tonnes, and ending stocks may reach 4 million tonnes, the highest in 20 years.
Large French supplies and record-high ending stocks add to global wheat availability, pressuring export prices. Weak demand from Algeria and China limits outlets for French wheat.
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Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.