Exportable Wheat Supplies in Northern Hemisphere Pressure U.S. Prices
With prospects for a third consecutive year of increases in Northern Hemisphere exporter availabilities, and no appreciable change in global wheat trade, prices in both the cash and futures markets in the U.S. have been falling. However, the routine nature of current import demand, and the likely absence of any strong import demand shocks over the next six months has contributed to the bearish mood in the market, exacerbating the prevailing price declines.
The current situation stands in stark contrast to 1990/91 - 1992/93, when export availabilities rose, but prices strengthened as world import demand expanded nearly 12 percent to 113 million tons, and U.S. exports grew from 28 to 37 million tons.
June 1998 Edition
Foreign Countries' Policies and Programs
Situation and Outlook: Commentary and Current Data
Historical Data Tables:
**Special production note for the June 1998 publication**
General Footnotes for Grain Tables
Grain and Feed Contact List
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