WORLD COARSE GRAINS SITUATION AND OUTLOOK
For 1998/99 forecast trade for coarse grains is virtually unchanged from last months estimate at 87.5 million tons. Global consumption of coarse grains for 1998/99 is projected at 875.2 million tons, down 3.8 million tons from last months estimate. Stock estimates for 1998/99 are up at 141.7 million tons or 5.3 million tons higher than 1997/98.
Estimated trade in corn is unchanged this month at 61.8 million tons for 1998/99. Forecast barley trade for 1998/99 is 15.1 million tons, down only 100,000 tons this month. Sorghum trade in 1998/99 is unchanged at 6.6 million tons. Trade in Oats and Rye is unchanged this month at 2.1 million tons and 1.9 million tons, respectively.
Estimated barley exports from Turkey were revised upwards from 800,000 tons to 1.15 million tons for 1997/98, a record to that date. Projected barley exports from Turkey in 1998/99 are unchanged this month, but are still forecast to top the 1997/98 record at 1.4 million tons.
Forecast U.S. barley exports were reduced for 1998/99 to 800,000 tons, down 100,000 tons from last month.
Projected Mexican barley 1998/99 imports were lowered this month to reflect a slower import pace than expected previously.
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