WORLD COARSE GRAINS SITUATION AND OUTLOOK
World coarse grain trade for 1999/2000 is projected up slightly from 1998/99 levels at 96.1 million tons. Global production is down16.8 million tons due mainly to reductions in the Chinese and U.S. corn crops and barley shortfalls in the Middle East. With global consumption up 5 million tons, ending stocks are down 5 million tons. Chinese and U.S. corn stocks make up 60% of all coarse grain stocks.
Global corn trade is forecast up marginally to a five year high. Increased exports from China and Argentina are expected to encroach into U.S. world market share, reducing expected exports 2.9 million tons from 1998/99 levels. World barley trade is forecast to remain robust as Middle Eastern and North African demand continues strong. The EU is currently forecast to export a record nine million tons.
1999/2000 Trade Changes
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