WORLD COARSE GRAINS SITUATION AND OUTLOOK
World coarse grain trade for 1999/2000 is projected up 1.8 million tons to 97.9 million, the highest level in ten years. Asian imports have rebounded to nearly the level reached in the mid-nineties. Global production is down 18 million tons compared to 1998/99 due mainly to reductions in the Chinese and U.S. corn crops and barley shortfalls in the Middle East. Global consumption is up nearly 10 million tons fueled mainly by soaring U.S. domestic consumption and increasing Asian demand. Ending stocks are down nearly 9 million tons due primarily to a reduction in Chinese and U.S. corn stocks and EU barley stocks.
Global corn trade is forecast up 1.1 million tons, to the highest level since 1994/95. Increased exports from China, Argentina, and South Africa are expected to reduce U.S. exports by 5.4 million tons from 1998/99. 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 9.5 million tons of barley.
1999/2000 Trade Changes
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