WORLD WHEAT SITUATION AND OUTLOOK
World wheat trade in 2000/01 is estimated at 105.8 million tons, the highest level in 8 years. U.S. export prospects are helped by firmer world import demand, although they face stronger competition from big exportable supplies in Australia, Canada, and the EU. Global production is down due mainly to smaller Chinese and North African crops, though the declines are partly offset by record crops in India and Pakistan. Forecast consumption remains well above production, resulting in a third year of global stocks draw down. However, any upward stimulus to prices will be mitigated by continued large stocks in the major exporting countries.
Over the past month, U.S. wheat prices have remained stable at just above decade lows. In early July, export quotes for #2 HRW FOB Gulf averaged about $115 per ton for nearby shipment, up $8 from a year ago. World wheat trade in 2000/01 is down half a million tons this month, with higher imports by the Philippines and Eastern Europe only partly offsetting big declines in Pakistan and Uzbekistan.
2000/01 Trade Changes
1999/2000 Trade Changes
Download the wheat tables in:
Adobe Acrobat Format
Lotus Spreadsheet Format
Return to Table of Contents