WORLD COARSE GRAINS SITUATION AND OUTLOOK
World coarse grain trade for 2000/01 is projected down marginally to 99.7 million. Slightly higher world production is expected as bigger crops in the United States, Brazil, and the EU more than offset reductions in Eastern Europe and China. Growth in global consumption is expected to continue strong, so even with a record US corn crop, global carryout stocks are forecast to decline slightly.
Global corn trade is forecast up marginally, at 71 million tons. US exports are now projected to increase 7 million tons over forecast1999/00 levels, largely because of reduced competition from China and Eastern Europe. World barley trade is forecast to remain robust as Mid Eastern and North African demand continues strong. The EU will remain the largest supplier, although Australia and Canada are forecast to increase exports.
US Gulf FOB prices for corn remain below $80 and futures indicate the lower export prices will continue into the new crop year.
2000/01 Trade Changes
1999/00 Trade Changes
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