WORLD WHEAT SITUATION AND OUTLOOK
World wheat trade in 2000/01 is estimated at 105.1 million tons, down 3 million from last year. U.S. exports are up slightly from last year due to reduced competition. Global production is down due to smaller crops though the shortfalls are tempered by a record crop in the EU. Forecast consumption remains well above production for the fourth straight year resulting in a stocks drawdown of 16.8 million tons, the largest since 1994/95.
Over the past month, wheat prices are up slightly from near decade lows. Exportable supplies will tighten with expected production decreases by key exporters. World wheat trade in 2000/01 is forecast down slightly this month.
2000/01 Trade Changes
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