SITUATION AND OUTLOOK:
COMMENTARY AND CURRENT DATA
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
Selected Exporters
- Argentina exports up
500,000 tons to 11 million to reflect increased sales
prospects.
- Australia exports
down 1.5 million tons reflecting lower crop expectations.
- Canada down 500,000
tons to 18 million due to decreased crop expectations.
- Kazakstan up 500,000
tons, reflecting larger crop prospects.
- Turkey down 500,000
tons due to lower exportable supplies.
Selected Importers
- China imports down 1
million tons to 2 million based on slow import pace and
adequate stocks.
- Egypt imports down
300,000 to 6.2 million due to a slow import pace.
- Iran down 300,000 due
to slower than expected import pace.
- Morocco imports down
200,000 to 3 million based on a larger crop.
Download the wheat tables in:
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Lotus Spreadsheet Format
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Last modified: Thursday, November 13, 2003
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