WORLD WHEAT SITUATION AND OUTLOOK
World wheat trade in 2000/01 is estimated at 106.6 million tons, off 4.5 million from last year. Global production is down in large part because of smaller harvest in Australia, China, Kazakstan, and the United States. Bumper harvests among major South Asian producers like India and Pakistan, will not only reduce their import needs but allow them to export. Global consumption is down slightly but is almost 17 million tons more than production.
In early December, export quotes for #2 HRW FOB Gulf averaged about $130 per ton, little changed from last month. World wheat trade in 2000/01 is forecast up slightly from last month largely because of higher imports of wheat for feeding by South Korea. More Canadian exports are offset less from the EU. Supplies of quality wheat have tightened while feed quality wheat is more abundant.
2000/2001 Trade Changes
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