WORLD WHEAT SITUATION AND OUTLOOK
World wheat trade in 2000/01 is estimated down 4.5 million tons from last year to 106.9 million. Global production is down 9 million tons while consumption is almost unchanged. Despite a global stocks drawdown in 2000/01 of more than 17.5 million tons, stocks in the five major exporting countries are down only 4.8 million tons.
Over the past month, wheat prices have increased slightly. Early January export quotes for #2 HRW FOB Gulf averaged about $135 per ton. World wheat trade in 2000/01 is forecast up slightly from last month because of an increase in imports from the Ukraine and a few other countries. Global production is down 1.5 million tons from last month.
2000/2001 Trade Changes
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