WORLD WHEAT SITUATION AND OUTLOOK
World wheat trade in 2000/01 is forecast down 5.6 million tons from last year to 106.8 million. Global production is down for the third consecutive year while consumption is presently estimated to ease from last year. Global stocks are forecast to fall 17 million tons thereby maintaining a low stocks to use ratio.
Over the past month, export quotes for #2 HRW FOB Gulf have dropped about $4 per ton to $131 per ton in early February. World wheat trade in 2000/01 is forecast nearly identical to last month.
2000/2001 Trade Changes
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