August 2002 Edition
Significantly lower production among last year’s top four global exporters is expected to cause their shipments to fall by 10 million tons, which is equivalent to nearly 10 percent of global trade. However, the EU and non-traditional exporters will partially mitigate the impact.
The top four exporters are considered to be the predominant suppliers of good quality milling wheats, and their reduced exportable supplies have led to dramatically higher prices. For example, HRW FOB Gulf prices soared nearly $30/ton in just 60 days, widening the gap between lower quality wheats from the EU and non-traditional suppliers.
Meanwhile, exportable supplies from the FSU, India, and Turkey are expected to remain high with forecast net exports 10 million tons greater than just 2 years ago. Additionally, with record crop prospects, the EU will rebound from being the largest global importer to a large net exporter. Supplies from the EU and non-traditionals are typically lower quality than the majors.
Complete Grain Report in PDF: Text and Tables
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All Grain Summary Tables: Foreign Countries and US Data
Situation and Outlook: Commentary and Current Data
Historical Data Tables: Selected Regions and Countries
General Footnotes for Grain Tables
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