Grain: World Markets and Trade
Foreign Agricultural Service Circular Series
As European Wheat Supply Shrinks,
Other Major Exporters Benefit
Exportable 2003/04 supplies in Europe (EU, Eastern Europe, Russia, and
Ukraine) plummeted as a harsh winter and summer drought reduced wheat
production by more than a quarter. This dearth of European wheat is
tightening global supplies and contributing to a drop in world ending
stocks to a 22-year low. HRW FOB Gulf prices have climbed $25/ton in the
past two months.
European exports are forecast to fall nearly 65 percent (25 million tons) from last year. Ukraine and Eastern Europe are forecast to become net importers, purchasing most of their wheat from the EU and Russia. This will leave even less European wheat available for export to other markets. Argentina, Australia, Canada, and the United States will benefit from this situation as they regain markets lost last year.
Complete Grain Report in PDF: Text and Tables
All Grain Summary Tables: Foreign Countries and US Data
Situation and Outlook: Commentary and Current Data
Historical Data Tables: Selected Regions and Countries
Notice to readers:
The Grain: World Markets and Trade circular series no longer includes a printed version of the Historical Data Series for Selected Regions and Countries. Beginning with the January 2003 publication, these historical tables will be available only electronically. The historical tables, along with an electronic version of the Grain: World Markets and Trade circular are available via the FAS website (http://www.fas.usda.gov/grain/). The printed version of the circular will continue to include the Summary Tables and the Situation and Outlook reports.
General Footnotes for Grain Tables
Grain and Feed Contact List
Data in this report is available in both Adobe Acrobat and Excel spreadsheet formats. You may need to Get the Adobe Acrobat Reader.
Last modified: Thursday, November 13, 2003