WHEAT: WORLD MARKETS AND TRADE
Balkan Wheat Returns to the World Market: Romania and Bulgaria are both returning as net exporters this year, as production has rebounded from last year's record lows. Exports should return to more normal levels. However, while large quantities went to the EU-25 in previous years, an agreement now caps the amount with zero import duty at 275,000 tons for Bulgaria and 230,000 for Romania. Bulgaria's quota has already been filled, with shipments primarily to Spain. These quotas could therefore lead to a greater portion of sales to markets outside Europe. Bulgaria has already sold wheat to North African markets and even to Bangladesh. (See PDF version for chart)
Domestic: Prices during August declined through mid-month on larger crop prospects and more competition, but then moved upward with strong export sales and concern over bad weather in the Northern Plains.
For the week ending September 3, average HRW prices were $2 a ton higher and SRW was $5 a ton higher than the first week of August. HRS prices gained $12 a ton while SWW ended the month with a gain of $1 a ton. (See PDF version for chart)
TRADE CHANGES IN 2004/2005
TRADE CHANGES IN 2003/2004
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