COARSE GRAINS: WORLD MARKETS AND TRADE
Turkey Becomes Net Coarse Grain Exporter: With record corn production, Turkey has become a substantial net corn exporter for the first time in history. Exports are estimated to reach 250,000 tons, with sales already reported to Israel and Syria. Greater exportable supplies are available because of the large crop and lower consumption by the poultry sector, which has since October 2005 been impacted by the Avian Influenza outbreak.
Turkey has also returned as a net barley exporter for the first time in 3 years. With greater supplies, sales to Syria, Morocco, and Saudi Arabia have surged (see PDF version for chart).
Domestic: January export bids for #2 yellow corn were unchanged at $103/MT but bids for #2 yellow sorghum (Texas Gulf) were up sharply by $5 to $101/MT.
There was upward pressure on corn prices because of concerns over weather in South America and a pick-up in export activity. However, this increase was offset by large supplies and strong farmer selling into rallies. Sorghum prices have likely been undergirded by strong sales to Mexico and food aid shipments. (see PDF version for chart).
TRADE CHANGES IN 2005/2006
Return to Table of Contents
Last modified: Friday, February 10, 2006