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| United States Department of Agriculture |
| Foreign Agricultural Service |
Circular Series
FG 1207 |
| December 2007 |
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Grain:
World Markets and Trade
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COARSE GRAINS: WORLD MARKETS AND TRADE
PRICES:
Domestic:
U.S corn export prices averaged $185 per ton in
November, up over $13 from October prices.
Strong demand for U.S. corn and tight exportable
supplies of foreign feed grains have kept prices
firm. Sorghum prices averaged $190 per ton, down
$11 from October prices due to competition from
Brazil and slowing demand from EU-27.
TRADE CHANGES IN
2007/2008
Selected Exporters
- United States corn is boosted 2.0
million tons to a record 62.0 million as a
result of strong foreign demand and lack of
competition.
- Argentina corn is cut by 2.0 million
tons to 15.0 million because of continuing
uncertainties over new-crop export
registrations (and a ceiling on old-crop
sales).
- South Africa corn is lowered by
200,000 tons to 800,000 due to a smaller
crop forecast and stronger domestic demand.
- Canada barley is reduced 200,000
tons to 2.2 million. A sharp decline in
production was mostly offset by increased
corn feeding with a larger corn crop.
- Russia barley is cut by 600,000 tons
to 1.0 million because of export
restrictions on a smaller crop.
- Ukraine barley is cut by 500,000
tons to 2.0 million, the smallest in 7
years, based on export restrictions.
Selected Importers
- Saudi Arabia corn is raised 600,000
tons to a record 2.0 million and barley is
cut 400,000 tons to 5.6 million. Strong
domestic demand for feed grains and tight
global barley supplies have led to some
displacement of barley by corn.
- Turkey corn is raised by 600,000
tons to 800,000 as a smaller crop and rising
prices prompted the government to slash
import duties from 130 percent to 35
percent.
- China barley is cut 100,000 tons to
1.3 million, reflecting diminished use of
malting barley as a consequence of tight
supplies and high prices.
- Middle East barley is cut 700,000
tons (Saudi Arabia alone 400,000 tons) based
on tight global supplies and high prices.
Similarly, Libya is cut 100,000 tons.
TRADE CHANGES IN
2006/2007
Selected Exporters
- Argentina corn is up 200,000 tons to
15.7 million with final trade data.
- EU-27 barley is raised by 400,000
tons to 4.4 million based on late-season
export licenses.
- Russia and
Ukraine barley are cut a combined
900,000 tons based on new trade data showing
a slowdown in late-season exports.
Selected Importers
- Saudi Arabia corn is up 300,000 tons
to 1.6 million with updated trade data.
- Mexico sorghum is cut by 186,000
tons (to 1.9 million) and EU-27 sorghum is
boosted by 300,000 tons to 1.5 million with
updated trade data.
- Middle East and
North Africa barley are cut nearly
600,000 tons as new trade data shows reduced
imports late in the season.
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