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| United States Department of Agriculture |
| Foreign Agricultural Service |
Circular Series
FG 0108 |
| January 2008 |
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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 $201 per ton in
December, up over $16 from November prices.
Strong demand for U.S. corn and tight exportable
supplies of foreign feed grains have kept prices
firm. Sorghum prices averaged $205 per ton, up
$15 from November prices, due to continued
strong demand, sales, and shipments to the
EU-27.
TRADE CHANGES IN
2007/2008
Selected Exporters
- Brazil corn is boosted 500,000 tons
to a record 9.0 million because of
extraordinary demand from the EU-27 for feed
grains.
- Canada corn is doubled to 400,000
tons, the highest in 8 years, because of a
record crop, slowing domestic use, and
strong foreign demand. (Imports are cut by
300,000 tons to 2.0 million.)
- China corn is slashed by 500,000
tons to 1.0 million, the lowest in 12 years.
Recent government actions to curb food price
inflation--cancellation of VAT rebates for
exports and initiation of an export
tax--together with the lack of export quotas
for 2008 will severely limit additional
trade this year.
- Paraguay corn is raised by 400,000
tons to 1.6 million, the second highest
ever, based on strong early-season exports
to Brazil and the region. (Similarly, Brazil
corn imports are boosted by 200,000 tons to
950,000.)
- United States sorghum is up 200,000
tons to 7.2 million, the highest in 16
years, on the EU-27 demand for GMO-free feed
and the pace of commitments.
Selected Importers
- EU-27 corn is raised 500,000 tons to
10.0 million, the highest in almost a
quarter-century, as shipments continue to be
strong in the face of a major feed grain
deficit.
- Israel barley is cut 100,000 tons to
250,000 after 2 years of diminished imports
and evidence of increased use of corn in
feed rations.
- EU-27 sorghum is up 200,000 tons to
a record 3.9 million based on the pace of
sales and shipments from the United States.
TRADE CHANGES IN
2006/2007
Selected Exporters
- Mexico corn is raised to 200,000
tons (from zero) with updated trade data.
Selected Importers
- Updated trade data boosts two countries
to record imports: Iran corn at 3.2
million tons (up 200,000 tons) and Peru
corn at 1.5 million tons (up 228,000
tons).
- Jordan barley
is bolstered 204,000
tons to 804,000 and Tunisia barley is
raised 166,000 tons to a record 866,000
showing that high barley prices did not
dampen demand.
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