Global production and consumption are raised
slightly. Although total trade is unchanged,
U.S. exports are up due to continued sales to
traditional markets. The forecast U.S.
season-average price is lowered slightly this
month reflecting prices received to date, but
remains a record.
Domestic: Wheat prices were mixed in
December. Hard Red Winter (HRW) and Soft Red
Winter (SRW) were nearly unchanged. Hard Red
Spring (HRS) was being pressured from Australian
and Canadian supplies and was down $25 to
$353/ton. Soft White Wheat (SWW), the only wheat
class with higher prices, was up $10 to $241/ton
and is closing the gap with SRW.
TRADE CHANGES IN 2011/12
is lowered 1.0 million tons to 20.5 million due
to strong competition from Russia in the Middle
is up 500,000 tons to 19.5 million as a result
of the strong sales and shipments to date.
• United States
is raised 500,000 tons to 25.0 million on the
pace of shipments and continued sales to
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