mag
28-2-2005, 05:44 pm
Projected U.S. 2004/05 ending stocks of wheat are down 25 million bushels from last month. Exports are up 25 million bushels due to higher world imports and stronger-than-expected sales of hard bread wheats. Hard red spring wheat exports are 15 million bushels more than last month; hard red winter exports are up 12 million bushels; and white wheat exports are up 5 million bushels. Soft red winter wheat exports are down 5 million bushels and durum exports are 2 million bushels lower than last month. The projected price range is $3.30 to $3.45 per bushel, up 5 cents on the lower end.
Projected 2004/05 global wheat production, use, and stocks are up slightly from last month. Global wheat production is raised 1.3 million tons to a record 622 million tons, up 13 percent from last year. Larger crops are projected for Russia (up 0.8 million tons) and Serbia and Montenegro (up 0.6 million tons), with smaller increases for several other countries. Global consumption is raised fractionally from last month due to higher feed use. Global imports and exports are up slightly from last month. The EU-25's imports are up 0.5 million tons and smaller increases in imports are projected for Georgia, Mozambique, Ghana, and Jamaica. In addition to larger projected U.S. exports, Argentina's exports increase 0.5 million tons.
Lower exports for Kazakstan (down 0.5 million tons) and Romania (down 0.2 million tons) are partially offsetting. Global ending stocks are up fractionally from last month's projection with the largest changes occurring in Argentina (down 0.9 million tons), the United States (down 0.7 million tons), and the EU-25 (up 0.7 million tons).
Projected 2004/05 global wheat production, use, and stocks are up slightly from last month. Global wheat production is raised 1.3 million tons to a record 622 million tons, up 13 percent from last year. Larger crops are projected for Russia (up 0.8 million tons) and Serbia and Montenegro (up 0.6 million tons), with smaller increases for several other countries. Global consumption is raised fractionally from last month due to higher feed use. Global imports and exports are up slightly from last month. The EU-25's imports are up 0.5 million tons and smaller increases in imports are projected for Georgia, Mozambique, Ghana, and Jamaica. In addition to larger projected U.S. exports, Argentina's exports increase 0.5 million tons.
Lower exports for Kazakstan (down 0.5 million tons) and Romania (down 0.2 million tons) are partially offsetting. Global ending stocks are up fractionally from last month's projection with the largest changes occurring in Argentina (down 0.9 million tons), the United States (down 0.7 million tons), and the EU-25 (up 0.7 million tons).