How Much Wheat is Available
The latest USDA WASDE report lowered U.S. wheat exports on slow sales pace and increased foreign competition. Global wheat supplies projected lower on higher EU feed use and lower Chinese production. Global wheat production lowered, primarily on dry Australian weather. Exports raised for Ukraine, EU, Russia and India and lowered for the U.S. and Australia. Global wheat feeding lowered. At the projected 174.2 million tons, global stocks remain 46.0 million tons above the recent low in 2007/08.