Global Ending Stocks Would Set New Record if Realized in Feb. WASDE
February 9
U.S. wheat ending stocks projected 25 million bushels lower while exports are raised for SRW, SW and HRW and offset by lower exports for HRS for a total export increase of 25 million bushels. Global wheat supplies projected higher based on increased production in India, Kazakhstan and Morocco. Global trade raised slightly with world imports increased 0.7 MMT. Exports reductions for Ukraine, Canada and India are offset by increases for Russia, the US, Argentina and Brazil. Global wheat consumption is reduced 1 MMT. Global ending stocks for 2011/12 are raised 3.1 MMT to a record 213.1 million. As projected, 2011/12 global wheat stocks would be 2.4 MMT higher than the previous record in 1999/2000.
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Market Factors, Trade Initiatives, Cakes and Doughnuts and More in Wheat Letter
February 2
In the latest edition of Wheat Letter: read why market factors are adding excellent value to high-quality U.S. wheat, why USW and NAWG are calling for an open border with Canada, how federal support for U.S. farm programs is down, about USW’s new Secretary-Treasurer Roy Motter, about President Obama’s trade initiatives in the State of the Union address, how cake and doughnut short courses are building a partnership in the Philippines and other wheat industry happenings.
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