Global Wheat Exporter Stocks Tighten to Satisfy Record Import Demand
16.07.2018 15:00 "Agro Perspectiva" (Kyiv) —
According to the report of the USDA «Grain:World Markets and Trade» (July 2018), global wheat trade for 2018/19 is forecast at a record, driven by strong demand resulting from rising incomes and shifting diets largely in Asia and Africa. While Argentina, Australia, Canada, and the United States are forecast to have slightly higher production, the European Union and Black Sea region (mainly Russia) are down sharply. To satisfy this growing demand, major exporters’ stocks will shrink. After several years of record production and large carry-in supplies, major exporter ending stocks are forecast to decline about 25 percent from last year’s level. Russia is forecast again to be the top exporter despite its smaller crop. Its large stocks are expected to support the export forecast. In contrast, the United States is still expected to hold large stocks due to strong competition of low-priced wheat from the European Union and the Black Sea.