Tuesday, September 13, 2011

Wheat Market news


Chicago--Projected U.S. wheat ending stocks for 2011/12 are raised 90 million bushels this month with higher expected imports and lower expected food use and exports. Imports are raised 10 million bushels with larger supplies in Canada.

Food use is projected 5 million bushels lower in line with revisions to 2010/11 based on the latest and final U.S. Bureau of Census mill grind estimates and reflecting reduced prospects for per capita flour consumption during calendar year 2011. Exports for 2011/12 are projected 75 million bushels lower with larger supplies and exports expected for Canada and the EU-27. Global wheat for 2011/12 are projected 7.6 million tons higher mostly on larger beginning stocks in Canada and increased production for Canada, EU-27, and Ukraine.

Beginning stocks for Canada are raised 1.3 million tons and production is raised 2.5 million tons, both reflecting the latest estimates from Statistics Canada. EU-27 production is raised 2.3 million tons with increases for Germany, Romania, France, Spain, and Bulgaria as harvest reports and revisions to official estimates to indicate higher yields. Production for Ukraine is raised 1.0 million tons based on the latest harvest reports.

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