Domestic: In July, wheat prices were mixed as the pace of harvest in the northern hemisphere accelerated. Hard Red Winter (HRW) slipped $2 to $233/ton, Soft Red Winter (SRW) rose $9 to $185/ton, Hard Red Spring (HRS) declined $5 to $261/ton, and Soft White (SWW) was down $11 to $204/ton.
TRADE CHANGES IN 2009/2010
Selected Exporters:
Argentina is cut 1.0 million tons to only 1.5 million, the lowest in 36 years, on smaller crop prospects and reduced exportable supplies.
Canada is down 500,000 tons to 17.0 million on a lower production estimate.
EU is raised 2.0 million to 20.0 million on larger exportable supplies and reduced competition from Russia.
India is slashed 1.8 million tons to 200,000 based on the Government’s decision to restrict wheat exports.
Kazakhstan is lowered 500,000 tons to 6.5 million based on reduced exportable supplies.
Russia is lowered 2.0 million tons to 16.5 million on a significant production cut that reduced available exportable supplies.
Ukraine is boosted 2.0 million tons to 8.0 million on larger crop prospects and less competition from Russia.
United States is up 1.0 million tons to 26.0 million based on larger crop prospects and an enhanced competitive position vis-à-vis Argentina and Canada.
Selected Importers:
Afghanistan is lowered 300,000 tons to 800,000 on better crop prospects.
TRADE CHANGES IN 2008/2009
Selected Exporters:
Large Late-Season Adjustments Reflecting Reported Shipments:
Canada up 500,000 tons to 18.3 million
Kazakhstan up 500,000 tons to 5.5 million
Pakistan cut 600,000 tons to 1.8 million
Ukraine raised 450,000 tons to 13.0 million
Turkey up 300,000 tons to 2.3 million
United States up 400,000 tons to 27.1 million
Selected Importers:
Large Late-Season Adjustments Reflecting Reported Shipments:
Egypt up 300,000 tons to 9.8 million
Yemen up 300,000 tons to 2.6 million
Japan down 344,000 tons to 5.2 million