The USDA January world grain report did not include wide adjustments that could totally change the existing situation in the world market. January forecast for the final world wheat stocks — although reduced compared to the December report — remained at a record high level, the agn. Grain On-Line said citing the USDA webpage.
|
World Grain Balance Sheet |
Forecast Jan 2020 mln t |
% From Dec 2019 Estimates |
% from 2018/19 Estimates |
|
Initial Reserves |
278,06 |
0,08 |
-1,8 |
|
Output |
764,39 |
-0,13 |
4,5 |
|
All Offer |
1042,45 |
-0,08 |
2,8 |
|
Import |
178,19 |
0,35 |
4,9 |
|
Export |
181,07 |
0,70 |
4,6 |
|
Total Consupmtion |
754,37 |
0,08 |
2,4 |
|
End Stocks |
288,08 |
-0,49 |
3,6 |
Also, some changes were reported in the world export market. USDA reduced export forecasts in such leading countries as Australia and Russia by 200 thousand tons and by 1 million tons, respectively, due to decrease in wheat production. Meanwhile, the forecast for EU wheat exports increased significantly, by 2 million tons to 31 million tons. Ukrainian wheat exports will also rise by 500 thousand tons to 20.5 million tons.
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