USDA forecasts competitive wheat market next season

摘要

The USDA has lowered its estimate for US wheat exports in 2011/12 by 50 million bushels (1.36 million tonnes) as it anticipates reduced opportunities for overseas sales this month. Meanwhile, global supplies of the grain are expected to be higher dueto larger opening stocks in Argentina and Australia. "Larger supplies in several major exporting countries and relatively strong domestic prices, supported by the tight domestic corn [maize] supply and use situation, are expected to limit opportunities for US wheat in world trade," the agency said in its latest World Agricultural Supply and Demand Estimates (WASDE) report.