There is normally a strong inverse relationship between international wheat prices and stocks held by major exporting countries because they are mostly available for export to the world market. Global wheat prices, as reflected by Hard Red Winter (W), have nearly doubled over the last year. The surge was initially fuelled by smaller crops and export restrictions in some major exporting countries, then concerns over available supplies of milling quality wheat. Prices are reflecting other factors, including a tight U.S. corn market, poor winter wheat crop conditions in the United States, and political unrest in North Africa and the Middle East.

Exporter stocks remain relatively high and are boosted almost 4 million tons this month. In fact, they are estimated to be 55 percent higher than during the price crisis of 2007/08. Stocks are up this month on more supplies from key Southern Hemisphere countries, namely, Argentina and Australia, and less import demand, particularly from Russia. U.S. stocks are raised on lower foreign demand as a result of greater competition from Australia.

Desk Reference Table (Entire Circular PDF available at 10:00 a.m.)

Tables (available at 9:00 a.m)

Wheat

Monthly Commentary: Wheat: World Markets and Trade

Table 1:  World Wheat, Flour, and Products Trade

Table 2:  World Wheat Production, Consumption, and Stocks

Table 3:  Regional Wheat Imports, Production, Consumption, and Stocks

Rice

Monthly Commentary: Rice: World Markets and Trade

Table 1:  World Rice Trade

Table 2:  World Rice Production, Consumption, and Stocks

Table 3:  Regional Rice Imports, Production, Consumption, and Stocks

Coarse Grains

Monthly Commentary: Coarse Grains: World Markets and Trade

Table 1:  World Coarse Grain Trade

Table 2:  World Coarse Grains Production, Consumption, and Stocks

Table 3:  Regional Coarse Grain Imports, Production, Consumption, and Stocks

Table 4:  World Corn Trade

Table 5:  World Corn Production, Consumption, and Stocks

Table 6:  Regional Corn Imports, Production, Consumption, and Stocks

Table 7:  World Barley Trade

Table 8:  World Barley Production, Consumption, and Stocks

Table 9:  Regional Barley Imports, Production, Consumption, and Stocks

Table 10: World Sorghum Trade

Table 11: World Sorghum Production, Consumption, and Stocks

Table 12: Regional Sorghum Imports, Production, Consumption, and Stocks

Table 13: World Oats Trade

Table 14: World Oats Production, Consumption, and Stocks

Table 15: Regional Oats Imports, Production, Consumption, and Stocks

Table 16: World Rye Trade

Table 17: World Rye Production, Consumption, and Stocks

Table 18: Regional Rye Imports, Production, Consumption, and Stocks

Historical Data Series

Table 1:  European Union: Grain Supply and Demand

Table 2:  China: Grain Supply and Demand

Table 3:  Other Europe: Grain Supply and Demand

Table 4:  Former Soviet Union: Grain Supply and Demand (Wheat and Coarse Grains)

Table 5:  Former Soviet Union: Grain Supply and Demand (Wheat)

Table 6:  Former Soviet Union: Grain Supply and Demand (Corn)

Table 7:  Former Soviet Union: Grain Supply and Demand (Barley)

Table 8:  Wheat Supply and Disappearance: Selected Exporters

Table 9:  Corn Supply and Disappearance: Selected Exporters

Table 10: Barley Supply and Disappearance: Selected Exporters

Table 11: Sorghum Supply and Disappearance: Selected Exporters

Table 12: U.S. Grains Supply and Distribution: Wheat, Corn, Sorghum, Barley, Oats, Rye, and Rice

Table 13: Total Wheat and Coarse Grains: Supply and Demand

Table 14: World Wheat and Coarse Grains: Supply and Demand

Table 15: World Corn and Barley: Supply and Demand

Table 16: World Rice: Supply and Demand

Endnotes: Regional Table Definitions and other notes.

Additional Resources

Production, Supply and Demand Database Online (PSD Online)

World Agricultural Supply and Demand Estimates (WASDE)

Interagency Commodity Estimates Committees (ICEC) View Interactive Global Map of Wheat Production and Trade View Interactive Global Map of Corn Production and Trade

Grain Commodity Experts

Data in this report is available in both Adobe Acrobat and Excel spreadsheet formats. You may need to Get the Adobe Acrobat Reader.