U.S.-Canada Quarterly Grain Trade Consultations, August 2001
U.S. and Canadian officials met on August 23, 2001, for grain trade consultations as provided for under the Record of Understanding and Action Plan agreed to between Canada and the United States. Since January 1999, the two sides meet quarterly to exchange information on grain market developments and prospects.
The consultations, as set out in the Action Plan, provide an opportunity for an open and useful discussion on a wide range of grain trade related topics. Officials reviewed the global market situation, including bilateral grain trade flows, projections for the current year, current issues of concern and discussed a number of other measures that could affect trade. Each participantís projections are based on current and anticipated market conditions and may be revised as markets evolve.
The first projections for 2001/02 indicate that overall Canadian wheat exports would decline from the levels of the last two years reflecting a smaller crop. However, wheat exports to the U.S. are expected to increase from the low 2000/01 level. Canadian durum shipments to the U.S. are projected to increase in 2001/02 after two years of reduced shipments. Canadian barley exports, mainly malting quality, are projected to be smaller than the 2000/01 level because of crop quality considerations. U.S. corn exports to Canada are expected to decrease significantly, particularly to eastern Canada, after the record level of exports reached in 2000/01 .
The projections are highly tentative at this time due to uncertainty of the size and quality of the spring crops on both sides of the border. The projections which were discussed are each participantís views of how markets are likely to evolve and are not commitments.
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* Canadian production and export projections were provided by Agriculture and Agri-Food Canada and U.S. production and export projections were provided by the USDA's Foreign Agricultural Service.