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According to WASDE, global 2013/14 wheat supplies are projected 3 percent higher than in 2012/13 with a 51.2-million-ton increase in foreign production more than offsetting a 19.3-million-ton reduction in global beginning stocks and lower forecast production in the United States. At the projected 701.1 million tons, global production would be a record and up 45.5 million from 2012/13. Production for 2013/14 is projected higher in all of the world’s major exporting countries with the largest increases expected in the FSU-12 and EU-27, up 29.9 million tons and 6.7 million tons, respectively. Production is projected higher for Australia, Argentina, and Canada, up a collective 6.2 million tons from the current year. Also affecting global trade prospects in 2013/14 are year-to-year production increases for major importers, the Middle East and North Africa, where weather has been favorable for winter crops since seeding last fall. Global wheat exports for 2013/14 are projected higher than in 2012/13 with increases expected for FSU-12, Argentina, and India more than offsetting reductions for EU-27 and Australia. Global wheat consumption is projected 20.0 million tons higher with increases in both feeding and food use. Wheat feed and residual use is raised for FSU-12 and EU-27 with larger production. The largest increase in food use is for India, but lower prices support small increases for many countries. Global ending stocks for 2013/14 are projected at 186.4 million tons, up 6.2 million on the year.
Global coarse grain supplies for 2013/14 are projected at a record 1,407.6 million tons, up 113.8 million from 2012/13. Global corn production for 2013/14 is projected at a record 965.9 million tons. Foreign corn production is up 23.5 million tons. The largest increases are projected for the FSU-12, EU-27, and China, but large crops are again expected in 2013/14 for Brazil and Argentina. Global corn trade is projected higher with increased imports for China more than offsetting a reduction for EU-27. Spurred by lower prices, smaller year-to-year import increases are projected for a number of countries. Exports are lowered for Brazil, India, and Argentina, but raised for Ukraine and EU-27. World corn consumption is projected at a record 936.7 million tons, up 72.8 million from 2012/13 with foreign consumption up 41.5 million. Global corn ending stocks for 2013/14 are projected up 29.2 million tons on the year. At 154.6 million tons, stocks would be a 13-year high.
May 2013/ WASDE-USDA/ United States.
http://usda01.library.cornell.edu
