Global wheat feed use and ending stocks for 2009/10 revised upward
Global wheat feed use and ending stocks for 2009/10 revised upward
According to the latest report released by the US Department of Agriculture, the global wheat use figure for 2009/10 was revised slightly upward by 200,000 tons, while the feed use figure was revised upward by 1.3 million tons.
Russia's wheat feed and other use figure for 2009/10 was revised upward by 500,000 tons to 18 million tons, due to a larger wheat crop. Israel's and South Korea's wheat feed use figures were likewise revised upward by 300,000 tons each, because feed wheat prices were competitive with corn and imports increased.
The global wheat ending stocks figure for 2009/10 was revised upward by 1.6 million tons to 188.3 million tons, of which the United States accounted for 600,000 tons. Due to a larger crop, Kazakhstan's wheat ending stocks figure was revised upward by 1.5 million tons.
In Syria, a larger wheat crop and higher imports will lead to an increase of 1.2 million tons in ending stocks. Turkey's and Bangladesh's ending stocks figures were revised upward by 300,000 tons and 200,000 tons respectively.
However, Australia's wheat ending stocks figure was revised downward by 1.7 million tons, due to a downward revision in the beginning stocks figure. Morocco's wheat ending stocks figure was revised downward by 600,000 tons, due to a downward revision in the beginning stocks figure and increased feed use.
The global wheat ending stocks-to-use ratio for 2009/10 was revised upward, exceeding 29%, setting the highest level since 2001/02.
Russia's wheat feed and other use figure for 2009/10 was revised upward by 500,000 tons to 18 million tons, due to a larger wheat crop. Israel's and South Korea's wheat feed use figures were likewise revised upward by 300,000 tons each, because feed wheat prices were competitive with corn and imports increased.
The global wheat ending stocks figure for 2009/10 was revised upward by 1.6 million tons to 188.3 million tons, of which the United States accounted for 600,000 tons. Due to a larger crop, Kazakhstan's wheat ending stocks figure was revised upward by 1.5 million tons.
In Syria, a larger wheat crop and higher imports will lead to an increase of 1.2 million tons in ending stocks. Turkey's and Bangladesh's ending stocks figures were revised upward by 300,000 tons and 200,000 tons respectively.
However, Australia's wheat ending stocks figure was revised downward by 1.7 million tons, due to a downward revision in the beginning stocks figure. Morocco's wheat ending stocks figure was revised downward by 600,000 tons, due to a downward revision in the beginning stocks figure and increased feed use.
The global wheat ending stocks-to-use ratio for 2009/10 was revised upward, exceeding 29%, setting the highest level since 2001/02.