Re: Northwest Wheat Harvest - McCoy
Author: up833
Date: 08-17-2013 - 11:28
Everything grain can be found at www.grainnet.com.
Expect a record corn harvest in the US this season. Other than that the world production of wheat is running higher than expected for 2013 and export prices are down. From the USDA August report:
U.S. wheat exports for 2013/14 July-June are projected to increase 0.5 million tons
this month to 30.0 million, up 8 percent on the previous year. The pace of exports
was strong in July 2013, and outstanding sales as of August 1, 2013 were 8.0
million tons (vs. 5.1 million last year), making total commitments higher by more
than 50 percent from a year ago. This month’s increase in the U.S. exports
prospects is comparatively small, and mostly reflects increased exports to China and
South America (partly replacing lower Argentine exports). Large foreign production
and low world prices are expected to limit U.S. exports later in the year, particularly
for lower quality wheat. For the local June-May marketing year, U.S. exports are up
25 million bushels to 1,100 million (or 29.9 million tons).