Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
Australia Medium Grain Rice #1 $ N/A    Egypt 101 #2 $760    Egypt 178 #2 Rice $730    EU Prices Baldo €660    EU Prices LG-A Ariete 5% €550    EU Prices MG Lotto 5% €500    EU Prices RG Balilla 5% €500    Russia Rapan $ 700    USA Jupiter Paddy $375    USA Calrose #1 Paddy $480    USA Jupiter Rice $630    USA Calrose #1 $830   

 Main Page
 Home Page of This Title
 Medium Grain Rice Market
 Global Market News
 Grain News
 Pulses News
 Global Overview
 Importers Profile
 Exporters Profile
 What Is Rice
 History Of Rice
 Rice Harvest Seasons
 Rice Processing
 Rice Nutrition Facts
 Meals With Rice
 INCO Terms
 US Rice Standards
 EU Codex Standards
 Egyptian Specs
 Sponsor List
 All Links
 Commodity Exchange
Search in news database
USDA cuts 2004 U.S. wheat carryover projection as exports rise
USDA, January 14, 2004
WASHINGTON — Spurred by continuing strength in U.S. wheat exports, the Economic Research Service of the U.S. Department of Agriculture on Monday lowered by 24 million bushels (653,000 tonnes), or 4%, its wheat carryover forecast for June 1, 2004.

Even with that reduction, the projected carryover, at 559 million bushels (15.2 million tonnes would represent an increase of 68 million bushels, or 14%, from 491 million bushels (13.4 million tonnes) as of June 1, 2003.

The decrease in the carryover forecast resulted from a 25-million-bushel upward revision, to 1.125 billion bushels, in the ERS projection for 2003-04 U.S. wheat exports. That increase overwhelmed the minor impact of a 1-million-bushel decrease, to 84 million, in projected seed use of wheat in the current year.

"Projected exports are 25 million bushels above last month because of increased world import demand and the strong pace of exports to date," the ERS said in commentary accompanying the January supply/demand data.

If the revised export projection proves accurate, the 2003-04 wheat outgo would be the largest since 1995-96, when exports totaled 1.24 billion bushels. U.S. wheat exports in 2002-03 reached just 854 million bushels, a 31-year low. The recent five-year average for U.S. wheat exports is 1 billion bushels.

The ERS raised its export projection by 25 million bushels in each of the last three monthly supply/demand reports. The initial export forecast for 2003-04, made last May, was 950 million bushels.

The ERS left unchanged its projection, at 2.9 billion bushels, of 2003-04 wheat supplies. That amount comprises beginning stocks of 491 million bushels, expected production at 2.34 billion bushels and imports of 75 million.

The ERS projected food use of wheat in 2003-04 at 910 million bushels, unchanged from the December forecast but down 8 million bushels from 2002-03 and down from 926 million bushels in 2001-02. Food use of wheat was a record high in 2000-01 at 950 million bushels.

Projections for total domestic use of wheat in 2003-04 equaled 1.22 billion bushels, down 1 million bushels from December but up 91 million bushels, or 8%, from 1.13 billion bushels in 2002-03.

Total disappearance of wheat in 2003-04 was projected at 2.34 billion bushels, up 24 million from the December forecast and up 362 million bushels, or 18%, from 1.98 billion bushels in 2002-03 and compared with 2.16 billion bushels in 2001-02.

The ERS said the national average farm price of wheat should fall within a range of U.S.$3.25 to U.S.$3.45 per bushel (U.S.$119 to U.S.$127 per tonne) in 2003-04, up 5c from the range forecast in December and compared with $3.56 in 2002-03 and $2.78 in 2001-02.
MGR Archive 14.1.2004
Printer Friendly Version Of This Article
Send This Article To A Friend
User Name:
      Forgot your Password?
Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
Click for Details

Medium Grain Reports
Rice Market News
World Rice Markets and Trade
USDA Country Reports
Rice Market Monitor
Rice Outlook
Italian Paddy Supply
European Rice Weekly
EU Reports
Convert this amount:

  © 2002 All rights reserved. - Legal Notice