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Wednesday, December 23, 2015

AgManager.info: Grain Outlook

AgManager.info: Grain Outlook: Since USDA’s World Agricultural Supply and Demand Estimates (WASDE) and Crop Production reports on December 9th, U.S. and World wheat market prices have moved sideways-to-marginally higher. �For the “new crop” 2015/16 marketing year the USDA projected that 1) World wheat total supplies (947.0 mmt) and total use (717.1 mmt) would be at record high levels, 2) World wheat export trade (161.7 mmt) would be down moderately from a year ago (164.4 mmt) – with World export sales competition occurring in what can be termed a “buyer’s market”, and c) World wheat ending stocks (229.9 mmt – up from 212.1 mmt a year ago) would be record high, with percent ending stocks-to-use (32.1% - up from 30.0% a year ago) at their highest level in 14 years (since MY 2001/02).� The 38-year low in World wheat ending stocks of 128.6 mmt and percent ending stocks-to-use of 20.9% S/U occurred in the last major “short crop” marketing year in MY 2007/08.�