September 17, 2008

Record world wheat trade of 122.9 million tonnes in 2008/09

USDA's Economic Research Service (ERS) said that with low-quality wheat priced competitively with corn, some grain importers are expected to increase wheat imports for feed use.

ERS said South Korea would import an additional 500,000 tonnes for feed use. Feed use in Israel and the Philippines was boosted by an additional 400,000 tonnes in each country.

They also reported that world wheat trade in 2008/09 (July-June) is projected to reach a record 122.9 million tonnes, up 1.6 million this month mostly due to increased imports of wheat for feeding.

In a Feed Outlook report, ERS said world ending stocks for feed grains in 2008/09 are projected at 147 million tonnes, up 3.2 million tonnes from a month ago.

The report pointed to increases in Russia, Kazakhstan, Ukraine, Belarus and China among others. Ending stocks were down in the EU-27, Australia and the US.