Positive U.S. Wheat Supply-Demand Fundamentals o U.S/World End Stocks-to-Use vs Prices by Marketing Year Mktg Yr World % S/U U.S. % S/U U.S. $/bu 20.9% S/U 13.2% S/U $6.48 /bu 26.4% S/U 28.9% S/U $6.78 /bu 30.9% S/U 48.4% S/U $4.87 /bu 30 ... argentina, australia, russia, united states
10 | P a g e IV. WheatMarket Information U.S. WheatExports: “Neutral‐bearish” short term MY 2012/13 WheatExport Shipments with neutral‐to‐uncertain wheat production & export prospects in Black Sea region, Australia, Argentina, etc. (More positive longer term ... projn with 86.5% of MY complete (45/52 wks) CurrentMarket Issues affecting Wheat ... U.S. HRW WheatExports: “Neutral‐bearish” short term MY 2012/13 HRW Export
IV. WheatMarket Information Bullish “short term” MY 2012/13 U.S. WheatExport Shipments with neutral‐to‐uncertain wheat production & export prospects in Black Sea ... Transportation Logistics Issues in U.S. CurrentMarket Issues affecting Wheat o Uncertainty ... July 2013 KCBT eWheat: $7.56 ¼ on Th, Mar. 14, 2013
Transportation Logistics Issues in U.S. CurrentMarket Issues affecting Wheat o Uncertainty ... o Production risks / questions in other major exporting countries (Australia, Black Sea Region, Argentina, etc.) o Russian / Black Sea wheatexports in March‐May 2013 ... Positive U.S. Wheat Supply‐Demand Fundamentals o U.S/World End Stocks‐to‐Use vs Prices by Marketing Year Mktg Yr World % S/U U.S. % S/U U.S. $/bu 20.9% S/U 13.2% S/U $6.48 /bu 26.4% S/U 28.9% S/U $6.78 /bu 30.9% S/U 48.4% S/U $4.87 /bu 30
Transportation Logistics Issues in U.S. CurrentMarket Issues affecting Wheat o Uncertainty ... o Production problems / questions in other major exporting countries (Australia, Black Sea Region, Argentina, etc.) o Russian / Black Sea wheatexports in March‐May 2013 ... Positive U.S. Wheat Supply‐Demand Fundamentals o U.S/World End Stocks‐to‐Use vs Prices by Marketing Year Mktg Yr World % S/U U.S. % S/U U.S. $/bu 20.9% S/U 13.2% S/U $6.48 /bu 26.4% S/U 28.9% S/U $6.78 /bu 30.9% S/U 48.4% S/U $4.87 /bu 30
6|Page CurrentMarket Issues affecting Wheat o Questions re: U.S. 2013 HRW ... exporting countries (Australia, Black Sea Region, Argentina, etc.) o Russian / Black Sea wheatexports in April-May 2013 (the “path forward”) & “rebuilding stocks in Black ... 2.1%/yr 1.29%/yr Million Metric Tons “Lower” World Corn Exports In MY2012/13 3.0%/yr 2008/09 thru Production Usage Trade End Stocks MY 2007/08 MY 2008/09 MY 2009/10 MY 2010/11 MY 2011/12 MY 2012/13