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1、Grain:WorldMarketsandTradeUnitedStatesDepartmentofAgricultureGrain:ForeignAgriculturalServiceCircularSeriesWorldMarketsandTradeFG03-11Mar2011HighWheatPricesDespiteAbundantExporterStocksWeeklyHRWfobGulfPricesWheatEndingStocksforExporterCountries$/tonMMT
2、52580704756042550375403253027520225101750125TraditionalExporters:Argentina,Australia,Canada,EU,andUnitedStatesDatathroughMarch4,2011BlackSea:Russia,Ukraine,KazakhstanThereisnormallyastronginverserelationshipbetweeninternationalwheatpricesandstocksheldb
3、ymajorexportingcountriesbecausetheyaremostlyavailableforexporttotheworldmarket.Globalwheatprices,asreflectedbyHardRedWinter(HRW),havenearlydoubledoverthelastyear.Thesurgewasinitiallyfuelledbysmallercropsandexportrestrictionsinsomemajorexportingcountrie
4、s,thenconcernsoveravailablesuppliesofmillingqualitywheat.Pricesarereflectingotherfactors,includingatightU.S.cornmarket,poorwinterwheatcropconditionsintheUnitedStates,andpoliticalunrestinNorthAfricaandtheMiddleEast.Exporterstocksremainrelativelyhighanda
5、reboostedalmost4milliontonsthismonth.Infact,theyareestimatedtobe55percenthigherthanduringthepricecrisisof2007/08.StocksareupthismonthonmoresuppliesfromkeySouthernHemispherecountries,namely,ArgentinaandAustralia,andlessimportdemand,particularlyfromRussi
6、a.U.S.stocksareraisedonlowerforeigndemandasaresultofgreatercompetitionfromAustralia.ApprovedbytheWorldAgriculturalOutlookBoard-USDATABLEOFCONTENTSWorldMarketsandTrade:CommentaryandCurrentDataWheat........................................................
7、.........................................................4Rice....................................................................................................................9CoarseGrains.............................................................
8、......................................14HistoricalDataSeriesforSelectedRegionsandCountries............................34EndnotestoGrain:WorldMarketsandTrade...............................................53TheForeignAgriculturalService(F