World wheat ending stocks for 2012-13 were projected at 178.23 million tonnes, up 1.5 million tonnes from 176.73 million tonnes projected in February but down 18.24 million tonnes, or 9%, from a downwardly revised 196.47 million tonnes in 2011-12, the U.S. Department of Agriculture said in today’s World Agricultural Supply and Demand Estimates.
Global 2012-13 wheat production was projected at 655.48 million tonnes, up 1.87 million tonnes from 653.61 million tonnes in February but down 41.53 million tonnes, or 6%, from an upwardly revised 697.01 million tonnes the previous year. Global wheat use was projected at 673.72 million tonnes, up slightly from 673.43 million tonnes in February but down 24.73 million tonnes, or 4%, from an upwardly revised 698.45 million tonnes in 2011-12. World exports were projected at 133.09 million tonnes, up 1.42 million tonnes from 131.67 million tonnes in February and down 24.2 million tonnes, or 15%, from 157.29 million tonnes in the prior year.
U.S. 2012-13 wheat exports were projected at 27.9 million tonnes, down from 28.58 million tonnes in February.
Australia’s projected 2012-13 wheat exports were unchanged from February at 16.5 million tonnes, but were down 8.19 million tonnes, or 33%, from 24.69 million tonnes in 2011-12. Russia’s exports were unchanged from February at 10.5 million tonnes, down sharply from 21.63 million tonnes in 2011-12. Ukraine’s exports were forecast at 6.5 million tonnes, up from 6.2 million tonnes in February and from 5.44 million tonnes the prior year. The U.S.D.A. projected 2012-13 wheat exports from India at 6.5 million tonnes, unchanged from February but up sharply from 890,000 tonnes last year. Exports from the E.U.-27 were raised 1 million tonnes from February to 19.5 million tonnes, while Canadian exports were unchanged at 18.5 million tonnes.
World 2012-13 corn ending stocks were projected at 117.48 million tonnes, down 560,000 tonnes from 118.04 million tonnes in February but down 13.68 million tonnes, or 10%, from an upwardly revised 131.16 million tonnes in 2011-12.
U.S. corn exports were projected at 20.96 million tonnes, down from 22.86 million tonnes projected in February.
The U.S.D.A. projected Argentina’s 2012-13 corn exports was 19 million tonnes, the same as in February but up 1.5 million tonnes, or 9%, from the previous year. Brazil’s exports were projected at 19 million tonnes, the same as in February, but down 5.3 million tonnes, or 22%, from 2011-12.
Global 2012-13 soybean ending stocks were projected at 60.21 million tonnes, up slightly from 60.12 million tonnes in February and up 4.96 million tonnes, or 9%, from 55.25 million tonnes in 2011-12.
U.S. soybean exports were projected at 36.61 million tonnes, unchanged from February.
Brazil’s projected production was 83.5 million tonnes, unchanged from February but up 17 million tonnes, or 26%, from the previous year, the U.S.D.A. said. Exports were pegged at 38.4 million tonnes, the same as February but up 2.08 million tonnes, or 6%, from 36.32 million tonnes the previous year. Argentina’s projected soybean production was 51.50 million tonnes, down from 53 million tonnes in February but up 11.4 million tonnes, or 28%, from 40.1 million tonnes in 2011-12. Argentina’s exports were projected at 10.9 million tonnes, the same as in February.
World rice ending stocks were projected at 103.32 million tonnes for 2012-13, up 1.37 million tonnes from 101.95 million tonnes in February but down 2.16 million tonnes, or 2%, from an upwardly revised 105.48 million tonnes in 2011-12.
