What is in this article?:
- Fed’s action to manage deflation
- Global growth improving
- Global weather problems
- Speculative activity
What is the outlook for global wheat ending stocks?
2010-11 global wheat production is estimated at 645.7 million metric tons, which is below projected global consumption of 664.9 million metric tons, but ending global stocks are still projected to be the second highest in the current nine marketing periods.
What is the outlook for global rice ending stocks?
2010-11 global rice production is projected at a record 459.2 million tons, significantly above the previous 2008-09 record production of 448 million metric tons. World rice ending stocks at 97.5 million metric tons exceed the previous seven years as the world becomes more food security conscious.
What is the outlook for the U.S. rice crop?
This year’s total U.S. rice crop (2010-11) is projected to be a record 245.9 million cwt., up 26.0 million from the previous rice crop (2009-10), according to USDA’s first survey-based forecast released Aug. 12. The previous record was set in 2004 with 232.4 million cwt.
U.S. total rice supplies for 2010-11 are now projected by USDA at a record 299.8 million cwt., up 29.9 million from the previous marketing year. The previous record was 2005’s 278.1 million cwt.
Total 2010-11 U.S. rice ending stocks at 56.8 million cwt. are the highest since 1985-86.