Wheat

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Wheat
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Kims web sitefor wheat market information
agecon.okstate.edu/anderson
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KCBT Dec price
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Ending Stocks
5-year average
2006/07
2007/08
Million Bushels
U.S.
520
456
362
World
5,320
4,589
4,128
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Argentina Australia
2006/07 2007/08 5-yr avg.
Million Bushels
Argentina 559 514 532
Australia 367 772 692
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Corn
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Soybeans
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HRW wheat production area
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Corn
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SRW wheat production area
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Soybeans
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Other Spring Wheat excl. Durham
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Durum
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White Winter Wheat
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KCBT July 08
5.95 -0.40 5.55
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Production
5-year avg.
07
Guess
million bushels
U.S. 2,106 2,114 2,250
2,005
World 21,720 22,428
22,800
22.9 21.9
21.7
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U.S. Wheat Supply and Use
Kims 08/09
USDA 07/08
million bushels
370 2,250 2,720 1,025 2,225 495 4.60
456 2,114 2,655 1,075 2,293 362 5.40

• Beginning stocks
• Production
• Supply, Total
• Exports
• Use, Total
• Ending Stocks
• Avg. farm price

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World Wheat Supply and Use
Kims 08/09
USDA 07/08
million bushels
4.13 22.80 26.93 22.50 4.43
4.59 22.43 27.02 22.80 4.22

• Beginning stocks
• Production
• Supply, Total
• Use, Total
• Ending Stocks

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KCBT July 07
Freeze
Rain
4.70 -.40 4.30
CN08 3.92 0.40 4.32
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Important points

• U.S. and world wheat stocks remain tight
• KCBT Basis imply higher Nov 07 prices
• Going into harvest, prices will be relatively
  high
• Market 5.60
• Kim 4.80
• Corn 4.30

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