World wheat ending stocks up from March

by Laura Lloyd
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WASHINGTON — World wheat ending stocks for 2012-13 were projected at 182.26 million tonnes, up 4 million tonnes from 178.23 million tonnes projected in March but down 17.12 million tonnes, or 9%, from 199.38 million tonnes in 2011-12, the U.S. Department of Agriculture said in its April 10 World Agricultural Supply and Demand Estimates.

Global 2012-13 wheat production was projected at 655.43 million tonnes, down   slightly from 655.48 million tonnes in March and down 41.51 million tonnes, or 6%, from 696.94 million tonnes the previous year. Global wheat use was projected at 672.55 million tonnes, down 1.17 million tonnes from 673.72 million tonnes in March and down 23.91 million tonnes, or 3%, from 696.46 million tonnes in 2011-12. World exports were projected at 135.66 million tonnes, up 2.57 million tonnes from 133.09 million tonnes in March but down 21.73 million tonnes, or 14%, from 157.39 million tonnes in the prior year.

U.S. 2012-13 wheat exports were projected at 27.9 million tonnes, unchanged from March.

Australia’s projected 2012-13 wheat exports were 17.5 million tonnes, up 1 million tonnes from March but down 7.19 million tonnes, or 29%, from 24.69 million tonnes in 2011-12. Russia’s exports were seen at 10.7 million tonnes, up 200,000 tonnes from March but down 51% from 21.63 million tonnes in 2011-12. Ukraine’s exports were forecast at 7 million tonnes, up from 6.5 million tonnes in March 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 March but up sharply from 890,000 tonnes last year. Exports from the E.U.-27 were raised 1 million tonnes from March to 20.5 million tonnes, while Canadian exports were unchanged at 18.5 million tonnes.

World 2012-13 corn ending stocks were projected at 125.29 million tonnes, up 7.8 million tonnes from 117.48 million tonnes in March but down 6.59 million tonnes, or 5%, from 131.88 million tonnes in 2011-12.

U.S. corn exports were projected at 20.32 million tonnes, down from 20.96 million tonnes projected in March.

The U.S.D.A. projected Argentina’s 2012-13 corn exports was 19 million tonnes, the same as in March but up 1.85 million tonnes, or 11%, from the previous year. Brazil’s exports were projected at 19.5 million tonnes, up from 19 million tonnes in March but down 4.84 million tonnes, or 20%, from 2011-12.

Global 2012-13 soybean ending stocks were projected at 62.63 million tonnes, up 4% from 60.21 million tonnes in March and up 7.5 million tonnes, or 14%, from 55.13 million tonnes in 2011-12.

U.S. soybean exports were projected at 36.74 million tonnes, up slightly from 36.61 million tonnes in March.

Brazil’s projected soybean production was 83.5 million tonnes, unchanged from March but up 17 million tonnes, or 26%, from the previous year, the U.S.D.A. said. Exports were pegged at 36.75 million tonnes, down 4% from 38.4 million tonnes in March but up slightly from 36.32 million tonnes the previous year. Argentina’s projected soybean production was 51.5 million tonnes, unchanged from March but up 11.4 million tonnes, or 28%, from 40.1 million tonnes in 2011-12. Argentina’s exports were projected at 10.35 million tonnes, down 6% from 10.9 million tonnes in March but up 40% from 7.37 million tonnes in 2011-12.

World rice ending stocks were projected at 103.79 million tonnes for 2012-13, up slightly from 103.32 million tonnes in March but down 1.71 million tonnes, or 2%, from 105.5 million tonnes in 2011-12.
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