Australia got more wheat than estimated by domestic and the USA forecasters. 25.6m tonnes were harvested this year. Moreover, Australian wheat is less expensive than wheat from Black Sea Region and way cheaper than the USA wheat. NowadaysAustralia got more wheat than estimated by domestic and the USA forecasters. 25.6m tonnes were harvested this year. Moreover, Australian wheat is less expensive than wheat from Black Sea Region and way cheaper than the USA wheat. Nowadays, Viterra the largest company that exports wheat from Australia, has started to export wheat from South Australia and the first order to export is 3 million tonnes of wheat.

U.S. wheat supplies for 2011/12 are lowered 30 million bushels this month as higher forecast winter wheat production is more than offset by lower area and production for durum and other spring wheat. Total use for 2011/12 is lowered 30 million bushels, with a reduced outlook for exports more than offsetting an increase in expected feed and residual use. Exports are projected down 50 million bushels with increased competition, particularly from FSU-12 countries(Black Sea Region), where production prospects are raised. Projected feed and residual use is raised 20 million bushels, reflecting a continuation of competitive prices for feed-quality wheat and lower projected corn supplies. Ending stocks are nearly unchanged. The 2011/12 season-average farm price range is projected at $7.00 to $8.20 per bushel, up from last month’s range of $6.60 to $8.00 per bushel supported by higher projected prices for corn. Increased wheat production in FSU-12, India, China, and the EU-27 supports this month’s larger projected world production, trade, and ending stocks. U.S. export prospects are reduced by the strong competition and lower supplies. The US supply reduced by 30 million bushels this month. Exports are projected down 50 m bushels due to high competition from Black Sea Region, Australia and Europe. So, it means that wheat is available at high rate at current market. “Ukraine’s overall grain export potential is at a high level, 22-23 million tons, including wheat, barley, and maize”- said Director of the UkrAgroConsult Analytical Center Serhiy Feofilov predicted at a conference entitled “Black Sea Grain 2011”. All above mentioned should drive the world price for wheat) a bit down. , Viterra the largest company that exports wheat from Australia, has started to export wheat from South Australia and the first order to export is 3 million tonnes of wheat. U.S. wheat supplies for 2011/12 are lowered 30 million bushels this month as higher forecast winter wheat production is more than offset by lower area and production for durum and other spring wheat. Total use for 2011/12 is lowered 30 million bushels, with a reduced outlook for exports more than offsetting an increase in expected feed and residual use. Exports are projected down 50 million bushels with increased competition, particularly from FSU-12 countries(Black Sea Region), where production prospects are raised. Projected feed and residual use is raised 20 million bushels, reflecting a continuation of competitive prices for feed-quality wheat and lower projected corn supplies. Ending stocks are nearly unchanged. The 2011/12 season-average farm price range is projected at $7.00 to $8.20 per bushel, up from last month’s range of $6.60 to $8.00 per bushel supported by higher projected prices for corn. Increased wheat production in FSU-12, India, China, and the EU-27 supports this month’s larger projected world production, trade, and ending stocks. U.S. export prospects are reduced by the strong competition and lower supplies. The US supply reduced by 30 million bushels this month. Exports are projected down 50 m bushels due to high competition from Black Sea Region, Australia and Europe. So, it means that wheat is available at high rate at current market.

“Ukraine’s overall grain export potential is at a high level, 22-23 million tons, including wheat, barley, and maize”- said Director of the UkrAgroConsult Analytical Center Serhiy Feofilov predicted at a conference entitled “Black Sea Grain 2011”.

All above mentioned should drive the world price for wheat) a bit down.