Grain: World Markets and Trade

Transcription

1 Department of Agriculture Foreign Agricultural Service Circular Series FG 11-1 Nov 21 Grain: World Markets and Trade Global Wheat and Coarse Grain Ending Stocks Drop MMT Year-to-Year Change -1 1/2 2/3 3/4 4/ /6 6/7 7/8 8/9 9/1 1/11 Coarse Grains* Wheat* Coarse Grains: Corn, Barley, Sorghum, Oats, Rye, Millet & Mixed Grains *Global ending stocks except In the short-run, prices react to crop shortfalls, but in the long-run, prices will tend to reflect changes in ending stocks as the grain is marketed and utilized. Global wheat and coarse grain stocks (excluding ) are currently forecast to drop significantly, wiping out nearly all the stocks build-up of the past several years. Most of the expected stocks reductions are in key exporter countries. Falling U.S. corn and EU barley account for 8 percent of the global coarse grains stocks decline. Conversely, 6 percent of the reduction in wheat stocks is shared among Russia, Kazakhstan, the EU, and. The combined production shortfalls and dramatic potential stock drawdowns mean a much tighter supply picture than just a few months ago. Consequently, global wheat and corn prices have surged. Some countries have already shifted from higher priced corn to feedquality wheat in livestock rations. Early season reports of good crop prospects in Argentina (barley, corn, sorghum, and wheat) and Australia (sorghum, wheat) have the potential to improve the year-to-year drop in global stocks outlook. Approved by the World Agricultural Outlook Board - USDA

2 TABLE OF CONTENTS World Markets and Trade: Commentary and Current Data Wheat... 4 Rice... 9 Coarse Grains Historical Data Series for Selected Regions and Countries Endnotes to Grain: World Markets and Trade... 3 The Foreign Agricultural Service (FAS) updates its production, supply and distribution database for cotton, oilseeds, and grains at 9 a.m. on the day the World Agricultural Supply and Demand Estimates (WASDE) report is released. It is available on the FAS website ( This circular is released at 1: a.m. on the same day, together with its downloadable data set. Grain: World Markets and Trade, November 21 2

3 All Grain Summary Comparison Wheat Rice, Milled Corn Marketing Year 8/9 9/1 8/9 9/1 8/9 9/1 Production (Jun-May) Other Domestic Consumption (Jun-May) Other Ending Stocks (Jun-May) Other TY Imports (Jun-May) Other TY Exports (Jun-May) Other Note: Consumption in this table has not been adjusted for differences in marketing year imports and exports and therefore differs from global totals shown elsewhere. Marketing years for U.S. grains are: Wheat (Jun-May), Rice (Aug-Jul), Corn (Sep-Aug). 'Marketing Year' column is germane for U.S. wheat only.

4 WHEAT: WORLD MARKETS AND TRADE U.S. Weekly FOB Export Bids $/MT /2/21 7/9/21 7/16/21 7/23/21 7/3/21 8/6/21 8/13/21 8/2/21 8/27/21 9/3/21 9/1//1 9/17/21 9/24/21 HRS SRW SWW HRW 1/1/21 1/8/21 1/1/21 1/22/21 1/29/21 PRICES: Domestic prices: Prices of all classes of wheat increased in the latter half of October due to strong foreign demand for high-quality U.S. wheat and growing concerns over winter wheat conditions. Hard Red Spring (HRS) climbed 11 percent over the past month to $41/ton and Hard Red Winter (HRW) jumped 1 percent to $3/ton. Soft White Wheat is up 7 percent to $29/ton and Soft Red Winter (SRW) increased 8 percent to $29/ton. TRADE CHANGES IN Selected Exporters Argentina is raised 1. million tons to 8. million on larger exportable supplies. is increased 1. million tons to 22. million on the strong pace of export licenses. Kazakhstan is down, tons to 6. million on reduced exportable supplies. Russia is up, tons to 4. million on flour shipments expected to begin in January. Although an export ban on grain is expected to remain in place until July, flour shipments are permitted. Turkey is reduced 1. million tons to 3. million on an expected reduction in flour exports. Grain: World Markets and Trade, November 21 4

5 Selected Importers Azerbaijan is raised 3, tons to 1.3 million on reduced production. is doubled, tons to 1. million on a strong pace of high-quality wheat purchases and imports. Egypt is up, tons to 9.8 million on the brisk pace of imports from the United States and the EU. South Korea is up, tons to 3.6 million on the pace of feed-quality wheat imports from a variety of origins. Turkey is lowered 1. million to 2. million on reduced exportable supplies from Russia and Kazakhstan. Grain: World Markets and Trade, November 21

6 World Wheat, Flour, and Products Trade July/June Year, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Exports 8, 7,,172 8,621 1,228 12,231 Argentina 1, 1, 13,744 13,4 7,449 11,241 Australia 17, 17, 18,974 18,674 16,61 19,278 2, 2, ,83 2,783 22, 21, 22,117 2,319 12,272 13,813 6, 6, 7,871,71 8,181 8,89 Kazakhstan 1, 1, 839 1,46 1, Mexico 4, 3, 18,6 18,393 12,22 1,79 Russia 3, 4, 4,274 2,342 1,763 2, Turkey 6, 6, 9,337 13,37 1,236 3,366 Ukraine 7,7 7,7 8,333 8,434 8,137 6,422 92,77 91,77 11,19 116,1 82,143 9,761 34, 34, 24,17 27,11 34,282 24, ,77 12,77 134, ,21 116,42 11,634 TY Imports 2,3 2,3 2, 3,8 2,3 1, Afghanistan,3,3,167 6,3,94 4,874 Algeria 2, 2, 3,331 2,882 1, 1,731 Bangladesh 6, 6, 6,667 6,762 7,76 7,743 Brazil 9,8 9,3 1,3 9,9 7,7 7,3 Egypt,,,48 7,737 6,933,233,,,364,419,227,61 Indonesia 3,6 3,6 3,97 3,879 3,429 2,892 Iraq 1, 1, 1,862 2,64 1,187 1,494 Israel,,,2,16,71,747 Japan 3,6 3,1 4,47 3,371 3,92 3,439 Korea, South 1,9 1,9 2,91 1,689 1, Libya 3,3 3,3 3,196 3,342 3,136 3,67 Mexico 3,6 3,6 2,34 3,79 4,192 1,82 Morocco 4, 4, 4,79 3, 2,633 3,26 Nigeria 1,6 1,6 1,73 1,38 1,444 1,367 Peru 2,8 2,8 3,18 3,21 2,266 2,74 Philippines 2, 2, Russia 2, 2, 1,91 1, 7 1 Saudi Arabia 1, 1, 1,38 1,472 1, South Africa 1,6 1,6 1,92 1,712 1,6 1,323 Sudan 1, 1, 1,886 1,7 Syria 1,8 1,8 1,34 1,768 2,372 1,43 Tunisia 2, 3, 3,192 3,78 2,192 1,778 Turkey 2,3 2,3 2,62 2,919 2, 2,44 Yemen 37,43 36,63 42,8 47,88 3,86 39,12 121,13 12,33 128, ,883 11,822 19,839 2,622 2,672 2,643 2,919 2,61 2,438 Unaccounted 2,9 2,7 3,18 3,399 2,92 3,37 126,77 12,77 134, ,21 116,42 11,634 TY=Trade Year, see Endnotes.

7 World Wheat Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov Production 13, 12, 1, 1,1 18,6 16,3 Argentina 24, 23, 22, 21,42 13,69 1,822 Australia,1,1,26,88 3,82 2,234 Brazil 22, 22, 26,848 28,611 2,4 2,26 114, 114, 11,12 112,464 19,298 18,466 8,6 8,6 8,23 7,977 8,27 8,274 Egypt 136,28 13,63 138,64 11,122 12, ,87 8,71 8,71 8,68 78,7 7,81 69,3 India 14, 14, 12, 1, 1, 14, Iran 11, 11, 17, 12, 16,4 13,4 Kazakhstan 22,6 22,6 24,33 2,99 23,29 21,277 Pakistan 42, 42, 61,7 63,7 49, 44,9 Russia 17, 17, 18,4 16,8 1, 17, Turkey 17, 17, 2,9 2,9 13,9 14, Ukraine 6, 6, 6, 6, 6,,8 Uzbekistan 47,37 47,64 4,789 43,198 46, 49,83 82,788 8,93 622,333 61,21,364 46,888 6,13 6,14 6,366 68,16,821 49, , , , , ,18 96,1 Total Consumption 8,7 8,7 8, 8,3 8, 7,8 Algeria 6,97 7,2 6,72 6,8 6, 7,6 Australia 1,8 1,8 1,8 1,7 1,3 1,3 Brazil 7,7 7,7 6,9 8,36 6,787 8,986 17,8 1,8 17, 1, 16, 12, 18, 18, 17,9 17, 1,8 1,3 Egypt 123, 123, 12, 127, 116,36 12, 82,43 82,43 78,21 7,924 76,423 73,477 India 16, 16, 16,1 1,8 1, 1,3 Iran 8,3 8,3 8, 7,4 7,22 7, Morocco 24, 24, 23, 22,8 22, 21,7 Pakistan 48, 48, 42, 38,9 37,6 36, Russia 17, 17, 17,1 16,9 16,8 16,6 Turkey 11,6 11,6 12,3 11,9 12,3 11,7 Ukraine 7,4 7,4 7,3 7, 6,8 6, Uzbekistan 13,83 129,78 132,22 12, ,2 12, ,24 63, ,698 68,11 88,68 8,219 32, 32, 3,932 34,293 28,614 3,94 66,79 663,312 62,63 642,34 616, ,19 Ending Stocks 6,111 4,461 4,986 3,88 3,61 3,93 Australia,17,17 7,82 6,47 4,46 6,86 6,14 63,394 4,314 4,692 38,97 38,48,722,222,732 4,818 4,2 4,142 Egypt 1,64 1,97 14,396 18,469 12,429 14,171 14,47 14,47 16,1 13,43,8 4, India 3,869 4,869 11,869 1,61 3,91 3,981 Russia 43,41 42,882 3,63 44,363 42,87 41,38 149,42 11, ,82 147, ,49 117,4 23,8 23,219 26,2 17,867 8,323 12, , 174,662 19,44 16,33 124, ,869

8 Regional Wheat Imports, Production, Consumption, and Stocks Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Imports North America 7,279 6,47 7,128 6,779 6, 6,6 Central America 1,82 1,46 1,489 1,464 1,2 1,2 South America 13,8 13,19 13,161 13,184 13,1 13,1 European Union,233 6,933 7,737,48,, Other Europe 1,48 1,932 1,67 1,698 1,7 1,7 Former Soviet Union - 12,986 6,1 6,2,41 7,7 7,37 Middle East 12,89 11,997 28,46 22,489 18,62 17,62 North Africa 16, 21,742 23,466 21,396 21,9 22, Sub-Saharan Africa 11,431 1,269 13,724 1,761 14,26 14,26 East Asia 11,894 11,277 11,322 13,744 11, 12, South Asia 1,949 8,21 1,747 7,86 6,1 6,1 Southeast Asia 12,377 11,483 12,233 13,89 12,72 12,72 2,636 2,777 2,638 2,7 2,7 2,7 Total 113, ,774 14, , ,3 124,8 Production North America 77,722 79,468 1,627 91,14 86,614 86,23 South America 21,222 2,43 19,616 2,34 2,37 22,297 European Union 124,87 12,133 11, ,64 13,63 136,28 Other Europe 4,313 4,4 4,712 4,69 3,8 3,8 Former Soviet Union ,94 92,447 11,43 113,839 84,6 83,3 Middle East 41,96 4,13 32,34 37,287 38,14 38,14 North Africa 18,76 13,948 14,32 2,231 17, 17, Sub-Saharan Africa,724,47 6,13 6,1,9,9 East Asia 19,669 11,9 113, ,281 11,82 11,82 South Asia 9,881 1,7 13, ,233 19,43 19,43 Oceania 11,99 13,846 21,697 22,777 23,277 24, Total 96,1 611,18 683, , , ,891 Domestic Consumption North America 46,126 4,91 48,329 44,87 46, 46, South America 24,193 24,372 24,28 24,473 24,1 24,83 European Union 12, 116,36 127, 12, 123, 123, Other Europe,27,,9,84,6,6 Former Soviet Union ,1 74,86 76,316 8,3 84,97 84,97 Middle East 1,33,947 2,489 3,67 4,2 4,2 North Africa 34,1 3,674 37,464 39,316 4,4 4,4 Sub-Saharan Africa 16,742 1,678 18,337 2,324 19,873 19,873 East Asia 113, ,6 117, ,82 117,6 12,1 South Asia 1,66 19,488 14,4 114, ,31 118,31 Southeast Asia 11,719 11,9 12,4 13,37 12,66 12,66 Oceania 8,3 7,388 7,72 7,63 8,13 7,8 3,267 3, 3,33 3,333 3,4 3,4 Total 618, ,2 63,77 6,86 66, ,693 Ending Stocks North America 19,69 13,18 24,729 3,144 28,911 28,772 South America 3,62 4,69 3,14 4,42 3,94 4,9 European Union 14,171 12,429 18,469 14,396 1,97 1,64 Other Europe 1,397 1,76 1,88 1,746 1,426 1,426 Former Soviet Union ,11 12,923 2,813 23,37 12,847 11,767 Middle East 12,13 1,7 12,93 1,227 12,11 12,11 North Africa 9,764 9,482 9,497 11,617 1,432 1,932 Sub-Saharan Africa 1,387 1,28 1,886 2,698 2,21 2,21 East Asia 4,846 41,788 48,276 7,337 66,2 62,622 South Asia 8,37 9,727 16,91 21,8 18,1 18,1 Southeast Asia 2,844 2,837 2,738 3,19 2,911 2,9 Oceania 4,224 3,912 3,8,177 4,64 6, Total 129, ,372 16,33 19,44 174, , NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

9 RICE: WORLD MARKETS AND TRADE OVERVIEW Despite weather problems in parts of Asia, record supplies (production plus beginning stocks) are expected to meet rising demand and still leave stocks the second highest since 2/3. PRICES During the first half of this year, Thai and U.S. quotes held together, around $1 per ton above Viet quotes. This situation changed markedly in August when Thai and Viet quotes began to rise, but U.S. quotes stayed down. For the first time ever, U.S. rice spent a few weeks as the lowest-priced option. Then reports of low milling yields began to surface, and U.S. quotes surged past the competition. While quotes for Thai 1 B increased slightly in the last month, quotes for U.S. #2/4 jumped nearly $9 to $88 per ton, FOB. In that time, quotes for % brokens from Vietnam rose around $4 per ton, narrowing the gap with higher quality Thai rice. Vietnam is not making new sales at these prices, however, making Thailand the most competitive option for the first time this year. TRADE CHANGES $/MT Thai Rice Regains Competitiveness as U.S. and Viet Quotes Surge 4/13/21 /4/21 /2/21 6/1/21 7/6/21 7/27/21 8/17/21 9/7/21 9/28/21 1/19/21 11/9/21 US #2/4 Thai 1B Viet % Selected Exporters Thailand is cut, tons to 8. million in 21 on the slower-than-expected pace of the government stock release program. Likewise, 211 is down 3, tons to 9.7 million as competition with Vietnam is expected to constrain exports. is cut 2, tons to 6, in 21 on the slow pace of shipments. Australia is more than tripled to 32, tons on a much larger crop in 211. Pakistan is dropped, tons to 2.7 million in 211 due to the severe flooding that impacted the crop. Grain: World Markets and Trade, November 21 9

10 Burma is lowered 1, tons to, in 211 on a smaller crop. Selected Importers Philippines is cut, tons to 2. million in 211 as the government seeks to limit imports. Bangladesh is raised 2, tons to 7, in 21 as the government is purchasing rice to replenish stocks. is dropped 1, tons to 1.2 million in 21 on the slower-than-expected pace of purchases. Indonesia is up 1, tons to 8, in 21 and up 2, tons to 6, in 211 as the government seeks to boost rice supplies. Turkey is raised 1, tons to a record, in 21 on the pace of imports to date. Grain: World Markets and Trade, November 21 1

11 World Rice Trade January/December Year, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Exports Argentina Australia Brazil Burma , Cambodia , Egypt 1, Guyana India 6,31 3,383 2,123 2, 2, 2, Japan Pakistan 2,696 3, 3,187 3,8 2,8 2,6 Thailand 9,7 1,11 8,7 8, 1, 9,7 Uruguay Vietnam 4,22 4,649,9 6,,8, ,848 26,3 26,236 26,1 26,99 26,73 3,3 3,219 2,983 3,2 3, 3, 31,81 29,749 29,219 29,26 3,4 3,28 TY Imports Bangladesh 1,7 1, Brazil Cote d'ivoire Cuba ,342 1,2 1,383 1, 1,3 1,3 Hong Kong Indonesia 2, Iran 1, 1, 1,47 1,1 1, 1, Iraq ,89 1,1 1,1 1,1 Japan Malaysia 799 1,39 1,7 1,2 1,2 1,2 Mexico Mozambique Nigeria 1, 1,8 2, 1,7 1,9 1,9 Philippines 1,9 2, 2, 2,6 2, 2, Saudi Arabia 961 1,166 1,9 1,1 1,3 1,3 Senegal South Africa Syria Thailand United Arab Emirates Vietnam 4 3 Yemen ,43 8,363 7,671 8,332 8,2 8,34 28,699 27,892 26,149 27,837 27,8 27,64 Unaccounted 2,47 1,26 2,388 1,39 2,7 1, ,81 29,749 29,219 29,26 3,4 3,28 TY=Trade Year, see Endnotes. Note about dates: is calendar year 211, 9/1 is calendar year 21, and so on.

12 World Rice Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov Milled Production Bangladesh 29, 28,8 31, 31, 32,3 32,3 Brazil 7,69 8,199 8,7 7,67 8, 8, Burma 1,6 1,73 1,1 1,97 1,8 1, Cambodia 3,946 4,238 4,2 4,78 4,8 4,8 127, 13, ,33 136,7 136, 136, Egypt 4,383 4,38 4,42 4,3 3,9 3,9 India 93,3 96,69 99,18 89,13 97, 97, Indonesia 3,3 37, 38,3 37,1 38, 38, Japan 7,786 7,93 8,29 7,711 7,8 7,8 Korea, South 4,68 4,48 4,843 4,916 4,71 4,3 Nigeria 2,9 3, 3, 3, 3,6 3,6 Pakistan,4,7 6,9 6,8,3,1 Philippines 9,77 1,479 1,7 9,772 1,8 1, Thailand 18,2 19,8 19,8 2,26 2, 2,3 Vietnam 22,922 24,37 24,393 24, 24,7 24,7 31,39 31,1 33,3 3,72 36,364 36, , , , ,11 444, ,43 6,88 6,149 6, 6,917 7,67 7,397 42, , , ,32 42,41 41,44 Consumption and Residual Bangladesh 29,764 3,747 31, 31,6 32,7 32,7 Brazil 7,92 8,24 8,3 8, 8,6 8, Burma 1,67 1,249 9,648 9,93 1,1 1,1 Cambodia 3,646 3,788 3,77 3,96 3,97 3,97 127, 127,4 133, 134,32 13, 13, Egypt 3,276 3,34 4, 3,9 3,8 3,8 India 86,7 9,466 91,9 8,43 96, 96, Indonesia 3,9 36,3 37,9 37,8 38,3 38, Iran 3,294 3,297 3,32 3,3 3,3 3,3 Japan 8,2 8,177 8,326 8, 8,12 8,12 Korea, South 4,887 4,67 4,788 4,7 4,8 4,8 Nigeria 4, 4,,1,,, Philippines 12, 13,499 13,1 13,3 13,7 13, Thailand 9,78 9,6 9, 1, 9,9 1, Vietnam 18,77 19, 19, 19,1 19, 19,3 47,679 48,2,28 1,79 3,23 3, , ,66 433, ,48 448, ,4 3,99 3,919 3,964 3,861 3,98 4,2 421,33 427,98 437,9 437,319 42,712 42,47 Ending Stocks 3,91 38,1 38,899 4,849 41,279 41,279 India 11,43 13, 19, 2, 19, 19, Indonesia 4,67,67 7,7 7,17 7,27 7,27 Japan 2,46 2,6 2,71 2,726 2,91 2,91 Philippines 4,868 4,418 4,673 3,34 2, 2,34 Thailand 2,1 2,77 4,787 6,647 7,497 7,447 Vietnam 1,392 2,18 1,961 1,61 1,39 1,711 1,629 11,389 11,68 11,434 11,249 1,71 73,77 79,71 9,7 94,219 92,647 92,741 1, ,14 1,638 1,2 74,991 8,628 91,66 9,373 94,28 94,266 Note: All data are reported on a milled basis.

13 Regional Rice Imports, Production, Consumption, and Stocks Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Imports North America 1,643 1,94 1,614 1,8 1,64 1,64 Caribbean 96 1, South America 1,86 1,1 1,113 1,41 1,22 1,2 Other Europe Former Soviet Union Middle East 4,778,646,28,,66,66 North Africa Sub-Saharan Africa 7,844 7,9 7,98 7,62 8,2 8,2 East Asia 2,318 1,612 1,874 1,88 1,94 1,94 South Asia 1,946 2, , Southeast Asia,749 4,64 4,28,1,14 4,89 2,2 2,428 2,19 2,9 2,19 2,11 Total 29,394 28,43 26,831 28,487 28,47 28,3 Production North America 6,266 6,327 6,6 7,9 7,727 7,7 Caribbean ,1 1,1 South America 14,287 1,438 16,194 14,893 1,918 1,92 European Union 1,676 1,77 1,62 1,984 2,6 2,6 Former Soviet Union , 1, 91 1,9 1,192 1, Middle East 2,282 2,41 2,8 2,473 2,8 2,8 North Africa 4,413 4,46 4,423 4,33 3,94 3,94 Sub-Saharan Africa 9,397 9,8 1,988 11,99 12,432 12,432 East Asia 142,661 14,44 1,87 12,218 11,448 11,38 South Asia 133, ,7 142, ,731 14,369 14,169 Southeast Asia 13,778 19, ,26 11, ,1 112, ,2 Total 42, , , ,32 42,41 41,44 Domestic Consumption North America,88,7,4 4,989,14,162 Central America 1,118 1,116 1,13 1,138 1,13 1,148 Caribbean 1,829 1,931 1,791 1,864 1,98 1,98 South America 13,478 14,98 14,61 14,78 14,924 14,873 European Union 2,911 3,18 2,92 3, 3,1 3, Former Soviet Union ,349 1,319 1,23 1,316 1,342 1,37 Middle East 7,38 7,48 7,832 7,889 7,97 8,2 North Africa 3,46 3,636 4,133 4,26 4,1 4,19 Sub-Saharan Africa 17,116 17,6 18,387 19,89 2,633 2,633 East Asia 144, ,31 149,71 1,712 11,41 11,41 South Asia 124, , , ,18 137,84 137,84 Southeast Asia 94,993 97,134 96,64 99,42 1,36 1, Total 418,1 426,226 43,39 43,296 4,61 4,794 Ending Stocks North America 1,377 1,111 1,126 1,32 1,794 1,681 Central America Caribbean South America 2,18 2,1 2,43 1,784 1,68 1,41 European Union 1,138 1,126 1,2 1,18 1,18 1,144 Middle East 1,719 2,44 1,771 1,837 1,742 1,812 North Africa Sub-Saharan Africa 1,21 1, East Asia 39,317 41,37 42,832 4,368 46,2 4,84 South Asia 12,636 14,36 21,393 22,483 2,627 2,777 Southeast Asia 14,426 1,78 19,119 19,788 19,326 19,718 Oceania Total 74,991 8,628 91,66 9,373 94,28 94,266 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

14 OVERVIEW COARSE GRAINS: WORLD MARKETS AND TRADE Global corn imports are forecast down fractionally on reduced imports by the Philippines and South Korea. Regional suppliers such as Serbia and the EU are expected to partially offset the decline in U.S. corn exports. Global corn consumption is raised mostly on greater feed use in. PRICES: Domestic: Through October, U.S. corn export prices rallied over $4/ton to $29/ton, the highest levels since mid-8. Concerns over U.S. corn yields have continued to influence prices. Argentine prices were also sharply higher on strong export demand, even with forecasts for a record crop. Brazilian shipments in September and October were huge despite reports of port congestion and uncompetitive prices. $/MT Mar 19-Mar 2-Apr 19-Feb 16-Apr 3-Apr Corn Weekly Export Bids 14-May 28-May 11-Jun 2-Jun 9-Jul 23-Jul 6-Aug 2-Aug 3-Sep 1-Oct 1-Oct 17-Sep 29-Oct TRADE CHANGES IN Selected Exporters U.S. Gulf Brazil Paranagua Argentina Up River EU corn is doubled to 1. million based on the pace of export licenses. Serbian corn is raised, tons to a record 2. million on large exportable supplies. U.S. corn is cut 1. million tons to. million based on a smaller crop estimate. Australian sorghum is raised 1, tons to 8, due to prospects for a larger crop. Selected Importers South Korean corn is cut 3, tons to 9. million based on greater use of feedquality wheat. Philippine corn is halved to 3, tons because of weak feed grain demand and higher meat imports. Grain: World Markets and Trade, November 21 14

15 EU sorghum is raised 1, tons to 3, based on U.S. sales data and import licenses. TRADE CHANGES IN 9/1 Selected Exporters Large Late-Season Adjustments Reflect Reported Shipments: Brazilian corn boosted 423, tons to 8.6 million Indian corn raised 3, tons to 1.3 million Ukrainian barley up 32, tons to.8 million Selected Importers Large Late-Season Adjustments Reflect Reported Shipments: Egyptian corn boosted, tons to. million Malaysian corn raised 3, tons to 2.8 million Chinese barley raised 241, tons to 2.3 million Saudi barley raised, tons to 7.7 million Grain: World Markets and Trade, November 21 1

16 World Coarse Grain Trade October/September Year, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Exports 17,2 17,2 18,8 1,241 17,786 17,191 Argentina 4,96 4,86 4,48 4,873 3,89 1,99 Australia 9,3 9,3 8,63 7,187 8,32 8,188 Brazil 3,12 3,12 3,2 3,82 6,379 3,787 6,, 4,38 4,338 4,679,463 2,1 2,1 1,2 2,642, India 1,3 1,3 1,393 1,864 1,473 1,981 Paraguay 2,1 2,1 1,1 1, Serbia 2,4 2,4 1,64 2,19 1, South Africa 9,6 9,6 1,842 11,38,99 3,942 Ukraine,42,39 8,173 9,86,81 1,964 63,86 62,73 64,436 9,1 6,,7 4,2,7 4,29 1,8 68,289 9,17 118,11 118,48 118,731 11,68 128, ,714 TY Imports 2,3 2,3 2,4 2,67 2,433 2,88 Algeria 1,4 1,4 1,2 1,497 1,28 1,472 Brazil 1,86 1,86 2,26 1,9 3,187 2,28 1,3 1,3 1,3 1,27 1,969 1,766 Chile 3,7 2,97 3,777 1,61 1,17 1,16 4,6 4,6 4,6 3,483 3,63 3,714 Colombia 1, 1, 1, 973 1,74 1,212 Dominican Republic,43,43,,93 4,182 4,84 Egypt 4,96 4,86 3,4 2,996 19,892 8,738 3,6 3,6,, 3,9 3,6 Iran 1,71 1,81 1,6 1,29 1,776 1,684 Israel 19,17 19,17 19,18 19,611 19,21 19,668 Japan 9,3 9,33 8,496 7,248 9,38 8,797 Korea, South 2,8 2,8 2,8 2,447 3,181 2,363 Malaysia 11,9 11,9 11,1 1,46 11,11 11,4 Mexico 2,3 2, 2,1 1,838 2,18 2,1 Morocco 1,74 1,74 1,64 1,398 1,92 1,646 Peru 1,9 1, Russia 8,8 8,7 9,4 9,286 9,968 7,78 Saudi Arabia 2,3 2,3 2,3 2,834 2,61 2,79 Syria 4,8 4,8 4,7 4,68 4,684 4,43 Taiwan 1,1 1, ,183 1,19 Tunisia ,367 1,139 Turkey 1, 1, 2, 1,34 1,13 34 Venezuela 1,3 1,3 1,6 1,2 7 6 Vietnam 12,991 13,266 14,339 14,37 13,74 13,7 113,11 113,41 113,22 1,69 126,798 11,734 2,934 2,99 3,484 2,242-1,69 1,37 Unaccounted 2,7 2,7 2,22 2,87 3,61 2,6 118,11 118,48 118,731 11,68 128, ,714 TY=Trade Year, see Endnotes.

17 World Coarse Grains Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov Production 31,79 31,79 27,731 19,134 27,118 27,94 Argentina 11,17 1,967 11,67 12,272 12,89 6,83 Australia 3,729 3,729 8,66 3,624 61,344 3,184 Brazil 21,96 21,96 22,477 27,184 27,841 23,14 174,2 173, 164,6 172,41 18,863 19,119 8,92 8,92 8,46 9,34 8,32 7,928 Ethiopia 138, ,222 13, ,8 136, ,421 4,3 4,3 34,16 39,61 4,63 33,81 India 8, 8, 7, 8,7 8, 7,8 Indonesia 32,29 32,29 27,798 32,22 3,77 29,181 Mexico 28,1 28,1 27,99 26,67 24, 26, Nigeria 17,3 18,7 31,81 4,7 29,32 3, Russia 13,3 13,3 14,484 13,84 13,69 7,76 South Africa 1,49 1,49 11,9 1,41 9,48 1,896 Turkey 21,71 21,7 24,12 26,22 14,8 19,17 Ukraine 14,88 141,2 13,21 13, ,61 127,94 72,81 73,189 79,6 783,84 729,883 77, ,39 33,82 349,217 32, , ,998 1,8, 1,88,771 1,18,777 1,19,41 1,79, ,289 Domestic Consumption 11,234 1,734 1,614 8,763 9,67 9,694 Argentina 1,34 1,34,4 48,29 4,279 43,34 Brazil 22,2 22,2 22,24 22,868 24,23 24,2 17,3 168,8 167,3 16,1 16,783 13,496 13,68 13,68 13, 12,162 11,477 11,8 Egypt 11,2 11,8 1,18 11,3 14,1 147,877 37,8 37,8 32,6 36, 3, 32,2 India 19,37 19,37 19,38 19,96 19,46 19,823 Japan 42,69 42,69 41, 42,6 4,23 39,92 Mexico 28,1 28,1 27,7 26, 24, 2,7 Nigeria 2, 21,7 3,79 32,9 28,77 28,4 Russia 9,62 9,2 9,2 9,3 9,4 8,66 Saudi Arabia 1,973 1,973 1,688 1,468 1,18 9,13 South Africa 1,9 1,9 1,8 1,6 1,6 11,61 Turkey 12,96 13, 12,81 13,69 11,93 13,1 Ukraine 23,49 24,4 19,13 194,412 19,41 18,12 819,843 82,28 88,467 82,97 782,84 769,3 34,148 34,147 29,628 27, ,33 242,798 1,123,991 1,124,17 1,14,9 1,78,93 1,6,617 1,12,31 Ending Stocks 2,1 2,21 3,261 3,291 2,674 1,213 Australia 9,889 9,889 13,89 12,412 12,86 3,772 Brazil 3,83 3,83,6 6,3 4,1 3,1 6,944 6,946 4,419 4,144 4,44 38,2 1,739 1,23 24,136 2,831 12,768 1,138 3,671 3,671 2,237,239 4,74 3,26 Mexico,343,343,723 4,312 3,21 1,776 South Africa 38,679 4,46 42,37 4,696 38,48 37,72 13, ,89 1,89 147,27 118,76 14,18 24,8 26,3 48,127 47,6 4,9 36,174 16, , ,17 194,33 163,819 14,692

18 Regional Coarse Grains Imports, Production, Consumption, and Stocks Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Imports North America 1,93 17,88 1,172 1,64 1,89 1,89 Central America 2,96 2,681 2,491 2,7 2,77 2,77 Caribbean 2,227 2,239 2,11 2,1 2, 2, South America 1,181 1,672 9,991 11,17 1,73 1,73 European Union 8,738 19,892 2,996 3,4 4,86 4,96 Former Soviet Union , ,21 2,23 Middle East 18,73 21,884 21,37 21,3 19, 19, North Africa 11,671 1,763 1,97 12,21 11,71 11,73 Sub-Saharan Africa 2,2 2,84 3,69 3,11 2,1 2,1 East Asia 34,13 34,662 33,349 36,338 36,1 36,31 Southeast Asia 4,394 4,746,4 6,26 6,23,93 1, 1, Total 113,339 13,48 18,416 11,247 11,26 11,176 Production North America 332,324 48,279 38,33 399,492 39,76 386,884 South America 92,197 1,741 84,61 97,896 97,443 97,323 European Union 137, , ,8 13, , ,848 Other Europe 11,68 9,37 12,37 11,8 12,31 12,31 Former Soviet Union ,683 4,12 78,7 67,941,361 48,96 Middle East 19,86 17,68 1,9 18,7 19,677 19,677 North Africa 11,211 9,894 1,219 1,423 12,932 12,932 Sub-Saharan Africa 87,26 9,87 9,69 9,964 1,681 1,681 East Asia 161,42 161,3 174,79 16,93 17,12 176,14 South Asia 4,139 47,3 4,748 4,68 46,83 46,83 Southeast Asia 24,271 26,882 27,71 2,98 28,44 28,44 Oceania 7,23 13,42 12,919 12,214 11,614 12,164 3,979 4,4 4,291 4,12 4,32 4,32 Total 987,289 1,79,744 1,19,41 1,18,777 1,88,771 1,8, Domestic Consumption North America 37,22 338,791 34,96 39, , ,368 South America 71,46 74,696 76,298 8,16 82,343 82,783 European Union 147,877 14,1 11,3 1,18 11,8 11,2 Other Europe 11,32 1,423 1,29 1,26 1,731 1,731 Former Soviet Union ,17,12 8,36,7 44,873 43,68 Middle East 37,684 38,289 37,92 37,773 39,23 39,23 North Africa 22,13 21,147 21,192 24,612 2,7 2,9 Sub-Saharan Africa 88,327 88,136 9,624 94,393 99,113 99,113 East Asia 188, , ,849 21,736 24,74 2,769 South Asia 38,847 42,18 42,672 39,138 44,213 44,213 Southeast Asia 27,142 29,476 3,281 3,94 32,69 32,49 Oceania 6,88 7,666 7,897 7,62 7,77 7,87 9,1 9,314 8,93 8,963 9,213 9,213 Total 1,7,627 1,6,34 1,76,21 1,1,449 1,121,277 1,12,883 Ending Stocks North America 43,21 3,89 8,649 6,14 34,4 32,81 South America 9,6 19,628 16,1 17,229 1,8 14,199 European Union 1,138 12,768 2,831 24,136 1,23 1,739 Other Europe 1,23 1,34 2,12 2,281 2,32 1,821 Former Soviet Union - 12,179 4,48 8,618 7,4 4,399 4,173 Middle East 8,41 7,686 7,66 8,463 7,834 7,92 North Africa 3,19 2,462 2,762,41 4,17 4,18 Sub-Saharan Africa,96 7,8 9,1 1,77 11, 11, East Asia 41,82 44,97 7,883 8,23 64,484 64,624 South Asia 1,69 1,749 2,76 1,81 2,136 2,136 Southeast Asia 2,778 3,47 4,447 3,463 3,34 3,463 Oceania 1,31 2,737 3,342 3,314 2,26 2, , Total 14, , ,33 199,17 163,362 16,226 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

19 World Corn Trade October/September Year, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Exports Argentina 1,693 1,676 8,48 16,8 1, 1, Brazil 8,71 7,883 7,178 8,623 9, 9, Burma ,743 1, 1, India 82,77 2,1 1,3 2, 2, Paraguay 1,981 1,461 1,862 1,388 1,3 1,3 Serbia ,467 1, 2, 2, South Africa 431 1,124 2,111 1,6 2, 2, Thailand , 7 7 Ukraine 1,27 2,74,497,,, 7,39 2,817 4,142 3,446 3,22 3,2 37,26 37,62 36,19 42,7 42,12 43,1 4,214 6,663 47,78, 1,, 91,474 98,26 83,93 92,7 93,62 93,1 TY Imports Algeria 2,463 2,166 1,93 2, 2,3 2,3 Brazil 1, ,92 8 1, 1, 2,226 3,117 1,844 2, 1,8 1,8 Chile 1,8 1, ,296 1, 1, Colombia 3,386 3,267 3,68 3,6 3,6 3,6 Cuba Dominican Republic 1,212 1, , 1, 1, Egypt 4,826 4,11,31,,, 7,6 14,16 2,743 2,9 4, 4, Indonesia 1, , 8 8 Iran 3,3 2,9 3,6 4, 3, 3, Israel 1,311 1, , 1,3 1,3 Japan 16,713 16,614 16,33 16, 16,1 16,1 Korea, South 8,731 9,311 7,188 8,461 9,3 9, Malaysia 2,363 3,181 2,447 2,8 2,8 2,8 Mexico 8,944 9,6 7,764 8, 9,1 9,1 Morocco 1,683 1,88 1,66 1,7 1,8 1,8 Peru 1,28 1,469 1,37 1, 1,6 1,6 Russia , 1, Saudi Arabia 1,77 1,961 1,482 1,7 1,7 1,8 Syria 1,729 1,661 1,784 2, 2, 2, Taiwan 4,283 4,27 4,32 4,6 4,7 4,7 Venezuela 34 1,13 1,336 2, 1, 1, Vietnam 6 7 1,2 1,6 1,3 1,3 11,18 11,13 11,93 1,73 1,79 1,49 9,174 99,9 82,121 89,287 91,14 9,64 Unaccounted 981-1,831 1,49 3,2 2,23 2, ,474 98,26 83,93 92,7 93,62 93,1 TY=Trade Year, see Endnotes. The large, negative Unaccounted in 7/8 arises largely from timing differences between declared exports and Japan's and Korea's declared imports.

20 World Corn Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov Production 2, 2, 22, 1, 22,17 22, Argentina 1, 1, 6,1 1, 8,6 1, Brazil 11, 11, 9,61 1,92 11,649 8,99 168, 166, 18, 16,9 12,3 11,6 7, 7, 6,822 6,64 6,174 6,149 Egypt 4,843 4,9 6,876 62,321 47, 3,829 2, 2, 16,68 19,73 18,96 1,1 India 8, 8, 7, 8,7 8, 7,8 Indonesia 24, 24, 21,3 24,226 23,6 22,3 Mexico 8,7 8,7 8,79 7,97 6, 7,8 Nigeria 6,8 6,8 6,231 6,83 7,277 6,231 Philippines 6,8 6,8 6, 6,13 4,4 6,41 Serbia 12, 12, 14, 12,67 13,164 7,3 South Africa 11, 11, 1, 11, 7, 6, Ukraine,,,28 4,432 4,6 4,21 Vietnam 78,49 78,314 74,618 77,161 7,88 68,183,2 497,969 48,627 49, ,438 44, ,22 321, ,11 37, , ,3 818,24 819, , , ,61 713,41 Total Consumption 7, 7, 7,1 6, 7, 6,7 Argentina 48,3 48,3 47, 4, 42, 41, Brazil 12, 12, 11,63 11,663 13,769 11, , 16, 19, 12, 149, 14, 12,6 12,6 12,3 11,1 1, 1,7 Egypt 8, 9, 6, 61, 64, 62,3 17,8 17,8 1, 17, 14, 13,9 India 9, 9, 9, 8,9 8, 8,1 Indonesia 16,1 16,1 16, 16,7 16,6 16, Japan 9,1 9, 8,412 7,894 8,638 8,833 Korea, South 32,1 32,1 31, 32, 32, 3,7 Mexico 8,8 8,8 8,6 7,9 6, 7,6 Nigeria 6,9 7, 6, 7,3 7,1 6, Philippines 1, 1, 1,1 9,9 9,6 8,6 South Africa 6,6 6,6 6,3,, 4,9 Vietnam 12,23 124, , ,167 11,3 11,83 4,76 43,71 31,784 21,82 1,73 497,32 291,66 291,6 281,891 29, ,632 23, ,312 83,36 813,67 781,97 772, ,976 Ending Stocks 9,84 9,84 12,884 12,84 12,79 3,92 Brazil 1,78 1,78 1,78 1,87 1,47 1,337 6,114 6,119 3,314 3,169 39,394 36,62 3,82 3,667 3,99 6,183 4,362 7,382 1,72 1,43 1,92 1,466 2,79 1,322 Korea, South 2,99 2,99 1,89 3,9 4,131 3,84 Mexico,163,163,38 4,113 3,9 1,661 South Africa 23, 24,777 23,724 23,4 22,97 21,97 18,12 19,47 14,78 1,48 9,62 76,9 21,12 22,9 43,374 42,4 41,2 33, , ,37 147,92 147, ,317 11,69

21 Regional Corn Imports, Production, Consumption, and Stocks Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Imports North America 11,489 13,174 9,94 1,8 11,1 11,1 Central America 2,96 2,678 2,491 2,7 2,77 2,77 South America 9,141 9,49 8,48 9,46 9,6 9,6 European Union 7,6 14,16 2,743 2,9 4, 4, Former Soviet Union ,18 1,18 Middle East 1,24 1,116 9,462 1,8 1,32 1,42 North Africa 1,136 9,94 9,74 1,8 1,72 1,72 Sub-Saharan Africa 1,921 1,969 2,94 2,23 1,48 1,48 East Asia 29,84 3,746 28,481 3,487 31,28 3,98 Southeast Asia 4,38 4,71,391 6,2 6,23,93 Caribbean 2,227 2,239 2,11 2,1 2, 2, Total 9,493 1,96 82,48 89,487 91,39 9,89 Production North America 298, , ,96 363,872 37,179 34,22 South America 83,33 9,887 7,69 88,164 86,3 86,3 European Union 3,829 47, 62,321 6,876 4,9 4,843 Other Europe 9,3 7,239 9,96 9,68 1,23 1,23 Former Soviet Union ,871 13,893 21,672 17,84 17,86 18,6 Middle East,663,22 6,248 6,229 6,44 6,44 North Africa 6,31 6,376 6,847 7,24 7,22 7,22 Sub-Saharan Africa 41,27 46,771 48,911 2,84 4,12 4,12 East Asia 13,43 14,9 167,66 19,4 167,69 169,69 South Asia 2,234 24,9 24,78 21,8 2,7 2,7 Central America 2,89 3,28 3,222 3,41 3,188 3,188 Southeast Asia 24, 26,69 27,48 2,673 28,2 28,2 1, 1,2 1,183 1,179 1,179 1,179 Total 713,41 793,61 797, , , ,24 Domestic Consumption North America 272,816 37,41 33,33 324,21 336,2 336,26 South America 63,147 66,412 67,4 7,3 72,1 72,6 European Union 62,3 64, 61, 6, 9, 8, Other Europe 8,99 7,766 7,71 8,9 8,46 8,46 Former Soviet Union ,144 12,97 14,7 12,86 13,7 13,67 Middle East 14,64 1,8 1,8 16,32 17, 17,1 North Africa 16, 1,7 16,12 17,7 18,12 18,12 Sub-Saharan Africa 42, 43,4 48,298 49,877 2,146 2,146 East Asia 176,719 18,3 183,1 189,42 192, 193,7 South Asia 19,29 19,31 22, 2,7 22,92 22,92 Southeast Asia 26,922 29,249 3,43 3,72 32,47 32,27 Central America,8,9,8,8,9,9 3,19 3,46 3,23 3,22 3,33 3,33 Total 724,32 772, ,996 81,1 833,328 83,29 Ending Stocks North America 37,3 46,843 47,92 46,941 27,617 2,729 South America 8,47 18, 14,728 16,277 14,222 12,967 European Union 7,382 4,362 6,183 3,99 3,667 3,82 Other Europe 1,16 1,26 1,784 1,999 2,24 1,24 Former Soviet Union ,727 1,136 1,82 1,347 1,32 1,33 Middle East 3,618 3,168 3,13 3,79 2,948 2,998 North Africa 1,99 1,62 2,221 2,24 2,47 2,47 Sub-Saharan Africa 4,39,918 7,397 9,66 9,777 9,777 East Asia 39,74 43,373 6,283 6,482 63,79 63,216 South Asia 1,2 1,276 1,437 1,27 1,392 1,392 Southeast Asia 2,776 3,47 4,446 3,462 3,344 3,462 Central America Total 11,69 131, , ,92 132,37 129,164 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

22 World Barley Trade October/September Year, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Exports Algeria Argentina 4, 4, 3,7 3,278 3,377 1,927 Australia 1, 1, 1, 1,618 2,947 1, Croatia Egypt 4,6 4,6 2, 2,374 3,888 4, India Kazakhstan Moldova 2 2 2,86 3,98 1,277 1,691 Russia Serbia Turkey 4, 4,,72,871 3,814 2,911 Ukraine ,97 1,97 17,218 18,4 17,693 14, ,17 16,17 17,368 18,198 18,94 14,641 TY Imports Brazil 2, 1,9 2,341 1,1 1,91 1, Colombia , 1, 3 Iran Israel 1,3 1,3 1,3 1,346 1,361 1,39 Japan Jordan Kuwait Libya Morocco Russia 7, 7, 7,7 7,8 8, 6, Saudi Arabia , 9 3 Syria Tunisia 1,22 1,19 1,48 1,463 2,27 1,433 1,2 1,49 16,949 17,369 17,16 14, Unaccounted ,17 16,17 17,368 18,198 18,94 14,641 TY=Trade Year, see Endnotes.

23 World Barley Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov Production 1, 1, 2, Algeria 1,87 1,87 1,36 2,11 1,6 1,33 Argentina 7,9 7,6 8,3 7,997 7,16 4,27 Australia 1, 1,6 1,6 2, 1,7 1,3 Belarus 8,2 8,2 9,17 11,781 1,984 9,73 2, 3,1 2, 2,823 2,78 3,11 1, 1, 1,69 1,484 1,3 1,32 Ethiopia 3,438 3,6 61,49 6,9 7,4 6,22 1,3 1,3 1,69 1, 1,33 1,22 India 3,1 3,1 2,6 2, 3, 2,96 Iran 2,6 2,6 3,8 1, ,3 Morocco 8, 8, 17,9 23,1 1,6 18,1 Russia 1,67 1, Syria,9,9 6,,7 6, 7, Turkey 9, 9, 11,8 12,6 6, 11,3 Ukraine 9,64 9,649 1,71 9,12 1,777 1,21 119,837 12,64 144,642 1,18 128, ,473 3,92 3,96 4,949,23 4,7 3, , ,64 149,91 1, ,99 136,396 Total Consumption 1,4 1,4 1,3 1,1 1,1 9 Algeria 4,4 4,4 4, 4, 3,1 4, Australia 1, 1,6 1,7 2, 1,7 1,6 Belarus 8, 8, 8,4 9,6 7,916 1,19 4,6 4,8 4, 4, 3,9 4, 9, 9,8 6, 7, 4,,7 3, 3, 3, 3,9 3,6 3, Iran 1, 1, 1, 1, 1,6 1,6 Japan 1,42 1,42 1,9 1,6 1,7 1,3 Kazakhstan 3, 3, 2,8 1,7 1,8 2, Morocco 1, 1, 16,8 17,1 1, 16, Russia 7,2 7,2 7,2 7,42 7,43 6,81 Saudi Arabia 1,4 1,4 1, 1,8 1, 1,1 Syria,8,8,9,7 6,1 7,3 Turkey,,,7,9, 6,3 Ukraine 1,63 1,23 1,42 14,44 14,73 14,79 134,889 13,64 138,96 139,3 129, ,638 4,682 4,681 4,64,127 4,324 4,96 139,71 14,28 143,6 144, ,42 143,234 Ending Stocks 1,284 1,284 1, Algeria 1,77 1,47 2,42 2,42 1, Australia 1,483 1,483 2,83 2,843 1,68 1,491 4,366 4,399 14,878 1,916,7, , Morocco 2,3 2,3 2,78 2,23 2,428 2,48 Saudi Arabia Syria 6,42 6,78 8,91 9,88 6,46 7,243 19,32 19,179 34,481 29,33 18,624 19,692 1,867 1,93 2,1 1,932 1,48 1, 21,187 21,82 36,996 3,96 2,19 21,192

24 Regional Barley Imports, Production, Consumption, and Stocks Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Imports North America South America European Union Other Europe Former Soviet Union Middle East 8,278 11,8 11,791 1,37 9,1 9, North Africa 1,21 1, , Sub-Saharan Africa East Asia 2,9 2, 3, 3,791 3,3 3,4 South Asia Oceania Total 14,46 18,228 17,941 17,249 1,79 1,82 Production North America 14,36 16,212 17,822 14,966 12,991 12,96 South America 2,32 2,726 3,14 2,444 3,1 2,98 European Union 6,22 7,4 6,9 61,49 3,6 3,438 Other Europe 1,48 1,412 1,613 1,44 1, 1, Former Soviet Union ,911 27,177 41,32 3,66 21,91 21,681 Middle East 12,479 1,926 8,443 1,48 11,9 11,9 North Africa 3,83 2,493 2,347 7,314 4,64 4,64 Sub-Saharan Africa 1,738 1,733 1,826 1,9 1,78 1,78 East Asia 3,49 3,24 3,3 2,939 3,4 2,84 South Asia 1,742 1,93 1,67 2,297 1,832 1,832 Oceania 4,67 7,6 8,397 8,7 8, 8,3 Total 136, ,99 1, ,91 124,64 123,762 Domestic Consumption North America 1,661 13,4 1,42 13,88 13,431 13,432 South America 2,347 2,627 2,788 3,38 2,88 2,86 European Union,7 4, 7, 6, 9,8 9, Other Europe 1,738 1,64 1,7 1,61 1,49 1,49 Former Soviet Union ,82 24,87 28,489 27,747 2,71 2,1 Middle East 21,439 2,841 2,89 2,2 2,9 2,49 North Africa 4,92 4,32 3,987,67 6,3 6,3 Sub-Saharan Africa 1,79 1,789 1,9 2,4 1,86 1,86 East Asia 6,211,84 6,19 6,4 6,73 6,3 South Asia 1,742 1,6 1,437 2,87 1,812 1,812 Oceania 4, 3, 4, 4,9 4,8 4,8 Total 142,8 134, ,87 143,88 139, ,14 Ending Stocks North America 3,28 3,281,112,23 3,64 3,68 South America European Union,824,7 1,916 14,878 4,399 4,366 Other Europe Former Soviet Union ,686 2,491,42 4,123 2,239 2,13 Middle East 4,88 4,41 4,46 4,824 4,811 4,829 North Africa 1, ,166 2,42 2,426 Sub-Saharan Africa East Asia ,24 1,3 994 South Asia Oceania 1,46 1,698 2,461 2,461 1,11 1,811 Total 21,192 2,19 3,96 36,996 21,82 21,187 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

25 World Sorghum Trade October/September Year, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Exports Argentina 99 1, , 1,3 1,3 Australia , Brazil India Nigeria South Africa ,44 2,17 2,496 2,231 2,26 2,36 4,38 6,664 3,98 4,1 4, 4,,784 8,839 6,94 6,331 6,26 6,36 TY Imports Chile Colombia Ethiopia ,474, Israel Japan 1,276 1,84 1,629 1,7 1,6 1,6 Mexico 1,94 1,16 2,496 2,6 2,7 2,7 Niger Sudan Taiwan ,669 9,9,687 6,273 6,4 6,16 Unaccounted ,784 8,839 6,94 6,331 6,26 6,36 TY=Trade Year, see Endnotes.

26 World Sorghum Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov Production 3,8 3,8 3,629 1,66 2,937 2,79 Argentina 1,9 1,7 1,6 2,69 3,79 1,283 Australia 2, 2, 1,82 1,91 2, 1, Brazil 1,6 1,6 1,22 1,87 1,7 1,16 Burkina 1,7 1,7 1,6 1,837 1,92 2, Egypt 2,6 2,6 2,84 2,619 2,69 2,316 Ethiopia , 7, 6,98 7,31 7,93 7,1 India Mali 7,1 7,1,8 7,67 6,,81 Mexico , Niger 11,7 11,7 11, 11, 1, 1, Nigeria 4, 4, 2,63 4,192 4,, Sudan Tanzania 6,632 6,632 6,194 6,36 6,21 6,398 4,977 4,727 49,48 2,777 3,89,13 8,76 8,66 9,728 11,998 12,636 7,32 63,3 63,293 9,136 64,77 66,44 7,4 Total Consumption 2, 2, 2, 1,1 1, 1,7 Argentina 1,2 1,1 1, 1,8 2,2 1,2 Australia 1,9 1,9 1,9 1,9 1,8 1,37 Brazil 1,6 1,6 1,22 1,87 1,7 1,16 Burkina 1,7 1,7 1,9 2, 2, 2, Egypt 2,6 2,6 2, 2,7 2,6 2,3 Ethiopia ,3 1,28 7, 7, 6,9 7, 7,9 7,1 India 1,6 1,6 1,7 1,6 1,1 1,3 Japan Mali 9,6 9,6 9, 8,6 7, 8,1 Mexico , 1, 82 Niger 11,6 11,6 11,4 1,9 9,9 1,4 Nigeria 4, 4, 3, 4,,, Sudan 8,441 8,416 8,12 8,7 8,19 7,878 8,64 8,44,642 6,162 9,89 4,423 4,73 4,73,849 8,319,81 4,12 63,213 63,13 61,491 64,481 64,89 8,43 Ending Stocks Argentina Australia Brazil India , Mexico Nigeria Sudan 1,7 1, ,461 1,7 1,719 3,412 3,466 3,11,24 4,78 3, ,48 1,39 1, ,399 4,443 4,9 6,414 6,12 4,6

27 Regional Sorghum Imports, Production, Consumption, and Stocks Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Imports North America 1,96 1,17 2,499 2,6 2,7 2,7 South America European Union 1,474, Other Europe Middle East North Africa Sub-Saharan Africa East Asia 1,349 1,196 1,719 1,863 1,7 1,7 Southeast Asia Total,671 9,6,69 6,273 6,4 6,16 Production North America 12,842 18,836 19,6 1,78 1,666 1,676 Central America Caribbean South America,117,661 4,62 6,124 6,732 6,732 European Union Middle East North Africa Sub-Saharan Africa 26,88 2,28 26,3 24,33 27,93 27,93 East Asia 2,191 1,94 1,87 1,67 1,72 1,72 South Asia 7,3 8,81 7,4 7,12 7,64 7,64 Southeast Asia Oceania 1,283 3,79 2,69 1,6 1,7 1,9 Total 7,4 66,44 64,77 9,136 63,293 63,3 Domestic Consumption North America 12,112 12,281 16,919 1,349 14,173 14,173 Central America Caribbean South America 4,19 4,218 4,791,87,967,967 European Union 1,28 6, Middle East North Africa , Sub-Saharan Africa 26,6 2,98 26,941 2,612 27,421 27,421 East Asia 3,47 3,222 3,699 3,7 3,4 3,4 South Asia 7,28 8,3 7,349 7,4 7,64 7,64 Southeast Asia Oceania 1,2 2,2 1,8 1, 1,1 1, Total 7,811 64,839 64,69 61,188 62,774 62,999 Ending Stocks North America 1,31 1,713 2,726 1,334 1,463 1,473 Central America South America 444 1, European Union Middle East North Africa Sub-Saharan Africa 1,681 1,428 1, ,31 1,31 East Asia 1, South Asia Oceania Total 4,6 6,12 6,414 4,9 4,443 4,399 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

28 World Oats Trade October/September Year, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Exports Argentina 2 1 Australia Brazil ,921 2,321 1,792 1, 1,3 1,3 Chile Russia ,146 2,69 2,19 2,6 1,79 1, ,179 2,743 2,147 2,1 1,84 1,84 TY Imports Argentina Bosnia and Herzegovina Colombia Ecuador Japan Mexico Morocco Norway South Africa Switzerland Turkey Uruguay Unaccounted ,794 2,244 1,787 1,6 1, 1, 2,179 2,743 2,147 2,1 1,84 1,84 TY=Trade Year, see Endnotes.

29 World Oats Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov Production Algeria Argentina 1,26 1,26 1,26 1,16 1,2 748 Australia Belarus Brazil 2,3 2,3 2,96 4,273 4,696 3, Chile ,624 7,72 8,18 8,936 8,634 7, Kazakhstan Mexico Norway 3, 4,,,8, 4,9 Russia Turkey Ukraine ,967 2,288 22,44 24,2 24,36 21,486 1,178 1,188 1,31 1,294 1,313 1,37 2,14 21,476 23,791 2,796 2,673 22,843 Total Consumption Algeria Argentina 1,1 1,1 1, 1,3 1,33 71 Australia Belarus Brazil 1,67 1,67 1,73 1,766 1,93 2, Chile ,8 7,9 8,1 8, 8,6 7, Kazakhstan Mexico Norway 3,7 4,6,6,,3 4,9 Russia Turkey Ukraine ,988 2,178 21,227 21,368 21,96 19,962 2,989 2,99 3,11 2,968 3,161 3,179 21,977 23,168 24,238 24,336 2,126 23,141 Ending Stocks Australia Belarus 1 1 1,17 1, , Russia Ukraine ,921 2,3 3,277 3,669 2,461 2, ,166 1, ,611 2,734 4,443 4,89 3,43 2,883

30 Regional Oats Imports, Production, Consumption, and Stocks Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Imports North America 1,873 2,392 1,883 1,71 1,1 1,1 South America European Union 2 4 Other Europe Former Soviet Union Middle East North Africa 14 6 Sub-Saharan Africa East Asia Oceania 3 2 Total 2,144 2,67 2,11 1,987 1,76 1,76 Production North America,361 6,133,71 4,4 3,636 3,626 South America 1,33 1,34 1,133 1,79 1,266 1,226 European Union 7,768 8,634 8,936 8,18 7,72 7,624 Other Europe Former Soviet Union ,296 6,71 7,1 7,9,96 4,96 Middle East North Africa Sub-Saharan Africa East Asia Oceania 823 1,77 1,23 1,33 1,33 1,33 Total 22,843 2,673 2,796 23,791 21,476 2,14 Domestic Consumption North America,74,331 4,944,14 4,91 4,99 South America 1,33 1,326 1,121 1,91 1,26 1,216 European Union 7,647 8,6 8, 8,1 7,9 7,8 Other Europe Former Soviet Union ,266 6,8 7,19 7,28 6,6,16 Middle East North Africa Sub-Saharan Africa East Asia Oceania 78 1,41 1,11 1,12 1,17 1,17 Total 23,223 24,88 24,317 24,22 23,68 21,872 Ending Stocks North America 1,298 1,927 2,7 2,341 1,217 1,28 South America European Union , Other Europe Former Soviet Union Middle East North Africa Sub-Saharan Africa East Asia Oceania Total 2,883 3,43 4,89 4,443 2,734 2,611 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

31 World Rye Trade October/September Year, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov TY Exports Belarus Ukraine TY Imports Croatia Israel Japan Korea, South Norway Russia Switzerland Turkey Unaccounted TY=Trade Year, see Endnotes.

32 World Rye Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 6/7 7/8 8/9 9/1 Oct Nov Production Belarus 1, 1,3 1, 1,7 1, 1, ,41 7,679 9,248 9,412 7,671 7,733 Kazakhstan Russia 3, 3,9 4, 4,3 2, 2,1 Turkey Ukraine 6 1, ,219 14,213 17,117 17,144 12,63 12, ,42 14,373 17,32 17,322 12,72 12,414 Total Consumption Argentina Belarus 1, 1, 1, 1,6 1,1 1, , 7,3 8,7 8,9 8,6 8,7 Japan Kazakhstan 47 2 Norway Russia 2,9 3,7 4, 4,32 2,9 2, Turkey Ukraine ,87 13,673 16,141 16,48 14,28 13, ,924 14,8 16,433 16,78 14,6 14,26 Ending Stocks Belarus ,13 1,46 1, Japan Russia Turkey Ukraine ,224 1,91 2,47 3,28 1,231 1, ,236 1,61 2,488 3,2 1,2 1,26