Grain: World Markets and Trade

Department of Agriculture Foreign Agricultural Service Circular Series FG 11-6 November 6 Grain: World Markets and Trade Tightening World Grain Supplies Push Prices to Decade-High Levels Global Grain Stocks Decline -2 Wheat Sorghum -2 + $2 Barley -3 Corn Prices Soar From Last Year % (Year to Year Change) $/Ton (Year to Year Change) FOB U.S. - Sorghum + $6 U.S. Corn EU U.S. HRW -1 Barley Wheat -1 + $4-3 $ *Oct Avg vs. Oct 6 Short crops around the world this year, combined with strengthening demand, are shrinking global grain stocks and causing prices to soar to the highest levels in a decade. Wheat prices have climbed as exportable supplies are sharply down in key Northern Hemisphere exporters such as the, Black Sea region, and the European Union. This tightness has been exacerbated by a severe crop shortfall in Australia and strong import demand in India. Surging corn prices are being driven by a smaller U.S. crop and strong demand for use in ethanol and exports. Barley prices have also jumped to decade highs as a result of sharply lower exportable supplies in Australia--the largest exporter the past 3 years--as well as strengthening feed demand in light of poor wheat crops. Sorghum prices are also strong as U.S. production has fallen to the lowest level in 6 years, and this is curtailing export availability. Approved by the World Agricultural Outlook Board - USDA

TABLE OF CONTENTS World Markets and Trade: Commentary and Current Data Wheat... 4 Rice... 1 Coarse Grains... 1 Historical Data Series for Selected Regions and Countries... 38 Endnotes to Grain: World Markets and Trade... 63 Circular Modifications: FAS released a new version of PSD Online on August 31, 26. It retains all of the ease-of-use and functionality of the current version, while incorporating some new features. It is available on the FAS website (http://www.fas.usda.gov/psdonline/). The new system allowed us to overhaul this Circular so readers may have noticed a new look during the past few months. This revised format will be "in transition" over the next several months, as we make use of the expanded capabilities of the new PSD system. The circular will also now be released earlier at noon. Your comments on the new Circular will be welcome and can be sent to gfd@usda.gov. We thank you in advance for your patience over the next few months. Grain: World Markets and Trade, November 26 2

All Grain Summary Comparison Wheat Rice, Milled Corn Marketing Year 24/ 2/6 24/ 2/6 24/ 2/6 Production (Jun-May) 8.7 7.3 49.3 7. 7.1 6.1 299.9 282.3 272.9 Other 7.1 61.6 37. 393. 48.3 41.4 412.9 411. 41.8 628.8 618.9 86.8 4. 41. 416. 712.8 693.3 688.7 Domestic Consumption (Jun-May) 31.8 31.2 31.2 3.9 3.8 3.9 224.6 231.6 243.6 Other 77. 87. 84.9 41.7 48. 412.4 49.2 468.3 477.3 68.8 618.2 616.1 4.7 411.8 416.3 683.9 699.9 72.9 Ending Stocks (Jun-May) 14.7 1. 11.4 1.2 1.4 1.1 3.7.1 23.8 Other 136.7 131. 17.4 76.9 79.2 77.7 77. 74. 66.2 11.4 147.1 118.8 78.1 8.6 78.8 131.2 124. 9. TY Imports (Jun-May) 1.9 2.3 2.8.4.6.6.3.3.3 Other 18.2 18.6 16.8 26. 2.7 2. 76. 79. 78.6 11.1 11.9 19.6 26.9 26.3 26.2 76.3 79.7 78.8 TY Exports (Jun-May) 28. 27.4 26. 3.9 3.7 3. 4.3 6.2. Other 84.6 86.2 8.9 2.1 24.3 2. 31.1 26. 2. 113.1 113.7 111.9 29. 28. 28. 76. 82.7 8. Note: Consumption in this table has not been adjusted for differences in marketing year imports and exports differs from global totals shown elsewhere. Marketing years for U.S. grains are: Wheat (Jun-May), Rice (Aug-Jul), Corn (Sep-Aug).

WHEAT: WORLD MARKETS AND TRADE MONTHLY HIGHLIGHTS: Brazil Expected To Be Largest Importer in : Brazil is expected to surpass Egypt and the European Union this year and return as the world s largest import market for the first time since 2/1. Production has fallen to only half of last year s level as the crop has been severely hit by a combination of drought and frosts at the end of August and beginning of September. This crop shortfall will lead to higher import demand, and could result in greater wheat needing to be sourced from countries outside South America. Last year 91 percent of Brazilian imports were sourced from Argentina, and 7 percent from Paraguay. MMT 8 6 4 2 Brazilian Imports Jump Production Imports PRICES: Domestic: For October, wheat prices climbed for all classes, and continued to set 1-year highs. The main catalyst for higher prices has been severe drought in Australia, which has slashed production by more than half and is exacerbating already tight global exportable supplies. For the month, Soft Red Winter (SRW) prices rose $22 per ton, Soft White (SWW) prices rose $17, Hard Red Winter (HRW) rose $12, and Hard Red Spring (HRS) prices rose $8. U.S. Weekly FOB Export Bids 23 22 21 2 19 $/MT 18 17 16 1 14 13 8/4 8/11 8/18 8/2 9/1 9/8 9/1 9/22 9/29 1/6 1/13 1/2 1/27 U.S. No.1 HRW 11% (Gulf) U.S. No.2 SRW (Gulf) U.S. No.1 SWW (P NW) US No.1 DNS 14% (PNW) Grain: World Markets and Trade, November 26 4

TRADE CHANGES IN 26/27 Selected Exporters Australia is down 1. million tons to 12. million as the drought-ravaged crop continues to shrink. Additionally, poor pasture conditions are expected to result in greater wheat feeding, further reducing supplies available for export. Russia is up 1. million tons to 8. million as production is raised and export prices remain very attractive. Ukraine is down, tons to 3. million as government export policies have reduced shipments. China is up, tons to 2. million on strong sales of feed-quality wheat to Asian markets. Romania is up 1, tons to 4, as the crop estimate is raised and greater exports are expected to the EU. Selected Importers Brazil is up 3, tons to 7.3 million on sharply lower production. Iraq is down, tons to 3. million on slow purchases to date. Nigeria is down 3, tons to 3.6 million. The combination of high wheat prices and lower prices of other local staples (due to bumper harvests) are curtailing wheat consumption growth this year. Grain: World Markets and Trade, November 26

World Wheat, Flour, and Products Trade July/June Year, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Exports Argentina 6,276 7,346 13,2 8,31 9, 9, Australia 1,946 1,96 1,826 1,213 13, 12, Bulgaria 1,17 4 1,1 1,2 1, 1, Canada 9,393 1,26 1,142 1,644 2, 2, China, Peoples Republic of 1,718 2,824 1,171 1,397 2, 2, 19,94 1,931 14,367 1,32 16, 16, Kazakhstan, Republic of 6,238 4,11 2,7 3,,, Russian Federation 12,621 3,114 7,91 1,664 7, 8, Turkey 839 84 2,217 2,9 2, 2, Ukraine 6,69 66 4,31 6,461 4, 3, 11,6 12,32 6,318 6,43,79,94 87,32 72,227 84,64 86,247 8,79 8,94 22,834 32,29 28,464 27,424 26, 26, 11,136 14,22 113,19 113,671 111,79 111,94 TY Imports Algeria 6,79 3,933,398, 4,8 4,8 Bangladesh 1,33 1,94 2,9 2,1 2,1 2,1 Brazil 6,631,9,39 6,194 7, 7,3 Colombia 1,166 1,246 1,248 1,314 1,3 1,3 Egypt 6,327 7,29 8,1 7,771 7, 7, 13,921,912 7,393 7,69 6,8 6,8 India 19 8 14 118 6, 6, Indonesia 3,984 4,3 4,661, 4,8 4,8 Iraq 1,79 1,92 3,1 4,8 4, 3, Israel 1,691 91 1,49 1,6 1,2 1,2 Japan,79,71,744,469,, Korea, Republic of 4,2 3,434 3,91 3,884 3,6 3,6 Libya 1,421 1,7 1,8 1,7 1, 1, Malaysia 1,19 1,329 1,412 1,216 1,3 1,3 Mexico 3,161 3,644 3,717 3,49 3,6 3,6 Morocco 2,72 2,414 2,272 2,418 1,9 1,9 Nigeria 2,34 2,383 3,14 3,66 3,9 3,6 Peru 1,17 1,488 1,449 1,66 1, 1, Philippines 3,23 2,97 2,93 2,94 2,7 2,7 Russian Federation 1,4 1,26 1,197 1,282 1,2 1,2 Sudan 86 99 1,22 1,69 1,6 1,6 Thailand 89 1,139 1,81 1,174 1,2 1,2 Venezuela 961 1,38 1,4 1,691 1,6 1,6 Vietnam 87 83 1,226 1,181 1,3 1,3 Yemen 1,772 1,63 1,83 2,2 1,9 1,9 31,814 3,29 3,768 3,921 27,94 27,92 1,773 99,976 18,192 18,616 17,34 16,82 Unaccounted 2,4 2,786 2,971 2,746 1,64 2,32 1,98 1,76 1,946 2,39 2,8 2,8 11,136 14,22 113,19 113,671 111,79 111,94

World Wheat Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov Production Argentina 12,3 14, 16, 13, 13,2 13,2 Australia 1,132 26,132 22,6 24, 11, 1, Canada 16,198 23,2 2,86 26,77 26,3 26,3 China, Peoples Republic of 9,29 86,49 91,9 97,4 13, 13, Egypt 6,3 6,443 7,177 8,184 8,2 8,2 124,829 16,878 136,774 122,638 117,887 117,237 India 71,81 6,1 72,1 68,64 68, 68, Iran 12,4 13, 14, 14, 14, 14, Kazakhstan, Republic of 12,6 11, 9,9 11, 11, 11, Morocco 3,37,147,4 3,43 6,1 6,1 Pakistan 18,227 19,183 19, 21, 21,7 21,7 Russian Federation, 34,1 4,4 47,7 41, 43, Turkey 16,8 16,8 18, 18, 18, 18, Ukraine 2,6 3,6 17, 18,7 13, 14,3 Uzbekistan, Republic of,,4, 6,,8,8 2,39 2,96 61,76 9,961,89,6 23,938 49,781 7,17 61,641 3,826 37,492 43,7 63,814 8,738 7,28 49,316 49,316 67,643 4,9 628,84 618,921 8,142 86,88 Total Consumption Algeria 6,6 6,8 7,3 7, 7,7 7,7 Australia 6,178,96 6,2 6,4 6,4 6,9 Brazil 9,89 9,8 1,2 1,8 1,6 1,4 Canada 8,181 7,637 9,3 9,133 9,1 9,1 China, Peoples Republic of 1,2 14, 12, 11, 11, 11, Egypt 12,8 13,3 14,2 14,8 1,6 1,6 118,1 17,9 11,2 119, 116, 116, India 74,294 68,28 72,838 69,971 72, 72, Iran 14,3 14,3 14, 14,8 1,2 1,2 Kazakhstan, Republic of 6,8 6,8 7,4 7,4 7,6 7,6 Morocco 6,22 6,4 6,9 7,1 7,4 7,4 Pakistan 18,38 19,1 2, 21, 22, 22, Russian Federation 39,32 3, 37,4 38,4 36,4 36,9 Turkey 16,8 16,8 16,8 16,1 16,8 16,8 Ukraine 14, 9,2 11,7 12, 1,6 11,2 11,388 116,6 12,22 13,71 128,71 128,647 73,311,971 78,294 92,71 81,912 83,883 3,448 32,7 31,823 31,191 31,163 31,163 63,79 88,478 61,117 623,262 613,7 61,46 Ending Stocks Algeria 2,712 2,814 3,6 3,71 3,396 3,396 Canada,72 6,8 7,922 9,743 6,693 6,693 China, Peoples Republic of 6,378 43,293 38,819 34,89 36,9 3,9 Egypt 1,316 1,744 2,861 4,6 3,2 3,96 16,643 1,62 2,22 2,917 13,627 12,94 Kazakhstan, Republic of 3,673 3,777 3,642 4,283 3,27 3,198 Syria,72,212,22,483,32,233 7,669 44,28 49,4 48,498 36,78 36,786 13,188 117,87 136,78 131,21 17,918 17,446 13,374 14,872 14,699 1,4 11,382 11,382 166,62 132,679 11,47 147,66 119,3 118,828

Regional Wheat Imports, Production, Consumption, and Stocks Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Imports North America,1,63,91 6,136 6,6 6,6 Central America 1,381 1, 1,1 1,6 1,7 1,7 Caribbean 1,774 1,839 2,34 1,926 1,9 1,9 South America 11,394 11,27 1,826 12,687 12,94 13,24 European Union 13,921,912 7,393 7,69 6,8 6,8 Other Europe 1,971 4,229 1,836 1,91 1, 1, Former Soviet Union - 12 4,61 7,26 4,66 4,74 4,4 4,4 Middle East 11,7 8,813 1,22 13,168 11,42 1,92 North Africa 18,714 1,48 18,47 18,89 16,4 16,4 Sub-Saharan Africa 9,63 9,713 12,91 13,21 12,2 12,2 East Asia 12,236 1,32 18,37 12,83 12, 12, South Asia 3,69 3,8 4,832 4,46 9,88 9,88 Southeast Asia 1,663 11,177 11,429 11,942 11,77 11,77 Oceania 896 648 74 71 68 68 Total 17,731 11,736 11,138 11,92 11,14 19,62 Production North America 63,133 9,66 87,18 87,7 78,716 78,716 Central America 1 1 1 1 1 1 Caribbean South America 17,93 23,632 2,261 2,949 19,273 18,773 European Union 124,829 16,878 136,774 122,638 117,887 117,237 Other Europe 12,642 7,64 1,38 13,198 11,6 12, Former Soviet Union - 12 96,949 6,91 86,83 92,19 79,88 82,68 Middle East 37,991 39,486 41,463 42,2 41,3 41,3 North Africa 11,74 16,28 17,166 1,178 18,32 18,32 Sub-Saharan Africa,19 4,497 4,919,7,98 6,1 East Asia 91,468 87,7 93,193 98,724 14,79 14,79 South Asia 9,33 9,966 97,696 96,3 9,9 9,9 Southeast Asia 96 17 13 1 148 148 Oceania 1,434 26,43 22,86 24,793 11,277 1,777 Total 67,643 4,9 628,84 618,921 8,142 86,88 Domestic Consumption North America 44,29 46,44 47,123 46,424 46,463 46,463 Central America 1,221 1,34 1,41 1,48 1,476 1,476 Caribbean 1,774 1,839 2,34 1,926 1,9 1,9 South America 22,3 23,24 23,493 24,461 24,2 23,82 European Union 118,1 17,9 11,2 119, 116, 116, Other Europe 13,39 12,87 14,128 13, 12,93 13,3 Former Soviet Union - 12 7,3 6,874 72,93 7,29 71,3 72,4 Middle East 46,71 46,78 48,98 49,973,73,73 North Africa 29,666 3,82 32,83 33,77 3,12 3,12 Sub-Saharan Africa 13,894 14,73 16,24 18,22 18,34 18,86 East Asia 117,77 116,39 114,61 113,7 113,11 113,16 South Asia 11,32 96,891 12,188 11,91 14,24 14,2 Southeast Asia 1,44 1,438 11,29 11,677 11,818 11,818 Oceania 7,83 6,831 7,122 7,341 7,2 7,7 Total 63,499 81,183 68,783 618,166 614,814 616,11 Ending Stocks North America 19,849 21,69 22,997 2,6 18,387 18,387 Central America 19 18 18 18 18 18 Caribbean 2 2 2 2 2 2 South America 3,17 2,992 2,86 2,862 1,888 1,93 European Union 16,643 1,62 2,22 2,917 13,627 12,94 Other Europe 3,33 2,11 3,949 3,267 2,12 2,22 Former Soviet Union - 12 16,48 1,986 14,26 1,64 11,439 12,679 Middle East 13,37 12,487 12,2 12,144 11,24 1,934 North Africa,99 7,467 1,24 1,22 9,368 9,47 Sub-Saharan Africa 1,8 1,18 1,234 1,393 1,346 1,183 East Asia 63,218 46,249 41,934 37,916 38,961 38,461 South Asia 17,91 9,2 7,21,72 6,31 6,2 Southeast Asia 1,72 2,3 2,2 2,8 1,617 1,633 Oceania 3,328,48 7,26 9,443 2,62 2,62 Total 166,62 132,679 11,47 147,66 119,3 118,828

22/3 23/4 24/ 2/6 Oct Nov NOTES: Regional definitions appear on last page of this circular. Imports are reported on an international year basis. All other data are reported using marketing years.

PRICES: International: Export prices in Thailand weaken under pressure from the Government s lower announced intervention prices and plans to sell off 3.7 million tons of intervention stocks. Conversely, Viet % is currently quoted at $287 per ton, FOB, up $16 due to tight supplies. RICE: WORLD MARKETS AND TRADE 47 42 37 32 27 22 Domestic: U.S. #2/4 long grain milled rice is up slightly from last month at $434 per ton, FOB. The spread between comparable 17 12 qualities of Thai and U.S. rice is $14 per ton compared 7 to $33 per ton this time last year. The last time U.S. prices were at $434 was in June of 1998. The spread then was $12. U.S. medium grain prices remain unchanged with quotes at $2 per ton, FOB. 7/9/2 Nominal Rice Quotes 22 to Present 12/9/3 /17/ Thai 1B US #2/4 Viet % 11/7/6 TRADE CHANGES FOR 27 Selected Exporters Burma is down 1, to 1, on the expectation of tighter exportable supply. TRADE CHANGES FOR 26 Selected Exporters China is up 1, to 1.1 million based on strong export pace. Grain: World Markets and Trade, November 26 1

World Rice Trade January/December Year, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Exports Argentina 17 249 34 4 4 4 Australia 141 131 2 3 1 1 Brazil 19 37 272 2 1 1 Burma, Union of 388 13 19 7 2 1 Cambodia 1 3 2 3 4 4 China, Peoples Republic of 2,83 88 66 1,1 1, 1, Egypt 79 826 1,9 1, 9 9 22 187 21 17 1 1 Guyana 2 243 182 17 17 17 India 4,421 3,172 4,687 3,8 4,3 4,3 Japan 2 2 2 2 2 2 Pakistan 1,98 1,986 3,32 3, 2,9 2,9 Thailand 7,2 1,137 7,274 7,3 8,2 8,2 Uruguay 67 84 762 7 7 7 Vietnam 3,79 4,29,174, 4,7 4,7 83 17 82 421 36 36 23,741 24,94 2,147 24,291 2,8 24,98 3,834 3,9 3,862 3,7 3, 3, 27,7 27,184 29,9 27,991 28,8 27,98 TY Imports Bangladesh 1,112 81 78 7 6 6 Brazil 1,63 762 47 6 7 Canada 242 28 321 33 3 3 China, Peoples Republic of 28 1,122 69 7 8 8 Cote d'ivoire 7 74 867 8 8 8 Cuba 371 639 736 6 7 7 9 1,79 968 92 92 92 Ghana 37 42 4 4 4 4 Haiti 34 269 328 4 3 3 Hong Kong 37 39 31 31 31 31 Indonesia 2,7 6 9 6 6 Iran 9 9 983 1,2 9 9 Iraq 672 889 786 1,2 1,2 1,2 Japan 64 76 787 6 6 6 Korea, Democratic 633 46 6 3 Malaysia 7 71 8 77 8 Mexico 82 21 3 6 6 6 Mozambique 232 37 3 3 3 3 Nigeria 1,448 1,369 1,777 1,6 1,7 1,7 Philippines 1,3 1,1 1,89 1,9 1,6 1,6 Russian Federation 38 3 3 37 37 37 Saudi Arabia 1,1 1, 1,37 1, 1, 1, Senegal 7 8 1,2 7 8 8 Singapore 37 346 37 37 37 37 South Africa, Republic of 72 818 8 8 8 8 6,33 6,81 7,491 7,36 7,16 7,16 2,141 24,83 26,26 2,661 2,371 2,46 Unaccounted 1,976 1,872 2,64 1,73 2,124 1,814 48 477 419 6 9 62 27,7 27,184 29,9 27,991 28,8 27,98 Note about dates: is calendar year 27, 2/6 is calendar year 26, and so on.

World Rice Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov Milled Production Bangladesh 2,187 26,12 2,6 28,78 29,1 29,1 Brazil 7, 8,79 8,996 7,874 8, 7,9 Burma, Union of 1,788 1,73 9,7 1,44 1,7 1, Cambodia 2,4 2,96 2,33 2,83 3,2 3,2 China, Peoples Republic of 122,18 112,462 12,363 126,414 128, 128, Egypt 3,7 3,9 4,128 4,13 4,14 4,14 India 71,82 88,3 83,13 91,4 91, 91, Indonesia 33,411 3,24 34,83 34,99 3,88 3,88 Japan 8,89 7,91 7,944 8,27 7,94 7,94 Korea, Republic of 4,927 4,41, 4,768 4,6 4,636 Nigeria 2,2 2,2 2,3 2,7 2,8 2,8 Pakistan 4,479 4,848 4,92,47,6,6 Philippines 8,4 9,2 9,42 9,8 9,7 9,7 Thailand 17,198 18,11 17,36 18,2 18, 18,2 Vietnam 21,27 22,82 22,716 22, 22,36 22,36 27,8 29,19 29,413 3,618 3,1 3,121 37,969 38,369 393,2 48,34 411,344 41,386 6,36 6,42 7,462 7,113 6,1 6,137 377, 391,789 4,487 41,43 417,449 416,23 Total Consumption Bangladesh 26,1 26,7 26,9 29, 29,7 29,7 Brazil 8,1 8,687 8,86 8,974 9,2 8,9 Burma, Union of 1,1 1,2 1,3 1,4 1, 1, China, Peoples Republic of 13,7 132,1 13,3 128, 127,8 127,8 Egypt 3,2 3,22 3,2 3,27 3,3 3,3 India 79,86 8,63 8,743 8,22 87, 87, Indonesia 36, 36, 3,8 3,8 3,8 3,8 Iran 3,7 3,1 3,12 3,17 3,22 3,22 Japan 8,742 8,37 8,3 8,2 8,2 8,2 Korea, Republic of,33 4,613 4,862 4,83 4,841 4,841 Nepal 2,7 2,983 2,867 2,818 2,81 2,81 Nigeria 3,7 4, 4,2 4,3 4,4 4,4 Philippines 9, 1,2 1,4 11, 11,2 11,2 Thailand 9,46 9,47 9,48 9, 9,7 9,7 Vietnam 17, 17,8 18, 18,2 18, 18, 41,941 43,72 44,24 4,18 4,887 4,93 43,836 49,261 43,8 49,26 414,99 414,38 3,34 3,66 3,93 3,89 3,94 3,9 47,37 412,917 47,74 413,1 418,894 418,263 Ending Stocks China, Peoples Republic of 63,311 43,91 38,931 36,94 37,4 36,94 India 11, 1,8 8, 1,2 9,72 9,72 Indonesia 4,344 4,18 3,448 3,7 3,39 3,39 Japan 2,466 1,7 1,919 2,426 2,616 2,616 Philippines 3,87 4,47 4,72,272,22,22 Thailand 3,32 1,76 2,312 3,762 4,42 4,292 Vietnam 4,6 4,32 4,164 3,264 3,118 2,9 13,398 14,14 13,84 13,13 11,81 12,3 1,693 84,633 76,93 79,29 77,773 77,74 829 761 1,211 1,37 1,62 1,94 16,22 8,394 78,141 8,79 78,83 78,839 Note: All data are reported on a milled basis.

Regional Rice Imports, Production, Consumption, and Stocks Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Imports North America 1,282 1,283 1,293 1,3 1,4 1,7 Central America 416 463 31 48 Caribbean 82 1,84 1,213 1,21 1,2 1,2 South America 1,449 1,111 966 88 1, 1,1 European Union 9 1,79 968 92 92 92 Other Europe 29 23 22 22 2 2 Former Soviet Union - 12 4 26 26 1 1 1 Middle East 3,97 4,1 4,48 4,63 4,43 4,43 North Africa 238 22 261 22 22 22 Sub-Saharan Africa 6,91 7,244 8,383 7,13 7, 7, East Asia 2,166 2,948 2,6 2,6 2,6 2,6 South Asia 1,31 1,169 1,1 1,1 91 91 Southeast Asia,63 3,22 4,236 4,66 4,3 4,11 Oceania 244 238 26 22 22 22 Total 2,99 2,312 26,94 26,261 2,961 26,171 Production North America 6,669 6,62 7,67 7,294 6,286 6,318 Central America 74 3 466 7 11 11 Caribbean 86 838 666 736 73 73 South America 12,614 14,667 1,346 14,162 14,6 14, European Union 1,731 1,728 1,864 1,71 1,674 1,69 Other Europe 1 21 22 21 2 2 Former Soviet Union - 12 69 846 774 84 894 969 Middle East 2,11 2,483 2,611 2,737 2,83 2,83 North Africa 3,746 3,941 4,169 4,171 4,181 4,181 Sub-Saharan Africa 7,2 7,314 7,77 8,67 8,67 8,716 East Asia 137,917 126,628 14,88 142,72 143,184 143,17 South Asia 16,6 124,689 118,781 13,48 13,9 13,9 Southeast Asia 96,639 11,66 99,267 11,23 12,61 12,16 Oceania 313 39 231 749 286 286 Total 377, 391,789 4,487 41,43 417,449 416,23 Domestic Consumption North America 4,476 4,666,6 4,919,4, Central America 9 976 1,2 1,6 1,63 1,63 Caribbean 1,61 1,877 1,87 1,8 1,97 1,97 South America 12,876 13,3 13,837 14,97 14,468 14,168 European Union 2,97 2,9 2,29 2, 2,6 2,6 Other Europe 224 236 227 231 23 23 Former Soviet Union - 12 1,231 1,434 1,34 1,37 1,36 1,36 Middle East 6,694 6,697 6,62 6,997 7,17 7,17 North Africa 3,429 3,491 3,2 3,41 3,66 3,66 Sub-Saharan Africa 14,14 1,16 1,816 16,169 16,332 16,4 East Asia 13,1 148,44 147,42 144,443 144,36 144,36 South Asia 113,8 12,469 11,642 122,244 12,37 12,37 Southeast Asia 89,449 9,493 9,97 91,81 92,46 92,21 Oceania 3 4 4 Total 44,9 41,393 4,667 411,832 416,42 416,286 Ending Stocks North America 998 94 1,38 1, 1,223 1,2 Central America 41 441 383 332 27 27 Caribbean 22 17 26 168 193 193 South America 2,17 3,1 3,6 2,97 2,96 2,362 European Union 96 974 1,134 1,44 893 878 Other Europe 4 4 6 6 6 Former Soviet Union - 12 38 191 117 132 192 267 Middle East 1,299 1,17 1,719 2,46 2,482 2,482 North Africa 87 719 2 37 297 297 Sub-Saharan Africa 2,78 2,297 2,12 2,7 1,73 1,78 East Asia 67,47 46,764 42, 4,649 4,882 4,768 South Asia 11,848 12,189 8,933 11,3 1,693 1,793 Southeast Asia 17,7 1,92 1,2 16,88 17,2 17,184 Oceania 632 412 11 317 317 Total 16,22 8,394 78,141 8,79 78,83 78,839

22/3 23/4 24/ 2/6 Oct Nov NOTES: Regional definitions appear on last page of this circular. Imports are reported on an international year basis. All other data are reported using marketing years.

COARSE GRAINS: WORLD MARKETS AND TRADE PRICES: Domestic: October export bids for #2 yellow corn soared by over $2 per ton to $142, the highest in over 1 years. The escalation results from expanding domestic demand, strong exports, and high wheat prices. 1 14 13 U.S. Gulf Export Bids TRADE CHANGES IN 26/27 Selected Exporters corn is down 1. million tons to. million due to reduced production and high prices. Australia barley is lowered 3, tons to 2.7 million as production is expected to fall to less than half last year s level. $/MT 12 11 1 9 8 Sep-3 Dec-3 Mar-4 Jun-4 Sep-4 Dec-4 Mar- Jun- Sep- Dec- Sorghum (Texas Gulf) Mar-6 Jun-6 Sep-6 Corn Brazil corn is raised 1. million tons this month to 3. million because of high international prices and a reduction in the U.S. crop. Russia barley is raised 3, tons to 2. million on higher production and less competition from Ukraine. Ukraine barley is lowered, tons to 4.7 million as government export policy has reduced shipments in recent months. Selected Importers South Korea corn is down 4, tons to 8. million based on likely shifts to less expensive imported feedstuffs.. TRADE CHANGES IN 2/26 Selected Exporters corn is down 3, tons to 6.2 million based on near-final trade data. Argentina corn is up, tons to 1. given a surge in late-season trade. Grain: World Markets and Trade, November 26 1

Paraguay corn is raised nearly 1 million tons to a record 1.3 million based on final trade data. The increase is mostly late-season trade with Brazil (with corn imports there raised, tons to 9,, a 6-year high). Final corn trade data is used to adjust exporters Brazil, China, South Africa, and Thailand; and importers China, Japan, South Africa, South Korea, and Thailand. Grain: World Markets and Trade, November 26 16

World Coarse Grain Trade October/September Year, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Exports Argentina 13, 1,834 14,371 11, 11,4 11,4 Australia 2,472 6,72 4,996,72 3,39 2,94 Brazil 3,246 6,191 1,47 2,828 2, 3, Canada 1,712 3,474 3,217 3,97 3,2 3,2 China, Peoples Republic of 1,336 7,723 7,617 3,72 4,2 4,2 9,736 2,342,78 3,326 4,6 4,6 Romania 243 93 89 7 7 Russian Federation 3,494 1,767 1,34 1, 2,2 2, Serbia and Montenegro 366 63 93 1,2 1, 1,2 Ukraine 3,42 3,811 6,46 7,2 7, 6,,167,61,179 6,194 3,37 3,6 8,247 48,66 1,42 47,31 43,38 44,16 46,428 4,77,692 61,9 61,73 6,33 14,67 12,742 12,94 18,9 1,12 14,49 TY Imports Algeria 1,696 1,788 2,174 2,1 2, 2, Brazil 93 96 74 1,11 1, 1, Canada 4,98 2,81 2,339 2,7 2,87 2,87 Chile 1,11 1,148 1,189 1,61 1,1 1,1 China, Peoples Republic of 1,83 1,33 2,73 2,292 2,33 2,33 Colombia 2,428 2,232 2,16 3,33 3,32 3,32 Dominican Republic 96 824 1,31 1,1 1,1 1,1 Egypt 4,867 3,747,4 4,2 4,82 4,82 6,721 7,33 3,766 3,77 3,44 3,9 Indonesia 1,633 1,436 41 1,4 1,3 1,3 Iran 2,17 2,18 3,849 3,1 3, 3,3 Israel 1,382 2,12 1,7 1,42 1,67 1,67 Japan 2,321 19,982 19,79 19,782 19,47 19,2 Jordan 82 771 938 1,2 9 1, Korea, Republic of 8,881 8,987 8,71 8,98 9,3 8,63 Libya 322 31 693 67 7 7 Malaysia 2,48 2,41 2,46 2, 2,6 2,6 Mexico 8,766 8,873 8,97 9,8 9, 9,3 Morocco 1,212 1,326 1,989 2,4 1,9 1,9 Peru 992 1,114 1,366 1,6 1,4 1,4 Saudi Arabia 8,927 7,13 7,644 8,1 7, 7, South Africa, Republic of 7 612 277 1,26 82 82 Syria 1,198 1,41 2,281 2,1 2,4 2,4 Taiwan 4,829,114 4,77 4,6 4,9 4,6 Tunisia 1,46 883 1,228 1,2 1,2 1,1 11,3 1,92 1,9 11,42 9,21 9,46 11,26 97,48 98,86 12,7 1,63 99,98 Unaccounted 867 3,16 992 3,87 2,3 2,6 2,43 2,241 2,242 2,32 2,4 2,4 14,67 12,742 12,94 18,9 1,12 14,49

World Coarse Grains Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov Production Argentina 19,44 18,96 24,92 17,898 21,73 21,73 Australia 6,62 14,861 11,73 13,79 8, 7,7 Brazil 47,97 44,881 37,874 43,774 43,29 43,79 Canada 19,892 26,326 26,447 26,36 23,2 23,2 China, Peoples Republic of 13,72 123,93 138,22 147,696 149,26 11,26 Ethiopia 4,77 6,6 7,6 9,8 9,42 9,42 138,66 122,998 1,749 131,47 128,98 127,164 India 2,66 37,81 33,7 34,39 33,7 33,7 Mexico 26,42 3,277 28,947 2,833 29,13 29,13 Nigeria 19, 2,3 22,3 23,7 24,2 24,2 Romania 8,36 7,96 13,8 11,839 9,9 9,67 Russian Federation 33,4 3, 29,6 27,6 29, 3,2 South Africa, Republic of 1,126 1,363 12,29 7,38 9,998 9,998 Turkey 9,96 1,4 11,4 11,94 11,4 11,4 Ukraine 17,11 1,6 23, 18,14 19,1 19,4 114,77 12,73 123,337 12,96 12,36 127,163 632,17 641,63 69,17 676,1 674,639 678,72 243,719 27,98 319,417 298,736 29,12 28,722 87,826 916,71 1,14,92 97,246 964,79 964,474 Domestic Consumption Argentina 7,427 7,37 9,8 9,123 9,673 9,673 Brazil 38,8 38,913 41,8 41,972 42,99 42,99 Canada 22,816 23,826 23,84 24,4 24,73 24,73 China, Peoples Republic of 136,41 138,61 141,172 147,4 11,43 11,43 Egypt 11,989 1,277 12,364 11,38 11,68 11,68 136,86 13,467 138,817 132,64 134,32 133,77 India 26,7 36, 33,24 34,23 33,6 33,6 Japan 2,47 2,737 19,878 2,2 19,89 19,92 Mexico 3,33 37,332 38,276 37,8 38,68 38,48 Nigeria 19, 2,2 22, 23,4 24, 24, Romania 8,2 8,9 11, 11,1 11,1 1,8 Russian Federation 29,8 33,2 29,4 27,7 27,9 28,1 South Africa, Republic of 9,72 9,219 1,3 9,648 9,923 9,923 Turkey 1,674 11,186 11,44 11,6 11,46 11,36 Ukraine 13,262 14, 1,2 11,99 13,1 13,3 161,12 172,488 177,38 187,84 187,38 189,3 688,337 72,72 73,269 742,2 74,68 74,796 214,667 22,98 24,216 244,97 26,46 2,149 93,4 946,678 97,48 987,122 1,1,614 1,9,94 Ending Stocks Brazil 6,36 8,4 4,38 3,847 3,622 3,47 Canada 3,13 4,76 6,341 6,332 4,197 4,197 China, Peoples Republic of 66,369 4,481 37,17 3,798 31,878 33,938 21,714 12,622 24,227 22,78 1,938 1,684 Iran 1,781 1,873 2,739 2,739 2,439 2,239 Mexico 3,884,678,36 3,19 3,29 3,9 Saudi Arabia 2,64 2,434 2,78 3,98 2,488 2,788 33,37 3,91 37,477 34,7 27,718 28,8 138,92 111,124 12,19 112,278 91,489 94,27 3,94 28,764 8,8 4,841 29,122 27,391 169,86 139,888 178,99 167,119 12,611 121,648

Regional Coarse Grains Imports, Production, Consumption, and Stocks Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Imports North America 1,47 13,19 13,6 14,19 14,82 14,62 Central America 1,98 2,178 2,4 2,62 2, 2, Caribbean 1,9 1,634 1,913 2,11 2,18 2,18 South America 6,66 6,383 6,46 8,64 7,99 8,14 European Union 6,721 7,33 3,766 3,77 3,44 3,9 Other Europe 1,196 1,63 689 647 64 64 Former Soviet Union - 12 76 1,44 1,8 1,16 93 98 Middle East 16,92 16,162 17,864 17,2 17,4 17,3 North Africa 9,143 8,27 11,489 1,4 1,73 1,63 Sub-Saharan Africa 2,96 1,66 2,73 3,621 2,1 2,1 East Asia 36,19 3,786 3,611 3,672 36,3 3,38 South Asia 1 32 44 1 Southeast Asia 4,726 4,46 3,499 4,74 4,28 4,28 Oceania 97 14 23 4 2 2 Total 13,88 99,726 11,12 1,3 13,8 12,43 Production North America 29,31 331,71 374,811 3,6 342, 338,17 Central America 3,6 3,26 2,882 2,889 3,146 3,146 Caribbean 4 3 46 46 46 South America 7,291 72,93 72,662 71,42 74,841 7,391 European Union 138,66 122,998 1,749 131,47 128,98 127,164 Other Europe 22,146 18,71 29,2 26,796 24,4 24,12 Former Soviet Union - 12 6,724,371 62,94,8 7,448 8,448 Middle East 17,8 17,717 18,496 19,186 18,286 18,286 North Africa 9,612 11,77 11,786 9,299 11,692 11,692 Sub-Saharan Africa 69,17 78,249 78,47 81,94 82,717 84,794 East Asia 133,39 126,244 14,89 1,79 11, 13, South Asia 3,464 42,24 38,13 38,9 38,263 38,263 Southeast Asia 18,264 19,43 21,74 22,43 22,7 22,7 Oceania 7,317 1,472 12,198 14,46 8,72 8,42 Total 87,826 916,71 1,14,92 97,246 964,79 964,474 Domestic Consumption North America 273,16 287,116 32,296 36,217 319,961 318,364 Central America 4,93,7,4,,72,77 Caribbean 2,6 2,112 2,3 2,33 2,618 2,618 South America 9,12 6,478 6,467 67,38 69,1 69,1 European Union 136,86 13,467 138,817 132,64 134,32 133,77 Other Europe 2,986 21,27 24,964 24,943 24,479 24,189 Former Soviet Union - 12 2,781 6,72 4,616 49,479,13,3 Middle East 3,736 34,31 33,889 3,8 36,33 36,48 North Africa 19,162 18,746 21,891 2,77 21,81 21,76 Sub-Saharan Africa 7,13 77,112 78,897 84,688 84,22 8,91 East Asia 172,991 17,783 177,183 183,428 187,78 187,1 South Asia 31,24 4,73 37,81 38,79 38,163 38,163 Southeast Asia 22,16 21,818 24,14 26,133 26,34 26,34 Oceania,936 7,24 7,27 7,6 7,4 7,89 Total 91,894 943,866 97, 98,84 862,812 1,7,947 Ending Stocks North America 37,99 38,18 7,447 64,282 32,881 34,647 Central America 37 696 37 49 46 466 Caribbean 74 131 199 232 24 2 South America 8,82 1,879 8,283 7,232 6,48 6,998 European Union 21,714 12,622 24,227 22,78 1,12 1,684 Other Europe 2,981 1,698 4,138 4,33 2,39 2,424 Former Soviet Union - 12 11,967,964 7,28,4 1,783,49 Middle East 6,467 6,47 8,178 8,191 1,963 7,2 North Africa 1,19 2,288 3,327 2,388 1,83 2,94 Sub-Saharan Africa 3,944,36,337 4,42 3,284 3,769 East Asia 71,188 49,78 41,221 39,792 34,691 37,47 South Asia 826 1,231 1,116 961 862 836 Southeast Asia 1,228 1,988 2,7 2,621 2,432 2,26 Oceania 1,33 2,33 2,62 3,863 28 1,4 Total 169,86 139,888 178,99 167,119 99,9 121,648

22/3 23/4 24/ 2/6 Oct Nov NOTES: Regional definitions appear on last page of this circular. Imports are reported on an international year basis. All other data are reported using marketing years.

World Corn Trade October/September Year, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Exports Argentina 12,349 1,439 13,72 1, 11, 11, Brazil 3,181,818 1,431 2,828 2, 3, Burma, Union of 113 144 1 2 3 3 China, Peoples Republic of 1,244 7,3 7,89 3,727 4, 4, 1,99 49 164 12 Paraguay 733 48 386 1,314 Romania 144 93 87 3 6 6 Serbia and Montenegro 33 7 89 1,2 1, 1,2 South Africa, Republic of 1,141 797 1,17 1,46 Ukraine 811 1,238 2,334 2,4 1,8 1,8 1,44 3,284 2,641 2,414 1,2 1, 37,9 3,43 31,14 26,14 23,72 24,9 4,924 48,88 4,347 6,2 7,, 78,433 79,238 76,487 82,714 8,72 8,4 TY Imports Algeria 1,643 1,76 2,46 1,9 2, 2, Brazil 639 49 481 9 8 8 Canada 3,846 2,33 2,237 2, 2,8 2,8 Chile 933 1,43 1,81 1, 1,4 1,4 Colombia 2,112 1,999 2,26 3,1 3,1 3,1 Costa Rica 14 83 69 6 6 6 Cuba 279 469 46 6 6 6 Dominican Republic 96 824 1,31 1,1 1,1 1,1 Egypt 4,848 3,743,398 4, 4,8 4,8 4,327,9 2,966 3,2 3, 3, Guatemala 13 13 641 7 6 6 Indonesia 1,633 1,436 41 1,4 1,3 1,3 Iran 2,17 1,87 2,8 2,3 2, 2, Israel 776 1,377 1,242 1, 1,2 1,2 Japan 16,863 16,781 16,48 16,619 16, 16, Korea, Republic of 8,781 8,778 8,633 8,483 8,9 8, Malaysia 2,48 2,41 2,46 2, 2,6 2,6 Mexico,269,739,94 6,7 6,3 6,3 Morocco 1,4 1,183 1,423 1, 1, 1, Peru 917 1,41 1,31 1, 1,3 1,3 Saudi Arabia 1,424 1,621 1,224 1,4 1, 1, South Africa, Republic of 617 49 131 896 7 7 Syria 919 941 1,781 1,3 1,6 1,6 Taiwan 4,681 4,91 4,62 4, 4,8 4, Tunisia 734 784 714 6 7 6 8,66 7,984 7,798 8,29 6, 6,9 77,399 76,39 7,996 79,477 79, 78, Unaccounted 66 2,88 21 2,987 1,47 1,64 374 341 281 2 2 2 78,433 79,238 76,487 82,714 8,72 8,4

World Corn Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov Production Argentina 1, 1, 2, 14, 17, 17, Brazil 44, 42, 3, 41, 4, 41, Canada 8,999 9,6 8,84 9,461 8,8 8,8 China, Peoples Republic of 121,3 11,83 13,29 139,36 141, 143, Egypt 6,,74,84,86,87,87 49,36 39,876 3,478 48,318 44,32 44,32 India 11,1 14,72 14,18 1,9 14, 14, Indonesia 6,1 6,3 7,2 6,9 6,6 6,6 Mexico 19,28 21,8 22, 19, 22, 22, Nigeria,2, 6, 7, 7, 7, Philippines 4,43 4,9,,9,8,8 Romania 7,3 7,2 12, 1,3 8,8 8, Serbia and Montenegro,8 3,8 6,69 6,6 6,6 6,6 South Africa, Republic of 9,67 9,7 11,716 7, 9, 9, Ukraine 4,18 6,8 8,8 7,1 6, 6, 6,698 6,726 64,8 67,86 66,836 68,3 37,27 369,412 412,868 411,3 412,131 41,79 227,767 26,278 299,914 282,26 277, 272,931 62,974 62,69 712,782 693,29 689,136 688,726 Total Consumption Argentina 4,1 4,4,2,9 6,1 6,1 Brazil 3,8 36,3 38, 39, 4, 4, Canada 12,76 11,228 1,314 11,12 11,8 11,8 China, Peoples Republic of 12,9 128,4 131, 137, 141, 141, Egypt 1,9 9,2 11,3 1,3 1,6 1,6 49,26 46,814 1,7 48,9 49,3 49,3 India 12, 13,2 13,9 14,6 14, 14, Indonesia 7, 7,3 7,9 8,2 8, 8, Japan 16,8 17,2 16, 16,6 16,6 16,6 Korea, Republic of 8,782 8,722 8,666 8,79 9, 8,6 Mexico 24,7 26,4 27,9 27,9 28,3 28,3 Nigeria,2, 6,3 6,8 7,4 7,4 Philippines 4,6 4,9,1,8,9,9 Romania 7,2 7,9 9, 9,7 9,8 9, South Africa, Republic of 8,2 8,677 9,7 9,1 9,3 9,3 91,21 98,763 1,719 18,874 19,39 11,374 426,96 436,6 46,32 468,388 479,278 479,673 2,748 211,644 224,648 231,84 244,867 243,97 627,344 647,6 684,973 699,972 724,14 723,27 Ending Stocks Brazil 6,28 7,878 4,192 3,692 3,442 3,442 Canada 1,111 1,143 1,82 2,1 1,61 1,61 China, Peoples Republic of 64,973 44,82 36, 3,2 31,29 33,3 4,826 2,938 7,18 1,11 7,61 7,36 Iran 1,48 1, 1,413 1,313 1,213 1,213 Korea, Republic of 1,211 1,337 1,382 1,349 1,399 1,319 Mexico 3,238 4,372 4,44 2,49 2,64 2,49 1,112 1,8 2,23 18,381 1,93 1,287 97,777 79,83 77,32 74,492 64,244 66,243 27,63 24,337 3,697, 2,294 23,76 12,38 13,42 131,229 124,47 89,38 9,3

Regional Corn Imports, Production, Consumption, and Stocks Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Imports North America 9,489 8,113 8,463 8,9 9,3 9,3 Central America 1,98 2,178 2,41 2,62 2, 2, Caribbean 1,9 1,634 1,913 2,11 2,18 2,18 South America,629,8,738 7,97 7,36 7,1 European Union 4,327,9 2,966 3,2 3, 3, Other Europe 872 1,84 49 367 31 31 Former Soviet Union - 12 179 677 9 6 4 Middle East 7,668 7,91 8,39 7,2 8,7 8,22 North Africa 8,413 7,673 1,13 8,97 9,4 9,3 Sub-Saharan Africa 2,293 1,333 2,147 2,91 1,74 1,74 East Asia 3,62 3,682 3,44 3,14 3, 29,8 South Asia 7 32 4 1 Southeast Asia 4,721 4,21 3,492 4,73 4,27 4,27 Oceania 84 8 3 2 Total 77,773 76,6 76,277 79,727 79,2 78,8 Production North America 26,46 287,678 33,84 311,221 37,8 33,731 Central America 2,676 2,874 2,2 2,82 2,82 2,82 Caribbean 41 47 377 328 328 328 South America 66,971 64, 63,32 63,436 66,16 66,66 European Union 49,36 39,876 3,478 48,318 44,32 44,32 Other Europe 17,767 1,13 23,699 22,183 2,31 2,1 Former Soviet Union - 12 8,48 11,3 1,38 13,12 11,92 11,92 Middle East 3,763 4,382 4,732,432 4,932 4,932 North Africa 6,22,942 6,42 6,62 6,72 6,72 Sub-Saharan Africa 3,14 37,971 41,14 38,361 41,282 42,696 East Asia 123,74 117,679 132,14 141,277 142,789 144,789 South Asia 14,77 17,87 17,3 18,21 17,62 17,62 Southeast Asia 17,972 19,246 21,38 22,183 22,34 22,34 Oceania 49 482 72 72 72 Total 62,974 62,69 712,782 693,29 689,136 688,726 Domestic Consumption North America 238,24 249,272 262,862 27,496 284,967 283,697 Central America 4,7 4,73,1,19,4,4 Caribbean 1,931 1,984 2,222 2,4 2,49 2,49 South America 1,41 2, 6,33 8,39 6,9 6,9 European Union 49,26 46,814 1,7 48,9 49,3 49,3 Other Europe 16,96 17,27 2,174 2,414 2,12 19,83 Former Soviet Union - 12 7,921 11,9 12,76 11,7 1,88 1,98 Middle East 1,642 12,28 12,221 12,86 13,181 13,331 North Africa 14,334 13,298 1,72 14,92 1, 1, Sub-Saharan Africa 3,41 37, 4,83 41,26 42,177 43,232 East Asia 18,247 161,38 163,78 169,4 173,491 172,791 South Asia 1,73 16,493 17,34 17,72 17,62 17,62 Southeast Asia 21,896 21,1 23,797 2,788 26, 26, Oceania 46 46 8 Total 626,117 646,648 683,897 699,899 721,826 72,871 Ending Stocks North America 31,92 29,82 9,939 4,46 29,3 27,81 Central America 329 64 21 478 447 448 Caribbean 74 131 199 232 24 2 South America 8,8 9,763 7,249 6,,969 6,326 European Union 4,826 2,938 7,18 1,11 7,61 7,36 Other Europe 2,462 1,17 3,44 3,648 2,342 1,933 Former Soviet Union - 12 1,28 1,361 2,16 1,61 1,28 1,23 Middle East 1,976 1,98 2,4 2,11 1,927 1,927 North Africa 338 8 996 1,14 1,43 1,26 Sub-Saharan Africa 3,396 3,861 4,49 2,8 2, 2,244 East Asia 68,847 48,338 39,91 38,461 34,31 36,39 South Asia 379 36 392 92 442 392 Southeast Asia 1,22 1,983 2,49 2,9 2,46 2, Oceania 4 38 37 29 26 26 Total 12,38 13,42 131,229 124,47 89,38 9,3

22/3 23/4 24/ 2/6 Oct Nov NOTES: Regional definitions appear on last page of this circular. Imports are reported on an international year basis. All other data are reported using marketing years.

World Barley Trade October/September Year, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Exports Argentina 11 167 338 3 2 2 Australia 2,19 6,14 4,481,3 3, 2,7 Bulgaria 14 2 4 2 1 1 Canada 34 1,937 1,476 1,9 1, 1, 6,37 984 3,881 2, 3, 3, Kazakhstan, Republic of 42 613 1 1 3 3 Romania 99 38 2 1 1 Russian Federation 3,66 1,736 1,488 1, 2,2 2, Serbia and Montenegro 13 6 4 Syria 446 32 Turkey 4 26 2 Ukraine 2,334 2,7 3,992 4,7,2 4,7 183 2 16,212 14,446 16,44 17,3 16,2 1,9 2 384 771 3 4 4 16,764 14,83 17,31 17,6 16,6 16,3 TY Imports Brazil 296 128 182 1 1 1 China, Peoples Republic of 1,792 1,19 2,49 2,2 2,2 2,2 Colombia 226 181 234 2 2 2 1,443 672 4 4 3 3 Iran 661 1,291 8 1, 8 Israel 448 8 313 3 4 4 Japan 1,399 1,39 1,22 1,4 1,4 1,4 Jordan 414 4 67 8 6 6 Kuwait 116 62 214 2 2 2 Libya 188 333 261 2 3 3 Morocco 16 143 6 4 4 Russian Federation 27 438 266 2 2 2 Saudi Arabia 7,2,8 6,42 6,7 6, 6, Syria 279 6 8 8 8 Tunisia 312 99 14 6 1,411 1,496 1,21 1,1 1,23 1,23 16,27 14,17 16,77 17,1 1,98 1,78 Unaccounted 22 226 41 49 37 27 282 497 17 1 3 3 16,764 14,83 17,31 17,6 16,6 16,3

World Barley Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov Production Algeria 416 1,22 1,314 4 1,4 1,4 Australia 3,86 1,387 7,78 9,869 4, 4,2 Belarus 1,681 1,8 2, 1,8 1,3 1,3 Canada 7,489 12,328 13,186 12,481 1, 1, China, Peoples Republic of 3,322 2,717 3,222 3,4 3, 3, Ethiopia 1,2 1,41 1,7 1,78 1,8 1,8 6,9 4,826 61,73 2,917,13 4,863 India 1, 1,41 1,31 1,8 1,4 1,4 Iran 3,8 2,9 2,9 2,9 2,9 2,9 Iraq 1, 1,1 1,2 1,2 1,2 1,2 Kazakhstan, Republic of 2,2 2,1 1, 1, 1, 1, Morocco 1,669 2,62 2,76 1,12 2, 2, Russian Federation 18,7 18, 17,2 1,8 18, 18, Turkey 7,2 6,9 7,4 7,6 7,2 7,2 Ukraine 1,364 6,8 11,1 9, 11, 11,8 9,77 1,229 11,91 1,618 1,3 1,37 129,97 136,847 148,129 133,2 134,213 134,83 4,94 6,9 6,91 4,613 3,92 3,92 134,847 142,96 14,22 138,11 138,133 138,3 Total Consumption Australia 2,7 3, 3,2 3,4 3, 3,7 Belarus 1,7 1,7 1,9 1,97 1, 1, Canada 7,9 9,893 1,767 1,42 1,2 1,2 China, Peoples Republic of 4,9 4,7,3,,6,6 Ethiopia 1,2 1,41 1,7 1,78 1,8 1,8 4,4 6,877 2,9 2, 4,8 4,8 India 1, 1,4 1,3 1,1 1,4 1,4 Iran 2,9 3,1 3, 3,9 4,1 4,1 Japan 1,6 1,63 1,6 1,6 1,6 1,6 Morocco 2, 2,3 2,7 2,4 2,6 2,6 Russian Federation 1, 18,6 16, 1, 16,1 16,1 Saudi Arabia,81 7,1,41 6,31 6,21 6,31 Syria 1,1 1,2 1,3 1,4 1, 1, Turkey 6,8 7,1 7,3 7,3 7,2 7,1 Ukraine 7,4 6,2 6,4 4,9 6,7 6,9 14,216 14,92 16,644 16,129 16,428 16,428 131,24 142,7 137,9 137,1 141,271 141,71,179 4,99,672 4,71 4,246 4,246 136,383 147,47 143,231 142,122 14,17 14,817 Ending Stocks Algeria 291 611 876 626 1,26 1,26 Australia 948 1,887 2,134 3,33 1,13 1,13 Canada 1,47 2,12 3,43 3,289 1,639 1,639 8,488 4,287 1,76 8,26,786,669 Russian Federation 4,76 2,227 2,11 934 91 1,84 Saudi Arabia 2,611 2,399 2,672 3,62 2,42 2,72 Ukraine 1,424 96 991 1,212 832 1,432,749,833 7,83 6,11,888,68 2,692 19,942 3,74 27,193 19,636 2,313 1,1 2,619 2,796 2,3 1,916 1,916 27,22 22,61 33, 29,43 21,2 22,229

Regional Barley Imports, Production, Consumption, and Stocks Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Imports North America 14 67 291 2 4 4 South America 772 44 38 3 3 European Union 1,443 672 4 4 3 3 Other Europe 23 384 172 19 24 24 Former Soviet Union - 12 333 76 327 47 33 33 Middle East 9,81 8,112 9,619 9,86 9,23 9,3 North Africa 721 61 1,473 1,2 1,27 1,27 Sub-Saharan Africa 97 69 12 1 1 1 East Asia 3,34 3,47 3,768 3,8 3,8 3,8 South Asia 2 Oceania 1 6 2 2 2 2 Total 16,39 14,64 16,864 17,16 16,28 16,8 Production North America 13,166 19,469 2,29 17,847 14,82 14,82 South America 1,399 2,39 2,8 1,82 1,89 1,89 European Union 6,9 4,826 61,73 2,917,13 4,863 Other Europe 3,28 2,39 4,119 3,381 2,867 2,887 Former Soviet Union - 12 34,72 29,631 33,16 29,38 33,69 34,49 Middle East 12,438 12,116 12,4 12,3 12,13 12,13 North Africa 2,43 4,79 4,719 2,212 4,9 4,9 Sub-Saharan Africa 1,48 1,764 1,871 2,132 2,17 2,17 East Asia 3,839 3,136 3,678 3,84 3,92 3,92 South Asia 1,99 1,97 2,2 1,79 2,118 2,118 Oceania 4,36 1,76 8,88 1,269 4,9 4,6 Total 134,847 142,96 14,22 138,11 138,133 138,3 Domestic Consumption North America 13,884 1,833 17,389 1,941 1,396 1,396 South America 1,9 2,189 2,33 2,22 2,22 2,22 European Union 4,4 6,877 2,9 2, 4,8 4,8 Other Europe 2,81 2,7 3,49 3,2 3,3 3,3 Former Soviet Union - 12 27,616 29,6 27, 2,94 27, 27,2 Middle East 18,627 2,7 2,232 21,67 21,83 21,83 North Africa 3,839 4,427,164 4,78,23,23 Sub-Saharan Africa 1,612 1,774 1,986 2,2 2,26 2,26 East Asia 6,949 6,719 7,47 7,66 7,76 7,76 South Asia 1,998 1,96 2,1 1,81 2,118 2,118 Oceania 3,12 3,4 3,6 3,8 3,92 4,12 Total 136,81 146,18 144,118 14,89 14,634 146,34 Ending Stocks North America 3,27 4,921 6,47,731 3,647 3,647 South America 267 44 331 163 168 168 European Union 8,488 4,287 1,76 8,26,786,669 Other Europe 4 47 683 66 423 443 Former Soviet Union - 12 7,44 3,727 4,16 3,141 2,442 3,216 Middle East 4,448 4,429,742 6,4,89,89 North Africa 64 1,442 2,291 1,244 1,879 1,879 Sub-Saharan Africa 3 8 93 12 13 13 East Asia 1,388 8 839 824 789 789 South Asia 24 34 44 24 24 24 Oceania 1,17 1,939 2,186 3,37 1,17 1,17 Total 27,22 22,61 33, 29,43 21,2 22,229 NOTES: Regional definitions appear on last page of this circular. Imports are reported on an international year basis. All other data are reported using marketing years.

World Sorghum Trade October/September Year, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Exports Argentina 64 228 279 2 2 2 Australia 7 42 37 2 2 1 Brazil 64 371 24 China, Peoples Republic of 88 168 28 2 2 2 India 6 42 24 2 2 2 Nigeria Sudan 1 1 2 2 2 14 67 4 1 4 4 1,1 1,361 82 626 72 7 4,911 4,84 4,41, 4,3 4,4,912 6,26,366,626,2 4,97 TY Imports Chile 8 62 71 6 6 6 Eritrea 81 2 2 2 439 1,139 226 1 7 22 Israel 69 14 34 Japan 1,62 1,434 1,374 1,393 1,3 1,3 Mexico 3,384 3,2 2,931 3, 3,1 2,9 Niger 2 Somalia 1 18 7 2 2 Sudan 1 1 16 2 1 1 Taiwan 64 61 61 21 23 227 3 7 7,877 6,17,233,48 4,91 4,91 Unaccounted 34 49 132 218 11 6 1 1,912 6,26,366,626,2 4,97

World Sorghum Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov Production Argentina 2,8 2,2 2,9 2,2 2,8 2,8 Australia 1,46 2,9 2,177 2,19 2,1 2,1 Brazil 1,9 2,13 2,1 1,8 1,9 1,9 Burkina 1,26 1,2 1,4 1,837 1, 1,6 China, Peoples Republic of 3,327 2,86 2,328 2,46 2,4 2,4 Egypt 9 9 9 9 9 9 Ethiopia 1,1 1,7 2,1 2,8 2,9 2,9 71 38 47 47 48 48 India 7,6 7,33 7,24 7,79 7,8 7,8 Mexico 6,338 7,3,89, 6,1 6,1 Niger 7 72 7 6 67 Nigeria 7,8 9, 1, 1, 1, 1, Sudan 2,93,19 2,7 4,38 3,7 3,7 Tanzania, United Republic 83 82 89 8 7 Uganda 42 42 4 4 38 49 4,64 4,386 4,314 4,277 4,398 4,391 43,6 48,23 46,24 49,19 49,38 49,486 9,163 1,446 11,23 1, 7,61 7,327 2,818 8,969 7,763 9,164 7,9 6,813 Total Consumption Argentina 2,2 1,9 2,6 2,2 2, 2, Australia 1,4 1,4 1,9 1,8 1,8 2, Brazil 1,8 1,6 2,1 1,9 1,9 1,9 Burkina 1,26 1,2 1,4 1,837 1, 1,6 China, Peoples Republic of 2,82 3, 2,4 2, 2,4 2,4 Egypt 9 9 9 9 9 9 Ethiopia 1,1 1,7 2,1 2,2 3, 3, 677 1,966 7 62 77 India 7,1 7,3 7,2 7,7 7,7 7,7 Japan 1,7 1, 1,4 1,4 1,37 1,4 Mexico 9,9 9,8 9,3 8,6 9,3 9,1 Niger 72 7 7 67 7 Nigeria 7,8 8,9 9,9 1,4 1,4 1,4 Sudan 3, 4, 3, 4,2 4, 4, Tanzania, United Republic 86 82 89 8 7 4,817,62,1,26,47,14 48,797 2,23 2,72 3,338 3,93 4,1 4,939,638 6,2 4,81 3,937 3,81 3,736 8,161 8,327 8,189 7,89 7,861 Ending Stocks Argentina 37 429 378 228 278 278 China, Peoples Republic of 47 247 16 187 177 177 Ethiopia 6 India 123 61 8 14 22 22 Mexico 61 1,13 624 24 474 474 Nigeria 2 2 2 2 2 2 Sudan 263 98 313 668 343 443 682 837 926 891 77 777 2,786 3,83 2,677 3,443 2,962 3,69 1,93 82 1,446 1,6 1,178 981 3,879 4,687 4,123,98 4,14 4,

Regional Sorghum Imports, Production, Consumption, and Stocks Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Imports North America 3,38 3,2 2,932 3, 3,1 2,9 Central America 4 Caribbean South America 123 14 18 9 6 6 European Union 439 1,139 226 1 7 22 Other Europe 34 24 7 1 1 1 Middle East 71 1 34 North Africa 1 3 Sub-Saharan Africa 187 232 412 9 23 23 East Asia 1,632 1,26 1,4 1,468 1,37 1,42 South Asia 1 4 Southeast Asia 2 7 1 Oceania Total,878 6,17,234,48 4,91 4,91 Production North America 1,1 17,746 17,413 1, 13,81 13,477 Central America 384 332 33 37 326 326 Caribbean 12 128 128 128 128 128 South America,473,7,777 4,89,1,1 European Union 71 38 47 47 48 48 Other Europe Middle East 3 48 48 48 48 48 North Africa 91 91 91 91 91 91 Sub-Saharan Africa 16,97 21,31 2,4 23,64 22,68 22,696 East Asia 3,344 2,882 2,348 2,66 2,42 2,42 South Asia 7,263 7,6 7,47 8,2 8,3 8,3 Southeast Asia 132 137 2 2 2 2 Oceania 1,46 2,9 2,177 2,19 2,1 2,1 Total 2,818 8,969 7,763 9,164 7,9 6,813 Domestic Consumption North America 14,839 1,438 1, 13,41 13,237 12,91 Central America 36 33 3 31 32 32 Caribbean 12 128 128 128 128 128 South America 4,988 4,49,94,6,326,326 European Union 677 1,966 7 62 77 Other Europe 39 29 12 1 1 1 Middle East 61 9 27 3 3 3 North Africa 916 91 91 9 91 91 Sub-Saharan Africa 17,632 2, 21,39 23,139 23,43 23,166 East Asia 4,484 4,63 3,886 3,98 3,8 3,87 South Asia 7,34 7,8 7,431 7,93 7,93 7,93 Southeast Asia 14 143 183 18 18 18 Oceania 1,4 1,4 1,9 1,8 1,8 2, Total 3,38 8,141 8,23 8,39 7,964 8,8 Ending Stocks North America 1,694 1,9 2,7 2,179 1,62 1,4 Central America 46 42 16 17 18 18 Caribbean South America 447 68 8 44 469 394 European Union 68 32 21 34 31 34 Other Europe Middle East 43 43 36 36 36 36 North Africa 4 4 39 39 39 39 Sub-Saharan Africa 3 1,37 773 1,73 1,267 1,378 East Asia 826 463 347 371 243 311 South Asia 123 61 8 14 22 22 Southeast Asia 8 26 26 26 26 Oceania 4 63 13 144 139 139 Total 3,879 4,687 4,123,98 4,14 4,

22/3 23/4 24/ 2/6 Oct Nov NOTES: Regional definitions appear on last page of this circular. Imports are reported on an international year basis. All other data are reported using marketing years.

World Oats Trade October/September Year, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Exports Argentina 1 2 Australia 14 21 137 2 12 12 Canada 1,8 984 1,374 1,7 1,7 1,7 Chile 12 44 29 2 2 2 794 443 34 2 2 2 Kazakhstan, Republic of 1 9 12 21 2,2 1,698 1,922 2,19 2,11 2,11 39 38 31 4 3 3 2,9 1,736 1,93 2,23 2,14 2,14 TY Imports Algeria 7 1 2 Bosnia and Herzegovina 6 Canada 49 19 16 2 2 2 China, Peoples Republic of 7 9 13 2 2 2 Colombia 28 23 26 2 2 2 11 11 6 1 1 1 Japan 83 67 67 7 7 7 Mexico 82 91 1 Morocco 1 1 South Africa, Republic of 19 31 42 2 2 2 Switzerland 34 38 26 6 29 9 332 324 26 29 28 28 Unaccounted - 11 9 14 1,777 1,32 1,629 1,8 1,8 1,8 2,9 1,736 1,93 2,23 2,14 2,14

World Oats Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov Production Argentina 348 8 3 4 4 Australia 97 2,18 1,321 1,416 1, 1, Belarus 7 77 6 Brazil 39 413 433 17 47 47 Canada 2,911 3,691 3,683 3,432 3,8 3,8 Chile 42 42 42 42 38 38 China, Peoples Republic of 6 6 6 6 6 6 9,28 8,623 8,7 7,386 7,778 7,468 Kazakhstan, Republic of 1 1 14 14 14 14 Norway 279 333 39 349 349 349 Romania 3 3 3 3 3 3 Russian Federation,7,2 4,9 4, 4,8, Serbia and Montenegro 12 11 12 12 12 12 Turkey 29 28 29 29 29 29 Ukraine 943 92 1, 8 9 9 49 47 9 7 7 23,91 24,476 24,21 21,879 22,489 22,379 1,684 2,96 1,679 1,667 1,361 1,361 2,99 26,72 2,93 23,46 23,8 23,74 Total Consumption Argentina 2 39 3 4 4 Australia 8 1,7 1,17 1,2 1,7 1,7 Belarus 6 7 6 Brazil 382 41 42 1 47 47 Canada 1,87 2,187 2,194 2,118 2,2 2,2 Chile 43 38 4 4 3 3 China, Peoples Republic of 6 61 61 62 62 62 8,287 8,276 8,33 7,3 7, 7,2 Kazakhstan, Republic of 1 9 13 13 13 13 Mexico 133 182 126 13 13 13 Norway 28 34 36 3 3 3 Romania 3 3 3 3 3 3 Russian Federation 6,3,6 4,9 4,6 4,8 4,9 Turkey 29 288 29 29 29 29 Ukraine 9 9 1, 8 9 9 743 747 76 787 78 78 22,692 23,24 22,332 2,722 2,949 2,749 3,48 3,389 3,297 3,287 3,189 3,189 26,172 26,93 2,629 24,9 24,138 23,938 Ending Stocks Argentina 77 77 83 78 73 73 Australia 187 29 299 31 11 11 Canada 24 788 974 872 792 792 China, Peoples Republic of 17 16 19 19 19 19 1,1 834 914 727 782 7 Norway 38 33 34 33 32 32 Russian Federation 7 184 24 19 19 29 16 123 183 127 134 134 2,674 2,43 2,836 2,41 2,227 2,3 723 941 841 763 716 716 3,397 3,376 3,677 3,214 2,943 3,16

Regional Oats Imports, Production, Consumption, and Stocks Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Imports North America 1,98 1,412 1,696 1,87 1,87 1,87 South America 3 34 26 3 2 2 European Union 11 11 6 1 1 1 Other Europe 41 47 34 Former Soviet Union - 12 2 9 7 Middle East North Africa 8 1 3 1 1 1 Sub-Saharan Africa 19 31 42 2 2 2 East Asia 9 76 8 9 9 9 Oceania Total 2,19 1,626 1,894 2,9 2,8 2,8 Production North America 4,66,882,437,179,241,241 South America 1,331 1,221 1,397 1,317 1,28 1,28 European Union 9,28 8,623 8,7 7,386 7,778 7,468 Other Europe 963 981 1,28 1,26 1,26 1,26 Former Soviet Union - 12 7,331 6,73 6,87 6,1 6,398 6,98 Middle East 29 28 29 29 29 29 North Africa 6 1 11 11 11 11 Sub-Saharan Africa 4 4 4 4 4 4 East Asia 62 62 62 62 62 62 Oceania 1,32 2,93 1,396 1,491 1,7 1,7 Total 2,99 26,72 2,93 23,46 23,8 23,74 Domestic Consumption North America,483,78,617,3,19,19 South America 1,39 1,27 1,382 1,32 1,28 1,28 European Union 8,287 8,276 8,33 7,3 7, 7,2 Other Europe 1,1 1,42 1,64 1,82 1,82 1,82 Former Soviet Union - 12 7,963 7,1 6,74 6,19 6,393 6,493 Middle East 29 288 29 29 29 29 North Africa 73 16 11 12 12 12 Sub-Saharan Africa 9 79 87 7 7 7 East Asia 68 677 677 69 69 69 Oceania 87 1,78 1,2 1,27 1,1 1,1 Total 26,12 26,368 2,2 23,932 24,94 23,894 Ending Stocks North America 1,2 1,732 1,818 1,638 1,11 1,11 South America 98 14 118 11 11 11 European Union 1,1 834 914 727 782 7 Other Europe 63 2 49 48 48 Former Soviet Union - 12 66 242 31 246 246 346 Middle East North Africa 1 1 1 1 1 1 Sub-Saharan Africa 1 12 12 12 12 12 East Asia 18 19 114 116 118 118 Oceania 187 29 299 31 11 11 Total 3,397 3,376 3,677 3,214 2,943 3,16 NOTES: Regional definitions appear on last page of this circular. Imports are reported on an international year basis. All other data are reported using marketing years.

World Rye Trade October/September Year, Thousand Metric Tons 22/3 23/4 24/ 2/6 Oct Nov TY Exports Belarus 1 Canada 44 186 123 12 12 12 624 42 676 4 4 4 687 42 122 1, 73 971 67 7 7 2 2 2 1,7 732 973 68 8 8 TY Imports 1 22 14 1 1 1 Israel 89 23 111 7 2 2 Japan 414 341 261 3 2 2 Korea, Republic of 31 114 8 2 2 Norway 8 16 13 2 2 2 Russian Federation 6 177 7 1 1 Switzerland 2 7 2 Turkey 43 16 61 2 2 2 Ukraine 222 32 9 11 12 1 1,4 88 69 2 4 4 Unaccounted -2 43 14 3 2 2 19 11 174 12 1 1 1,7 732 973 68 8 8