Approved by the World Agricultural Outlook Board - USDA
United States
Department of
Agriculture
Foreign
Agricultural
Service
Circular Series
FG 06-08
June 2008
Grain:
World Markets and Trade
The European Union (EU-27) is forecast to retake its position as a global net exporter of
wheat and coarse grains as exports rebound and imports drop. Exports of wheat, corn, and
barley to the Mediterranean region and Middle East are projected higher on larger crops
and the expectation that the EU Commission will approve export licenses. The EU’s
import demand for corn and sorghum is forecast to fall with greater domestic supplies of
feed-quality wheat, barley, and corn. High protein milling wheat and durum imports are
expected to remain stable.
Internal market prices in the EU are two to three times above the intervention support
price (€101). With the absence of intervention stocks, market supplies and prices will be
largely dependent on this year’s harvests. These factors will influence the Commission’s
willingness to approve export licenses.
EU Wheat and Coarse Grain Exports Rebound While Imports Drop
0
5
10
15
20
25
30
2004/05 2005/06 2006/07 2007/08 2008/09
MMT
Exports
Imports
TABLE OF CONTENTS
World Markets and Trade: Commentary and Current Data
Wheat ................................................................................................................. 4
Rice .................................................................................................................. 11
Coarse Grains................................................................................................... 16
Historical Data Series for Selected Regions and Countries ............................ 39
Endnotes to Grain: World Markets and Trade ............................................... 58
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