All time high grain trade forecasted in 2017 and 2018

2017-05-22

USDA released their monthly report “World Agriculture Supply and Demand Estimates”(WASDE) on Wednesday last week. Total world trade of Coarse grains, Major oilseeds*, Major protein meals* and Wheat was revised up with another 2.8Mt to 605Mt in the 16/17 MY. Total export in the 16/17Marketing Year (MY) is now forecast to be up 22Mt YOY from the previous Marketing Year.

This month’s update was the first too include projections for the 17/18 MY. Total export of grains* in the coming marketing year is forecast to increase with another 10Mt to a new all-time high of 615Mt.

Total global wheat export is projected to increase 2Mt YoY to a new all-time high of 181Mt. Total coarse grain export is expected to be on par with the current MY at 184Mt. Total global export of major oilseeds* is forecast to increase with 6Mt to a new all-time high of 168Mt while the total global export of major protein meals* is estimated to increase 3Mt to a new all-time high of 83Mt.

The growth regions in terms of export is forecast to be East Coast South America with a projected increase of 13Mt to 213Mt followed by the EU with a 6Mt increase to 43Mt. The growth in these regions is forecast to be partly offset by lower export in North/Central America (-4Mt), Med/BS (-3Mt) and in Australia (-3Mt).

*Coarse grains, Rapeseed, Rapeseed Meal, Soybean, Soybean Meal, Sunflower Seeds, Sunflower Meal and Wheat

Source: Klaveness

Source from : International Shipping News

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