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USDA Grains: World Markets and Trade

11 March 2013

USDA Grains: World Markets and Trade - March 2013USDA Grains: World Markets and Trade - March 2013

EU corn imports are up sharply in 2012/13 as exports of wheat reduce domestic grain supplies.
USDA Grains: World Markets and Trade Reports

EU Wheat Exports Boost Demand for Corn

EU wheat exports are up nearly 20 percent, despite lower production. Ending stocks are also the tightest since Common Agricultural Policy (CAP) reform which effectively eliminated government (intervention) stocks. The vacuum created by the absence of exportable supplies from Russia and Ukraine is pulling wheat out of the European Union to fill demand in North Africa and the Middle East. Although French and German exports are expanding, eastern European countries, such as Bulgaria, Latvia, Lithuania, and Romania are benefitting the most from the reduced competition.

Meanwhile, a tight EU domestic feed-quality wheat situation and a nearly 20 percent drop in corn production has stimulated a surge in corn imports. Import licenses have more than doubled year-over-year with demand for corn coming mostly from southern European countries. This year, Ukraine has abundant corn supplies and limited feed-quality wheat resulting in a nearly tripling of corn exports to the EU (Oct-Dec). Brazil has also become a significant supplier.

March 2013

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