Wheat

Wheat

Kim’s web sitefor wheat market information

agecon.okstate.edu/anderson

KCBT Dec price

Ending Stocks

U.S.

World

5-yearaverage2006/07

520456

5,3204,589

Million Bushels

2007/08

362

4,128

Argentina & Australia

Million Bushels

2006/07 2007/08 5-yr avg.

Argentina 559 514 532

Australia 367 772 692

Corn

Soybeans

HRW wheat production area

Corn

SRW wheat production area

Soybeans

Other Spring Wheat excl. Durham

Durum

White Winter Wheat

KCBT July ‘08

$5.95-0.40$5.55

Production

5-year avg. ‘07 Guessmillion bushels

World 21,720 22,428 22,80021.7 22.9

21.9

U.S. 2,106 2,114 2,2502,005

U.S. Wheat Supply and Use

Beginning stocksProduction Supply, TotalExports

Use, TotalEnding StocksAvg. farm price

3702,2502,7201,0252,225

495$4.60

million bushels

Kim’s08/09

4562,1142,6551,0752,293

362$5.40

USDA07/08

World Wheat Supply and Use

Beginning stocksProduction Supply, TotalUse, TotalEnding Stocks

4.1322.8026.9322.50

4.43

million bushels

Kim’s08/09

4.5922.4327.0222.80

4.22

USDA07/08

KCBT July ‘07

Freeze Rain

$4.70 -.40$4.30

CN08 ~3.92 + $0.40 = $4.32

U.S. and world wheat stocks remain tight KCBT & Basis imply higher Nov ’07 prices Going into harvest, prices will be relatively high Market ~$5.60 Kim ~$4.80 Corn ~$4.30

Important points