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Summary of World Markets
- Exports down among traditional suppliers.
- New production areas competing for export market.
- FSU & Black Sea producers will be long-term competitors.
- World wheat stocks at 20-year low.
- Lower wheat prices with periodic rallies.
Outlook for Idaho Wheat Growers
- Compete on quality and customer satisfaction, not price.
- Focus on varieties customers want to mill.
- N. Idaho growers – export through Portland.
- S. Idaho growers – Utah, S. California, Mexico, Portland, local mills, customer specific varieties.
World Outlook Highlights
- Global wheat supply tightens U.S. production and exports forecast at 18-year low
- Crop shortfalls restrain top 4 exporters
- EU remains major importer but exports rebound
- Non-traditional exporters continue to compete with the major exporters and restrain prices
- Chinese imports limited by large stocks
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