Wheat

Kim’s web site for wheat market information agecon.okstate.edu/anderson

The price of wheat on June 20, 2007 KWN7 $4.60 W7 $4.41 HRW basis-$0.30 Are there any questions? $4.30 $4.00

Talking Points Price & weather Wheat Stocks Argentina & Australia Plantings  ’07 production Use – domestic, exports & world Price

Talking Points Price

KCBT nearby price

CBT nearby price

KCBT Dec price

CBT Dec price

Talking Points Price Wheat Stocks

Ending Stocks U.S. World 10-year average ‘06Std ,5404, ,000 Million Bushels

Talking Points Price Wheat stocks Argentina & Australia

Million Bushels 2006/ /06 5-yr avg. Argentina Australia

KCBT Dec price

Talking Points Price Wheat stocks Argentina & Australia Plantings & ’07 production

Seedings Class10-year avg.‘06Std.Guess HRW % SRW % million acres Other Spr % 14.5 Winter % 42.3 Total % 59.4

HRW wheat production area

SRW wheat production area

Other Spring Wheat

Yield Class10-year avg.‘06Std. HRW SRW Other Spr Winter Total bushel/acre Guess

Class10-year avg.‘06Std.Guess million bushels Production HRW SRW Other Spr Durham White Total2,154 1, ,100 2,

Production 10-year avg.‘06Std.Guess million bushels World 21,690 21, , U.S.2,1541, ,100 2,

Talking Points Price Wheat stocks Argentina & Australia Plantings Use – domestic & export

U.S. use 10-year average ‘06Std.Guess 1, Use Export Domestic 1,2401,14584 Total Use2,2682, ,165 2,173 Million Bushels 925 1,150 2,075

World use 10-year average ‘06Std.Guess Million Bushels 22,500 21,70522, ,113

Ending Stocks U.S. World 10-year average ‘06Std.Guess ,5304, ,000 Million Bushels 4,

Talking Points Price Wheat Stocks Argentina & Australia Plantings Use – Domestic & Exports Price

U.S. Wheat Supply and Use Beginning stocks Production Supply, Total Exports Use, Total Ending Stocks Avg. farm price 571 1,812 2, , $ ,105 2,727 1,009 2, $3.42 Million Bushels USDA 06/07 USDA 05/ bb

U.S. Wheat Supply and Use Beginning stocks Production Supply, Total Exports Use, Total Ending Stocks Avg. farm price 418 2,100 2, , ,812 2, , $4.35 Million Bushels Kim’s 07/08 USDA 06/07

U.S. ending stocks & price $3.40 $ Av ES 0.63 Av Price $3.32

U.S. ending stocks & price $3.40 $ Av ES 0.63 Av $ $3.32 $

U.S. Wheat Supply and Use Beginning stocks Production Supply, Total Exports Use, Total Ending Stocks Avg. farm price 571 1,812 2, , $4.35 Million Bushels Kim’s 07/08 USDA 06/ bb 418 2,100 2, , $3.60

 U.S. and world wheat stocks remain tight  540 m.b. ending stocks  $3.40  430 m.b. ending stocks  $4.30  Going into harvest, prices will be relatively high  Foreign crop determine ’07/08 mkting yr trend  Ethanol production changing market Important points