Wheat

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

The price of wheat on June 20, 2008 KWN7 $5.40 HRW basis-$0.40 Are there any questions? $5.00

Talking Points Price & weather Argentina & Australia Wheat Stocks Plantings  ’08 production Use – domestic, exports & world Price

Talking Points Price & weather

KCBT nearby price

KCBT Dec price

Talking Points Price & weather Argentina & Australia Price & weather Argentina & Australia

Million Bushels 2006/ /08 5-yr avg. Argentina Australia

Talking Points Price & weather Argentina & Australia Wheat Stocks Price & weather Argentina & Australia Wheat Stocks

Ending Stocks U.S. World 5-year average 2006/ ,320 4,589 Million Bushels 2007/ ,217

Talking Points Price Wheat stocks Argentina & Australia Plantings & ’08 production

Corn

Soybeans

HRW wheat production area

Corn

SRW wheat production area

Soybeans

Other Spring Wheat excl. Durham

Durham

White Winter Wheat

KCBT July ‘08 $ $5.19

Seedings Class5-year avg.‘07Std.Guess HRW SRW million acres Other Spr Winter Total

Yield Class5-year avg.‘07Std. HRW SRW Other Spr Winter Total bushel/acre Guess

Class5-year avg.‘07Std.Guess million bushels Production HRW SRW Other Spr Durham White Total2,106 2, ,150 2,

Production 5-year avg.‘07Std.Guess million bushels World 21,720 22, , U.S.2,1062, ,200 2,005

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

U.S. use 5-year average ‘07Std.Guess 1, Use Export Domestic 1,1531,12684 Total Use2,1522, ,165 2,173 million mushels 1,000 1,150 2,150

World use 5-year average ‘07Std.Guess million bushels 22,500 22,35922, ,113

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 460 2,115 2,635 1,075 2, $ ,812 2, , $4.26 million bushels USDA 07/08 USDA 06/ bb

U.S. Wheat Supply and Use Beginning stocks Production Supply, Total Exports Use, Total Ending Stocks Avg. farm price 410 2,150 2,660 1,025 2, million bushels Kim’s 08/ ,115 2,635 1,075 2, $5.40 USDA 07/08

World Wheat Supply and Use Beginning stocks Production Supply, Total Use, Total Ending Stocks million bushels Kim’s 08/ USDA 07/08

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 $

0.540 $3.40 $ Av ES 0.63 Av $ $3.32 $ U.S. ending stocks & price

KCBT July ‘07 Freeze Rain $ $4.30

U.S. Wheat Supply and Use Beginning stocks Production Supply, Total Exports Use, Total Ending Stocks Avg. farm price 410 2,150 2,660 1,025 2, $4.50 million bushels Kim’s 08/ ,115 2,635 1,075 2, $5.40 USDA 07/08

 U.S. and world wheat stocks remain tight  520 m.b. ending stocks  $4.30  430 m.b. ending stocks  $5.00  Going into harvest, prices will be relatively high  Foreign crop determine ’07/08 mkting yr trend  Ethanol production changing market Important points