美国农业部-美股-农业行业-小麦展望全球贸易削减对俄罗斯的新限制减少对美国的出口-20200413-12页.pdf
《美国农业部-美股-农业行业-小麦展望全球贸易削减对俄罗斯的新限制减少对美国的出口-20200413-12页.pdf》由会员分享,可在线阅读,更多相关《美国农业部-美股-农业行业-小麦展望全球贸易削减对俄罗斯的新限制减少对美国的出口-20200413-12页.pdf(14页珍藏版)》请在启牛文库网上搜索。
1、 Approved by USDAs World Agricultural Outlook Board Wheat Outlook Jennifer K.Bond,Coordinator Global Trade Cut on New Restrictions for Russia and Reduced Exports for U.S.On April 2,2020,the Government of the Russian Federation imposed a 7-million-metric ton quota on total exports of wheat and other
2、grains until June 30,2020.This binding restriction combines with strengthening Black Sea prices to reduce the 2019/20 wheat export forecast for Russia by 1.5 million tons to 33.5 million(fig.1).Surging domestic wheat prices and a relatively strong dollar have also created headwinds for U.S.exports,l
3、owered 0.4 million tons to 27.1 million.The European Union(EU)and Australia are the only major wheat exporters whose exports are raised month-to-month.On reduced competition from Russia and continued competitive prices,EU wheat exports are raised 1.5 million tons to 33.5 million.Australias exports a
4、re increased 0.3 million tons to 8.5 million on a stronger than expected export pace.160170180190200210220230240250260Black Sea MillingUS HRW(11.5%),GulfEU(France)Grade 1,RouenNote:EU wheat is Grade 1,Rouen;US HRW is Gulf hard red winter wheat(11.5%protein).Black Sea wheat is milling quality.Source:
5、International Grains Council.Figure 1U.S.wheat prices remain above most key exporters,European Union wheat price near lowest(Dollars/metric ton)Economic Research Service|Situation and Outlook Report Next release is May 14,2020 WHS-20d|April 13,2020 In this report:-Domestic Outlook-International Outl
6、ook 每日免费获取报告1、每日微信群内分享7+最新重磅报告;2、每日分享当日华尔街日报、金融时报;3、每周分享经济学人4、行研报告均为公开版,权利归原作者所有,起点财经仅分发做内部学习。扫一扫二维码关注公号回复:研究报告加入“起点财经”微信群。2 Wheat Outlook,WHS-20d,April 13,2020 USDA,Economic Research Service Domestic Outlook Domestic Changes at a Glance:U.S.exports are lowered 15 million bushels to 985 million on t
7、he recently slowing pace of U.S.international sales and increasingly competitive prices for the European Union and other key exporting nations.U.S.all-wheat feed and residual use is trimmed 15 million bushels on lower-than-expected second and third quarter disappearance,an increasing wheat-to-corn p
8、rice ratio,and increased availability of corn because of greatly reduced ethanol demand.Resulting ending stocks are increased 30 million bushels to 970 million on reduced use.Despite a lower stocks-to-use ratio,the season average farm price is raised 5 cents to$4.60 per bushel.o Recently,cash and fu
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