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MGEX Research

RSS By: Joe Victor, AgWeb.com

Joe Victor is a Business Development Specialist with Minneapolis Grain Exchange, Inc., where he monitors cash grain activity and cash grain opportunities. He provides marketing advice through this blog.

Hard Red Spring Wheat Demand

Oct 07, 2011

Will domestic demand for Hard Red Spring Wheat (HRSW) increase or decrease going forward? What about export demands? Let’s look at history for a possible answer.
 100711
Dating back to the 1984-1985 market year, USDA data shows an increasing demand trend for total domestic use, including the 2011-2012 market year. In 1984-1985 the total domestic use of HRSW was 172 million bushels. That number increased to a high of  339 million bushels in 2000-2001. USDA estimates total domestic use in the 2011-12 market year of 277 million bushels. That represents an upward trend since the recent low of 202 million bushels in  2002-2003
 
As for HRSW exports, USDA estimates 2011-2012 market year exports to be 260 million bushels versus the average of the previous five years of 263 million bushels.  Within that timeframe, 2008-2009 recorded the lowest exports of 210 million bushels.
 
As the chart does show long term trend for total domestic use is increasing at a faster rate
than exports.
 
Also of interest, HRSW ending stocks since the 1985-1986 market year for HRSW have
trended lower.
 
 
 MGEX welcomes your questions.........Joe Victor
 
800.827.4746
 Information used to compile this update is from publicly available sources. Nothing contained herein should be construed as a trading recommendation of MGEX, its employee or its members. For informational purposes only.
 

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