World coarse grain ending stocks in 2010/11 are projected to decline 18% from the levels of the previous marketing year.
World grain prices are likely to continue to be supported in 2010/11 by a combination of supply-demand factors, including…
Continued growth in World usage combined with at least moderately tighter ending stocks-to-use in 2010/11 for coarse grains, wheat and oilseeds
Anticipation of strong competition for U.S. crop acreage in the spring of 2011 between corn, soybeans and other crops·
Tightening World supplies of food quality wheat following 2010 harvest problems in the Black Sea region, eastern Australia and Canada – with subsequent competition to purchase remaining food quality wheat supplies from the United States and elsewhere for the remainder of 2010/11·
Source: Kansas State University Department of Agricultural Economics