Biofuels Business - August, 2011 - (Page 11)

BIOFUELSMARKETREVIEW Flooding and prolonged wet conditions have hurt spring wheat production in the U.S. Hard red spring wheat is down 66 million bushels from last year, with wet weather slowing crop development and delaying planting. Durum wheat is down 43 million bushels from last year due to excessive moisture and cool temperatures that led to late seeding and prevented some plantings. Spring wheat conditions are down compared to last year, with 73% rat- and down 7.78 million tonnes, or 4%, from 189.97 million tonnes estimated for 2010-11. Revisions in stock estimates for the U.S., Argentina, Canada and Ukraine offset a signiﬁcant cut in projected stocks in the E.U., the IGC said. Reduced production in the E.U. lowered the stock forecast by 2.1 million tonnes to 10.1 million tonnes. U.S. carryover in June 2012 is estimated at 670 million bushels, down 191 million bushels (21%) from an upwardly revised 861 million bushels in 2011, USDA said. We want your feedback. Send comments and inquiries to BioEditor@sosland.com. For reprints of BFB articles, e-mail reprints@sosland.com World consumption of wheat is estimated at 670 million tonnes, 10 million tonnes higher than last year. ed as good to excellent, compared to 83% last year, and 4% rated poor to very poor this year, compared to 4% in 2010, USDA said. CONSUMPTION INCREASE World consumption of wheat is estimated at 670 million tonnes, roughly 10 million tonnes higher than last year, according to IGC. Most of the increase is to due to a 21-year high for feed use, which is estimated at 119.1 million tonnes. Most of the feed increase is expected in Far East Asia, where wheat is expected to replace corn in manufactured feeds. China is expected to use more, mostly for livestock feed, as well as the E.U., which has extended the quota-based import tariff on low/medium grade wheat until the end of 2011. Feed wheat use also is forecast to increase in the U.S., South Korea, the Philippines, Thailand, Vietnam and Israel, IGC said. Global industrial use is expected to reach a record of 21 million tonnes, led by expanding use for ethanol in the E.U. Food consumption is forecast to increase 1.2% to 461.4 million tonnes. The USDA reported in July that world wheat ending stocks for 201112 were projected at 182.19 million tonnes, down 2.07 million from June Alternative fuel producers demand the best, most reliable means possible to move their products to market. ARI is a premier builder of tank cars for biodiesel and ethanol, and covered hopper cars for DDGs. We work every day to better understand our customers’ needs and to find innovative solutions for the future. AMERICAN RAILCAR INDUSTRIES, INC. 100 Clark Street, St. Charles, Missouri 63301 636.940.6020 • FAX: 636.940.6100 www.americanrailcar.com • sales@americanrailcar.com For more information, see Page 20. www.BioFuelsBusiness.com I BIOFUELS BUSINESS I August 2011 11 http://www.americanrailcar.com http://www.BioFuelsBusiness.com

Table of Contents for the Digital Edition of Biofuels Business - August, 2011

Biofuels Business - August, 2011
CONTENTS
Growing in a recession
CALENDAR OF EVENTS
BIOFUELS BUSINESS NEWS
BIOFUELS MARKET REVIEW - Wheat
COUNTRY FOCUS - Focus on Costa Rica
FEATURE - Making the Deal
PRODUCTS & EQUIPMENT
SUPPLIER NEWS
AD INDEX

Biofuels Business - August, 2011