2009 Outlook of the U.S. and World Wheat Industries, 2008-2018

This report evaluates the U.S. and world wheat markets for the 2008-2018 period using the Global Wheat Policy Simulation Model. This analysis is based on a series of assumptions about general economic conditions, agricultural policies, weather conditions, and technological change. Both the U.S. and world wheat economies are predicted to remain relatively healthy for the next ten years. World demand for both common and durum wheat are expected to remain strong. The price levels in 2007 and 2008 will not be maintained in 2009 and future because increased wheat and corn production in 2008 and reduced demand for corn for ethanol production will lower demand and increase supply. World trade volumes of both classes of wheat are expected to expand, but trade volume of common wheat may grow faster than that of durum wheat.