Files
Abstract
This report evaluates the U.S. and world wheat markets for the 2015-2024 time 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 high price levels in 2010, 2011 and early 2012 will not be maintained because they are the
result of a small wheat crop in 2010 and 2012 in the Former Soviet Union (FSU) and Argentina in
2012. The lower price levels for all commodities will also impact the wheat market. It is expected
that wheat production in the FSU will return to normal in the future. World trade volumes of both
durum and common wheat are expected to expand, but trade volume of common wheat may grow
faster than that of durum wheat.