Wheat Export Pace Remains Strong

Seven months into the 2020-2021 marketing year, USDA forecasts total wheat exports will reach 26.8 million metric tons which, if realized, would be two percent higher than the previous year. 

U.S. Wheat Dot Org says that number would also be seven percent higher than the five-year average. 

As of December 24, U.S wheat commercial sales were nine percent ahead of last year’s pace at 20.6 million metric tons, led by hard red winter wheat, hard red spring wheat, and white wheat (soft and hard). 

Total hard red winter wheat sales of 7.1 million metric tons are three percent ahead of last year and seven percent above the five-year average. 

Significantly increased exports to Nigeria and China offset reduced sales to Mexico, typically the largest market for hard red winter wheat. 

Total hard red spring wheat sales of 5.78 MMT are nine percent ahead of last year and four percent ahead of the five-year average. 

HRS sales to the Philippines and Japan are up five and six percent, respectively. 

Total white wheat sales, represented mainly by soft white wheat, are 47 percent ahead of the previous year’s pace at 5.52 MMT and 49 percent of the five-year average.

(Story Courtesy of the NAFB News Service)