US wheat exports gear for new markets

US wheat exports are aiming for Latin America, although global competition for wheat exports remains fierce, according to Vince Peterson, vice-president of overseas operations for US Wheat Associates (USW).

According to USW, the United States is enjoying a competitive edge in global wheat markets, even in politically volatile regions such as the Middle East. The US has a 25 percent market share in the region, and Middle East countries consume more wheat than any other region in the world.

He added that while US wheat stands is the go-to market for wheat, competition for wheat exports is stiff. He said the best Argentine wheat is on par with average US Hard Red Winter; while the best Russian wheat, despite lower protein and gluten characteristics than that of the US, is competitively priced.

Kazakhstan has high-quality Spring Wheat, but is land-locked, he said, as it is very expensive to get it out of there, so most of it is consumed within the region, within the former Soviet Union and surrounding countries.