October 25, 2004

US Wheat Exports Keep Pace

Despite USDA predictions for less US wheat exports this marketing year, known commercial sales are still higher than they were at this same point last year.

That is not to say that things may not slow down, but US wheat exports are solid so far.

The USDA export sales report shows known commercial sales of 15,211,900 metric tons since June 1, compared to 15,140,800 at this time last year.

USDA's latest supply and demand report projected total marketing year US wheat exports of 26.54 million metric tons this year, a 16 percent drop from the 31.56 million MT exported last year.

Sales of hard red spring wheat are up 20 percent over last year's pace, with China and the Philippines registering notably larger sales this year.

Soft red winter wheat sales are up 16 percent, with most of the increase coming from good sales to China.

White wheat sales are also up, coming in 23 percent higher so far.