November 7, 2023

 

US wheat shipments hit 20-year low

 

 

 

US wheat shipments dropped to a two-decade low, hampered by a shrinking Mississippi River and competition from ample global grain supplies.

 

Drought has dried up the Mississippi, where roughly two-thirds of US grain exports historically have been shipped on barges to the US Gulf. Water levels have improved slightly from last month's record low, but the world's crop buyers have already been purchasing more supplies from elsewhere. That's limited demand for US grain and contributed to the country losing its status as the shipper of choice.

 

Export inspections of US wheat in the week ended November 2 totaled only 71,608 metric tonnes, with some wheat shipped from Duluth, Minnesota, through the Great Lakes but virtually nothing on the Mississippi River, according to the US Department of Agriculture.

 

- Bloomberg

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