USA: Snowfalls increase the export demand for hard wheat

Weekly export sales of US wheat, crop 2016, аre above the pessimistic expectations for the past week 0-150,000 tonnes.

For the week 21-27 April, sales amounted to 258,400 tonnes of current crop wheat and 563,400 tonnes of new crop wheat. The USDA forecast for annual US wheat export was met and surpassed by 0.2% to 27.97 mln. tonnes, given the forecast of 27.9 mln. tonnes.

Typically, the share of hard wheat sales out of the total figure for the current year prevails - 86%. These are precisely the crops that will suffer the greatest damage caused by the snowfall.

From the beginning of the season, export sales are by 38.6% more, compared to the previous year.

Weekly forward sales of wheat reach 536,400 tonnes, with expectations for 200,000-350,000 tonnes. In general new crop wheat sales reached 2.444 mln. tonnes, which is 4% less, compared to the previous year.

In the week the largest wheat buyers were the Philippines - 66,900 tonnes, Thailand - 52,000 tonnes, Nigeria - 32,600 tonnes, Malaysia - 30,700 tonnes, Mexico - 29,800 tonnes. Previously purchased quantities were refused by an unknown buyer - 113,200 tonnes, Costa Rica - 15,200 tonnes, Windward islands - 600 tonnes and Barbados 500 tonnes.

The largest recipients of wheat in the week were the Philippines - 164 900 tonnes, Japan - 115 700 tonnes, Mexico - 98 500 tonnes, Nigeria - 65 100 tonnes and Guatemala - 34 300 tonnes.