Buyers are on the lockout for US spring wheat

23 Jun, 2017
Buyers are on the lockout for US spring wheat
Weekly export sales of US wheat, 2017 crop exceeded the most optimistic market expectations(300,000 – 500,000 tonnes). Weekly sales reached 542,900 tonnes, while export amounted to 717,800 tonnes.

Despite the growth of quotes, buyers were looking for spring wheat that was rising the quickest.

Total wheat sales from 2017 to 2018 exceed those of 2016-2017 by 7.6% given  6.9% a week earlier.

Major buyers in the week were Japan 196,500 tonnes, Taiwan 94,900 tonnes, the Philippines 81,000 tonnes, Algeria 59,500 tonnes, Thailand 45,500 tonnes. An unknown buyer cancelled old contracts - 114,300 tonnes, Indonesia 5,000 tonnes and Belize 1,700 tonnes.

Major recipients of wheat were South Africa 119,900 tonnes, the Philippines 113,000 tonnes, Algeria 89,500 tonnes, Japan 73,200 tonnes and China 62,600 tonnes.