International Wheat Market

07-Feb-2025 08:05 AM

International Wheat Market
The USDA released its weekly export sales report, which recorded a total of 438,867 metric tons of wheat sales for the week ending January 30. This was in line with the trader estimate of 200,000-550,000 metric tons. Mexico remained the top buyer, purchasing 122,000 metric tons, while 111,000 metric tons were sold to unknown destinations. Sales for 2025/26 stood at 47,296 metric tons, at the higher end of the 0-50,000 metric ton estimate.
Japan purchased 96,725 metric tons in its weekly tender from the US and Canada, with 64,545 metric tons specifically from the US. South Korean importers bought a total of 30,000 metric tons of US and Canadian wheat, with 22,700 metric tons specifically from the US.
Stats Canada will release its data on Friday morning, with traders estimating stocks on December 31 to be around 23 million metric tons.