International Wheat Market

21-Feb-2025 08:21 AM

International Wheat Market
The USDA's weekly export sales report is set to be released on Friday morning, with traders expecting wheat bookings for the week ending February 13 to range between 300,000 and 600,000 metric tons. New crop sales are likely to remain between 0 and 50,000 metric tons.
Taiwanese importers purchased a total of 102,450 metric tons of U.S. wheat in their tender on Thursday morning. In Japan’s weekly tender on Thursday, 96,160 metric tons of wheat were bought, with 34,890 metric tons being U.S. wheat, while the remainder was sourced from Canada and Australia.
Data released by the International Grains Council (IGC) on Thursday showed a 1 million metric ton increase in global wheat production, now at 797 million metric tons. However, stocks were reduced by 1 million metric tons to 264 million metric tons due to increased consumption.