International Wheat Market

05-Mar-2025 08:15 AM

International Wheat Market
The USDA reported this morning a private export sale of 130,000 metric tons of white wheat to South Korea for 2024/25 shipment.
President Trump has imposed a 25% tariff on Mexico and Canada. Mexico has set a deadline until Sunday to respond, with its president considering both tariff and non-tariff measures. Canada has imposed a 25% tariff on U.S. goods worth 30 billion Canadian dollars. Later, Commerce Secretary Lutnick indicated that a potential tariff reduction announcement could come on Wednesday.
In response to the additional 10% tariff on Chinese goods, China has imposed a 15% tariff on U.S. wheat imports. China has 0 metric tons of wheat in its books and has received a total of 139,119 metric tons of wheat shipments so far this year.
The European Union's total wheat exports from July 1 to March 2 amounted to 13.93 million metric tons, compared to 22.04 million metric tons during the same period last year. Japan has issued a tender to purchase 94,282 metric tons of wheat from the U.S., Canada, and Australia, of which 35,882 metric tons will be specifically sourced from the U.S.