International Wheat Market

07-Mar-2025 08:08 AM

International Wheat Market
After several days of trade talks, President Trump has decided to pause all tariffs under the USMCA trade agreement with Mexico and Canada for another month. Canada has also postponed the planned tariffs on $125 billion worth of U.S. goods until April 2.
According to export sales data, total wheat sales for the week ending 2/27 were recorded at 338,703 metric tons (MT), which was in the middle of estimates. This was 25.91% higher than the previous week and 24.92% higher than the same week last year. Mexico purchased 91,900 MT, while the Philippines bought 66,600 MT. New crop sales totaled 77,000 MT, exceeding estimates.
According to monthly Census data, U.S. wheat exports in January stood at 1.313 million metric tons (MMT) (48.26 million bushels), the lowest January total since 1972. This was down 20.53% from last year and 9.4% lower than December.
South Korean importers purchased a total of 98,200 MT of wheat from the U.S. and Canada overnight, with 50,000 MT specifically from the U.S.