International Wheat Market
21-Mar-2025 08:36 AM
International Wheat Market
According to the USDA’s Export Sales report, the current marketing year (MY) recorded the lowest sales so far, with net reductions totaling 248,849 metric tons (MT). This figure fell significantly short of the estimated old crop sales range of 300,000 to 700,000 MT.
Vietnam purchased 69,500 MT, while Indonesia bought 62,000 MT. Panama canceled 272,900 MT, and net reductions for unknown destinations totaled 123,800 MT.
New crop bookings came in strong at 491,092 MT, well above the expected range of 25,000 to 100,000 MT.
According to the International Grains Council’s (IGC) monthly report, global wheat production for 2024/25 has been raised by 2 MMT to 799 MMT, while stocks increased by 1 MMT to 265 MMT.
The initial outlook for 2025/26 shows an 8 MMT year-on-year increase in production; however, rising consumption is expected to bring ending stocks down by 6 MMT to 259 MMT.