International Wheat Market

01-Apr-2025 08:14 AM

International Wheat Market
According to individual state crop progress reports, the winter wheat crop condition in Kansas (KS) remained stable at 49% good/excellent (gd/ex), while the Brugler500 Index remained unchanged at 334.
In Texas (TX), the rating declined by 5% to 26% gd/ex, and the Brugler500 Index dropped by 3 points to 285.
The weekly NASS National Crop Progress Report will begin next Monday.
NASS recorded wheat stocks at 1.236 billion bushels as of March 1, which was 15 million bushels above the average trade estimate but within the expected range. This was 147 million bushels more than the same period last year.
The annual Prospective Plantings Report indicated an intended wheat planting area of 45.35 million acres, which is lower than the trade estimate of 46.53 million acres.
Winter wheat planting was recorded at 33.315 million acres, which is 800,000 acres less than the January Winter Wheat Seedings Report and 75,000 acres lower than last year.
Spring wheat planting intentions stood at 10.02 million acres, below the trade estimate of 10.531 million acres.
According to this morning’s FGIS export inspection report, a total of 435,644 metric tons (16.007 million bushels) of wheat were exported in the week ending March 27. This was 10.19% lower than the previous week and 13.46% lower than the same period last year.
Export Distribution:
Mexico: 76,142 metric tons
South Korea: 67,470 metric tons
Total shipments for the marketing year (since June 1, 2024) have reached 17.29 million metric tons (635.29 million bushels), which is 16.41% higher than the same period last year.