International Wheat Market

19-Dec-2024 08:11 AM

International Wheat Market
USDA Export Sales Report
Timing: Thursday morning release.
Expectations:
For the 2024/25 marketing year: Wheat export sales are anticipated to range between 225,000 MT and 550,000 MT.
For the 2025/26 marketing year: A minimal range of 0–50,000 MT is expected.
South Korea's Tender
A South Korean importer has issued a tender for 90,000 MT of wheat.
50,000 MT of the total is sought specifically from the United States.
The remainder will likely be sourced from Canada or other potential suppliers.
French Wheat Exports
FrenchAgriMer Updates for 2024/25:
Soft wheat exports within the EU are projected to rise to 6.16 MMT, reflecting an increase of 0.26 MMT from the previous month's forecast.
Soft wheat exports outside the EU are expected to decline to 3.5 MMT, a decrease of 0.4 MMT from last month's estimate.
Market Implications
The USDA export sales data will be critical in shaping short-term price trends and trade sentiment.
South Korea's targeted purchases, particularly from the US, may lend some support to US wheat prices.
Adjustments in French wheat export estimates indicate shifting trade flows within and outside the EU, which could influence regional supply and pricing dynamics.