International Wheat Market

22-Apr-2025 08:21 AM

International Wheat Market
As per the weekly Crop Progress Report, 17% of spring wheat has been planted, ahead of the 5-year average of 12%. 2% of the crop has emerged, which is on par with the normal pace.
15% of the winter wheat crop is headed, which is 2 percentage points ahead of the norm. However, crop quality ratings dropped by 2% to 45% good/excellent. The Brugler500 Index fell by 4 points to 325.
The upcoming week is expected to bring significant precipitation across the Plains, from Texas to South Dakota, which could influence crop conditions.
According to USDA's Export Inspection Report, 510,250 metric tons (18.75 million bushels) of wheat were exported in the week ending April 17. That’s down 16.55% from the previous week but up 13.31% compared to the same week last year.
Top export destinations included Vietnam (133,547 MT), Mexico (89,273 MT), and the Philippines (64,683 MT).
So far in the marketing year, total wheat exports have reached 18.81 MMT (691.24 million bushels), 14.43% higher than last year’s pace.
CFTC data shows that speculators reduced their net short position in CBT wheat by 5,693 contracts, bringing it to 96,439 contracts. In KC wheat, the net short position was reduced by 2,462 contracts to 47,372 contracts as of April 15.