International Wheat Market

06-May-2025 08:20 AM

International Wheat Market
Weekly Export Inspections data showed that 310,326 metric tons (11.4 million bushels) of wheat were shipped during the week ending May 1. This was down 42.2% from the prior week and 8.48% below the same week last year. Mexico was the largest destination with 117,775 MT, followed by the Philippines with 105,015 MT.
So far this marketing year, total exports have reached 19.772 million metric tons (726.5 million bushels), an increase of 14.41% over the same week last year.
According to the Crop Progress report, 44% of spring wheat had been planted as of May 4, ahead of the 34% average pace. Emergence was at 13%, which is 4 percentage points above normal.
Winter wheat condition ratings showed 51% as good/excellent, up 2% from last year. The Brugler500 index remained steady at 334 despite the shift in ratings.
Taiwan mills purchased a total of 68,650 metric tons of wheat from the U.S. overnight. IKAR raised its estimate for the Russian wheat crop to 83.8 million metric tons, up 1.3 MMT from their previous estimate.