International Wheat Market

09-May-2025 08:25 AM

International Wheat Market
This morning’s weekly Export Sales report showed a total of 69,659 MT of wheat sold for the week ending May 1. Mexico purchased 37,300 MT. New crop sales came in at 492,978 MT—exceeding expectations and setting a marketing year high for 2025/26. That figure was more than double the previous week. Unknown destinations accounted for 183,500 MT, and South Korea purchased 100,800 MT.
On Monday, USDA will release its first WASDE report for the 2025/26 marketing year, including balance sheets. Analysts expect old crop U.S. ending stocks to come in at 850 million bushels (mbu), up 4 mbu from last month, while new crop stocks are projected at 863 mbu.
Overnight, Taiwan mill importers purchased 99,200 MT of U.S. wheat.
Statistics Canada reported this morning that wheat stocks at the end of March totaled 15.421 MMT, down 1.2% from last year.