International Wheat Market

28-May-2025 08:13 AM

International Wheat Market
According to weekly crop progress data, 87% of the spring wheat crop has been planted, 7% ahead of the normal pace, and 60% has emerged. The initial spring wheat quality rating came in at 45% good or excellent, well below the trade estimate of 70%. This results in a Brugler500 index score of 326, marking the weakest start since 1988.
75% of the winter wheat crop is now heading, ahead of the 5-year average of 70%. The crop's condition dropped by 2% to 50% good or excellent, below the 52% expectation. This results in a Brugler500 index score of 332, down 4 points from last week.
According to USDA export inspection data, 561,980 metric tons (20.65 million bushels) of wheat were shipped in the week ending May 22. This is 30.29% higher than the previous week and 40.88% above the same week in 2024. South Korea was the top destination with 133,130 MT, followed by Indonesia (67,957 MT) and Venezuela (57,759 MT). Total exports for the marketing year have reached 21.27 million metric tons (718.6 million bushels), which is 16.28% higher than the same period last year. A little more than a week remains in the current marketing year.