International Wheat Market

12-Jun-2025 08:14 AM

International Wheat Market
For the week ending June 5, the trade is expecting net reductions of 100,000 metric tons to net sales of 500,000 metric tons for the 2024/25 marketing year, with only two days included for the old marketing year. New crop sales are estimated between 400,000 and 600,000 metric tons. A Bloomberg survey of analysts estimates that wheat production ahead of Thursday’s crop progress report could rise by 3 million bushels to 1.924 billion bushels. Most of this increase is likely to come from the winter wheat crop, expected to rise by nearly 8 million bushels to 1.389 billion bushels. The HRW crop is seen up 4 million bushels to 755 million, the SRW crop up 2 million bushels to 346 million, and white wheat production is expected to remain steady at 253 million bushels. US old crop wheat stocks are expected to rise by 4 million bushels to 845 million, while new crop stocks could increase by 2 million bushels to 925 million. Globally, old crop stocks are projected to decline by 0.3 million metric tons to 264.9 million metric tons, while new crop stocks are seen 0.7 million metric tons lower at an average of 265 million metric tons. Taiwan importers have issued a tender for 95,450 metric tons of wheat from the US. Argentina’s wheat production is estimated at 20.7 million metric tons by the Rosario Grains Exchange, down from their previous estimate of 21 million metric tons.