International Wheat Markets Overview

06-Dec-2024 08:18 AM

International Wheat Markets Overview
Weekly Export Sales Report
For the week ending November 28, total wheat export sales amounted to 378,232 MT, falling at the lower end of market estimates (250,000 to 550,000 MT) but representing a 3.12% increase from the prior week.
Mexico was the leading buyer with 151,900 MT.
South Korea followed, purchasing 136,000 MT.
October Shipment Data
Updated Census data reveals total wheat shipments in October reached 1.42 MMT (52.3 million bushels).
This marked a 42% decline from September's shipments.
However, it was 37.76% higher than October last year and represented a four-year high for the month.
Canada’s Wheat Production
According to Stats Canada, Canada’s total wheat production for 2023 was 34.958 MMT, slightly below the projected 35.04 MMT but reflecting a 6.1% increase compared to 2022.
Spring wheat production was reported at 26.07 MMT, marginally exceeding expectations.
Japanese Wheat Tender
Japan purchased 111,405 MT of wheat in its latest weekly tender from suppliers in the US, Australia, and Canada. Of this total, 56,945 MT was exclusively sourced from the United States.