U.S. Wheat Industry Optimistic Amid Growing Export Sales

WASHINGTON, DC – Wheat growers are cautiously optimistic as export sales show signs of improvement in 2020. According to the U.S. Wheat Associates (USW), total wheat sales for this marketing year are 12 percent higher than last year and 15 percent above the five-year average. USDA estimates the United States should export 26.5 million metric tons in 2020/2021, which would be just a 1 percent year over year increase. To date, however, export sales of hard red winter (HRW), hard red spring (HRS), and white wheat (soft and hard) are significantly ahead of last year’s pace. Sales of soft red winter (SRW) and durum, however, are lagging. Success in individual markets such as China and Brazil due to policy changes is supporting overall sales. As in other markets though, competitive pricing early in the season helped fuel a faster import pace by the Philippines and South Korea.
(SOURCE: All Ag News)