Despite expected record global wheat production and record world ending stocks in the current marketing year U.S. wheat exports are doing well in the global marketplace.  Acting World Agricultural Outlook Board Chair, Mark Jekanowski, said U.S. wheat exports are up 25 million bushels from November.

 

“We've seen strengthening prices out of the Black Sea region and out of Russia and that's been making our prices a little bit more competitive and that's really been driving as little bit of an up-tick in exports for us.”

 

That has contributed to a tightening of ending stocks month of over month.  Despite the changes in the ballot sheet, the season ending average price for wheat was lower a nickel to $4.55 a bushel.

 

“Mainly at what we're looking at there we're reduced our estimate for the season average price just based on data to date,” Jekanowski added.  “At this point about 65% of the crop is marketed and prices have been coming in a little bit lower than expected.”

 

 

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