Wheat Export Pace Remains Strong

Seven months into the 2020-2021 marketing year, USDA forecasts total wheat exports will reach 26.8 million metric tons which, if realized, would be 2% higher than the previous year. USWheat.org says that number would also be 7% higher than the five-year average.

As of December 24, U.S wheat commercial sales were 9% ahead of last year’s pace at 20.6 million metric tons, led by hard red winter wheat, hard red spring wheat, and white wheat (soft and hard). Total hard red winter wheat sales of 7.1 million metric tons are 3% ahead of last year and 7% above the five-year average.

Significantly increased exports to Nigeria and China offset reduced sales to Mexico, typically the largest market for hard red winter wheat.

Total hard red spring wheat sales of 5.78 MMT are 9% ahead of last year and 4% ahead of the five-year average. HRS sales to the Philippines and Japan are up 5% and 6%, respectively. Total white wheat sales, represented mainly by soft white wheat, are 47% percent ahead of the previous year’s pace at 5.52 MMT and 49% of the five-year average.

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