International Wheat Market

03-Apr-2025 08:09 AM

International Wheat Market
President Trump's "Liberation Day" tariffs have exempted Mexico and Canada, maintaining waivers for all USMCA-compliant goods. Japan will face a 24% countervailing tariff, South Korea 25%, and the Philippines 17%. These tariffs will take effect on April 9.
The USDA's Export Sales report for the week ending March 27 is expected to show net wheat sales for 2024/25 ranging from a 100,000 metric ton (MT) net reduction to net sales of 300,000 MT. New crop sales are estimated between 0 and 200,000 metric tons.
Weak price trends are not limited to the U.S. market, as French milling wheat futures are also trading near their lowest levels in recent months.