International Wheat Market

27-Dec-2024 08:17 AM

International Wheat Market
The international wheat market is seeing notable activity and shifts in expectations:
Upcoming Export Sales Report: The trade anticipates wheat export sales for the week ending December 19 to range between 250,000 and 600,000 metric tons (MT). This data will provide insight into current demand and supply dynamics in the global market.
Algeria's Wheat Purchase: Algeria has significantly increased its wheat purchase to 1.17 million metric tons (MMT) in a recent tender, nearly doubling the previously reported volume of 630,000 MT. This surge indicates strong demand from Algeria, a key wheat importer.
Russian Wheat Export Forecast: Russia's IKAR agency projects that the country’s wheat exports may decline to 41 MMT by the 2025/26 marketing year. Additionally, Russia’s market share is expected to drop from 25% to 20%, suggesting increased competition or production challenges.
These developments highlight evolving trends in global wheat trade, influenced by geopolitical factors, production forecasts, and shifting importer priorities. The export sales report will be closely monitored for further implications.