Wheat – International News
According to this week’s NASS Crop Progress report, 27% of the US winter wheat crop had been planted as of Sunday. The planting pace was 7 percentage points behind the five-year average. Emergence stood at 8%.
Monday morning’s Export Inspections report showed US wheat shipments of 310,635 MT (11.41 million bushels) during the week ending September 24. This was 8.62% lower than the previous week and 64.44% below the same week last year.
The Philippines was the largest destination at 120,999 MT, followed by Mexico at 68,640 MT and Nigeria at 54,999 MT.
Marketing-year wheat shipments have now reached 6.343 MMT (233.47 million bushels), which is 34.42% below the same period last year.
NASS will release its quarterly Grain Stocks report on Wednesday. Analysts surveyed by Reuters expect US wheat stocks as of September 1 to be 1.857 billion bushels. If realized, this would be 277 million bushels below last year.
