Wheat/USDA: USA reports cancellations of 109.6 thousand tons of the 2023/24 harvest in the week

Wheat

United States

Market & Price Trends

Published Mar 22, 2024

Tridge summary

US exporters have reported a record low in wheat sales from the 2023/24 harvest, with cancellations of 109.6 thousand tons in the week ending March 14, according to the Department of United States Agriculture (USDA). The main buyers were Japan, Mexico, Algeria, Dominican Republic, and Italy, but these sales were overshadowed by cancellations from China, Philippines, and South Korea. However, for the 2024/25 harvest, a sales balance of 285.9 thousand tons was reported. The total sales balance for both harvests was 176.3 thousand tons, which aligns with analysts' predictions.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

By Ana Ritti, with information from Dow Jones Newswires São Paulo, 03/21/2024 - United States exporters reported cancellations of sales of 109.6 thousand tons of wheat from the 2023/24 harvest, already discounted for sales, in the week ending March 14, the Department of United States Agriculture (USDA). The volume - the lowest recorded in the commercial year - represents a significant drop compared to the previous week and in relation to the average of the previous four weeks. The main buyers were Japan (62.2 thousand t), Mexico (50.1 thousand t), Algeria (34.7 thousand t), Dominican Republic (22.2 thousand t) and Italy (18.8 thousand t), which did not compensate for the cancellations made by China (262.7 thousand t), Philippines (34 thousand t) and South Korea (13.4 thousand t). For the 2024/25 harvest, exporters reported a sales balance of 285.9 thousand tons. The main buyers were the Philippines (94 thousand t), South Korea (65 thousand t), Thailand (54.5 thousand t), Panama ...

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