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US wheat inspected for exports down 23% on week, up 60% on year

US wheat inspected for exports down 23% on week, up 60% on year

US wheat inspected for export fell 23% to 630,402 mt in the week to April 25, but was up almost 60% on the year, data from the US Department of Agriculture show, within the range of analyst estimates of 400,000-850,000 mt.

Wheat inspected for export is wheat that has been sold and inspected during loading at export locations for shipment overseas.

The total volume of US wheat inspected for export in the 2018-19 marketing year to date, starting June 1, fell 2.4% on the year to 21.39 million mt.

The weekly volume inspected for export from the US Pacific Coast totaled 298,654 mt, including 158,328 mt of Hard Red Spring, 60,808 mt of Hard Red Winter and 79,518 mt of Soft White Mixed. The top destinations were Malaysia with 61,832 mt, Thailand with 58,357 mt, Philippines with 57,263 mt, Japan with 50,225 mt, South Korea with 46,062 mt and China with 24,915 mt.

The volume inspected for departure from the US Gulf Coast was 250,441 mt, including 24,162 mt of Hard Red Spring, 158,220 mt of Hard Red Winter, and 68,059 mt of Soft Red Winter. The top destinations were Nigeria with 94,917 mt, Mexico with 45,113 mt, Chile with 28,888 mt and Peru with 26,396 mt.

The USDA’s April report projected US wheat exports of 25.72 million mt for 2018-19.

Source :- Hellenicshippingnews.com

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