US wheat inspected for exports up 74% on week

New Delhi — US wheat inspected for exports for the week ended April 9 rose 73.8% on the week to 608,709 mt, Department of Agriculture data showed Monday.

"We saw active shipments through the Pacific Northwest to Asian buyers trying to take delivery of previous purchases ahead of the end of the marketing year next month," said Arlan Suderman, chief commodities economist at INTL FCStone.

Wheat market year in the US begins June 1.

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

The volume of US wheat inspected for the reporting week was 15.1% higher than the volume inspected in the same period a year ago.

The total volume of US wheat inspected for exports so far in the 2019-20 market year rose 7.5% on the year to 21.44 million mt.

The volume of US wheat inspected for departure from the US Pacific Coast for the week totaled 475,620 mt, comprising 206,447 mt of Hard Red Spring, 142,561 mt of Soft White, 65,782 mt of Mixed, 49,271 mt of Hard Red Winter and 11,559 mt of Durum.

Top destinations for wheat inspected for departure from the Pacific Coast were Philippines with 120,629 mt, Myanmar with 71,084 mt, South Korea with 65,782 mt and Japan with 60,076 mt.

For departure from the Gulf Coast, the US wheat inspected volume was 92,563 mt, comprising 42,575 mt of Hard Red Winter, 32,823 mt of Soft Red Winter, 15,047 mt of Hard Red Spring and 2,118 mt of Durum.

Top destinations for wheat inspection for departure from the Gulf Coast were Mexico with 45,001 mt, Panama with 23,938 mt and Ecuador with 18,623 mt.

The USDA has projected wheat exports by the US at 27.22 million mt for 2019-20.

PRIVATE EXPORTERS' SALES

Private exporters Monday reported to the USDA export sales of 120,000 mt of Hard Red Winter wheat for delivery to unknown destination.

Of the total, 60,000 mt is for delivery during the 2019-20 marketing year and 60,000 mt is for delivery during the 2020-21 marketing year.

This follows a 165,000-mt sale of Hard Red Winter wheat from the US to China on Friday.