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US wheat net sales rise 11% on week, China books largest volume

Highlights

US wheat sales commitments for 2021-22 at 7.6 mil mt so far

Mexico largest buyer so far in 2021-22

Exports of winter wheat varieties gather pace on week

US net wheat sales totaled 473,200 mt in the week ended July 15, up 11% from the previous week, US Department of Agriculture data showed July 22.

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During the week, China bought the largest quantity from the US, followed by the Philippines and Mexico.

The total marketing year 2021-22 (June-May) commitment for US wheat rose 6.7% on the week to reach 7.6 million mt as of July 15, the data showed.

For MY2021-22, the USDA estimated US wheat sales will reach 23.8 million mt, against 27 million mt in the previous year, according to the World Agricultural Supply and Demand Estimates report released on July 12.

Mexico has committed to buy 1.3 million mt over the 2021-22 marketing year, followed by the Philippines at 1.2 million mt and Japan at 812,700 mt.

China has committed to purchase 483,400 mt from the US so far in the current marketing year, the data showed. The country was the second-largest buyer in MY2020-21, with imports of over 3.2 million mt.

China has been buying grains in bulk quantities since early 2020 as it continues to build its own domestic buffer amid a recovery in its pig population, which has been raising demand.

During the week, sales of hard and soft red winter varieties of wheat gathered pace. Exports of hard red winter wheat rose over 42% on week to 119,500 mt, similarly sales of soft red winter wheat rose 27.3% over the week to 101,700 mt.

Weekly US wheat net export sales: Top 5 destinations

Reported in the week ended July 15, 2021

Country

Volume (mt)

China

135,300

The Philippines

122,800

Mexico

118,400

Nigeria

43,700

Ecuador

41,800

Source: USDA

US wheat total commitments: Top 5 destinations

Reported in the week ended July 15, 2021

Mexico

1,270,600

The Philippines

1,203,600

Japan

812,700

China

483,400

South Korea

451,000

Source: USDA