US sells 250,100 t of wheat for the 2020/21 harvest this week, says USDA

US sells 250,100 t of wheat for the 2020/21 harvest this week, says USDA
US sells 250,100 t of wheat for the 2020/21 harvest this week, says USDA
São Paulo, 1 – United States exporters sold 250,100 tonnes of wheat from the 2020/21 harvest in the week ended March 25, the country’s Department of Agriculture (USDA) said in a report released on Thursday. The volume is 27% lower than that recorded in the previous week and 22% lower than the average of the previous four weeks.

The main buyers this week were China (130,000 t), Philippines (123,300 t), South Korea (104,000 t), Bangladesh (55,000 t) and Algeria (30,000 t), which offset cancellations made mainly by undisclosed destinations (120 thousand tons) and Indonesia (114.9 thousand tons).

For the 2021/22 season, 81 thousand tons were sold to the Philippines (52 thousand tons), South Korea (21 thousand tons) and Mexico (8 thousand tons).

The result of the sum of the two harvests was within the estimates made by analysts consulted by Dow Jones Newswires, which expected sales between 200 thousand tons and 500 thousand tons.

Shipments for the period totaled 268,700 tonnes, a decrease of 59% compared to the previous week and 51% less than the average of the previous four weeks. The main destinations were Nigeria (80,100 t), Philippines (58,300 t), Japan (30,600 t), Dominican Republic (27,100 t) and Vietnam (26,000 t).

(With information from Dow Jones Newswires)

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