Commodities
US Wheat Export Sales Slump Amid Mid-September Slowdown
US wheat export sales slowed in mid-September, according to data from USDA FAS. The week ended September 17 saw new-crop wheat exports totaling 267.6 thousand tons, down 18% from the previous week and 13% below the four-week average.
Mexico remained the largest buyer of US wheat, purchasing 113.4 thousand tons, followed by Japan with 87.6 thousand tons and Vietnam with 60 thousand tons. Despite a decline in sales, Mexico continued to be the main destination for physical shipments at 160 thousand tons.
The slowdown in export sales and actual shipments is evident as US wheat exports fell 23% week-over-week and 19% below the four-week average.