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| Idaho Wheat Commission Announces Top Five Export Markets |
8/10/2009
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According to recently released statistics from the U.S. Department of Agriculture, Soft White wheat exported out of the Pacific Northwest for the 2008-09 marketing year ended at 134 million bushels down from the previous year’s 153 million bushels. Record world production coupled with increased competition impacted exports of all classes of U.S. wheat.
Although purchases made by quality based buyers of Soft White were slightly down from last year, exports were offset by increased sales to countries like Iran, which went from being virtually self-sufficient in wheat production to being the world’s second largest importer, purchasing 10.9 million bushels of Soft White from the PNW. Drought in the Middle East also increased Soft White wheat sales from the PNW.
Top Five Soft White Wheat Destinations for 2008-09
Japan remains the leader of the top five export markets for Soft White wheat with purchases of 27.6 million bushels. The Philippines ranked second with purchases of 22.3 million bushels. South Korea was next in line with purchases of 19.3 million bushels. Yemen and Indonesia were fourth and fifth respectively, purchasing 15.7 and 10.1 million bushels.
Early export projections for calendar year 2009-10 have been positive. Slow early-season export sales are expected to increase as U.S. prices become more competitive based on reduced competition. Although world wheat production inched up this month, Argentina, Canada and the Eu-27 are projected to be down.
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