Weekly export sales report came out Thursday at 7:30 AM Central Time with a swath of bearish demand numbers. Wheat export sales last week were 484 TMT, down 46% from the week prior and 25% under the four week average. All the buyers were small lot feed quality purchases, with no big buyers of wheat for human consumption. The world's big monthly buyer, Egypt, was absent from the list. They're boasting a 90 day current wheat supply to carry them until the world winter wheat crop comes to harvest in May out of the European Union, US and Black Sea regions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
