International Wheat Market
According to export inspection reports, total wheat exports for the week ending October 9 were 444,138 tonnes (16.32 million bushels). This is 18.99% lower than the previous week but 16.85% higher than the same week last year. Indonesia was the largest buyer with 77,936 tonnes, followed by Japan with 70,338 tonnes and Mexico with 68,856 tonnes. So far in the current marketing year, total wheat exports have reached 10.665 million tonnes (391.852 million bushels), up 18.11% compared to the same period last year. South Korea has issued a tender to purchase 95,000 tonnes of wheat from the U.S. and Canada, with bids due by Wednesday. Meanwhile, France’s Ministry of Agriculture has lowered its estimate for the country’s soft wheat crop to 33.2 million tonnes, down 0.1 million tonnes from last month. According to the European Commission, soft wheat exports from the EU totaled 5.51 million tonnes between July 1 and October 12, which is 1.61 million tonnes lower than the same period last year.