US Wheat Exports Continue To Fall In Yet Another Low Production Year
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US Wheat production in 21/22 suffered from droughts and extreme heat, which led to low production and high prices. Additionally, with port infrastructure and the freight in crisis, agricultural exports decreased overall. At the end of 21/22, US Wheat exports continued to tumble, decreasing in Jan, Mar, Apr, & by up to 1.02 Mmt in May YoY. Despite increasing by 113 kmt YoY in Feb, US Wheat exports fell by ~ 2.6 Mmt between Jan & May YoY. In the first two months of 22/23 US Wheat exports continued to decrease by 130 & 800 kmtYoY in Jun & Jul, respectively, although exports were already underperforming in 21/22. Export conditions in 22/23 are similar to last year’s, with the addition of overwhelmingly non-competitive prices.
US Wheat Exports Between Jan & Jul 2022
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