Wheat export shipments remain a problem.

USDA reported 223,521 tonnes for last week’s wheat export sales. The trade estimate was 300,000 – 550,000. USDA’s 725 million bushel export goal, for the year that started June 1, is -19% from the five year average sale. Year to date sales are -13% from average. To hit USDA's goal we only need to sell -65% vs. average through May. This week was -38% from average. The general 30 week trend, highly variable, has averaged +1%. Sales are ahead of USDA's goal.

But the shipment story remains a concern. Year to date shipments are -23%. Needed shipments through May need to improve to +20% from average. This week was -21%. Allendale is -10 million bushels vs. USDA and will likely lower that in the coming weeks.

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