Wheat sales vs. shipment disparity remains.

USDA reported 378,399 tonnes for last week’s wheat export sales. The trade estimate was 275,000 – 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 -55% vs. average through May. This week was just fine at -8% from average. The general 28 week trend, highly variable, has averaged +2%. Sales are ahead.

But the shipment story remains a concern. Year to date shipments are -24%. Needed shipments through May would be +16% from average. This week was -31%. Allendale is -10 million bushels vs. USDA.

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