Wheat shipments improve last week.

Sales of 339,598 tonnes of wheat export sales were reported for last week’s wheat activity. The trade estimate was -100,000 to +300,000. USDA’s 725 million bushel export goal, for the year that started June 1, is -20% from the five year average sale. Year to date sales are -16% from average. Based on sales we are ahead of USDA's goal.

But the shipment story remains a concern. Year to date shipments are -22%. Needed shipments through May need to improve to +21% from average. This week was +26%. Allendale is -10 million bushels vs. USDA. There are likely further declines ahead.

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