Wheat shipments remain a moderate concern.

USDA reported 327,279 tonnes for last week’s wheat export sales. The trade estimate was 200,000 – 500,000. 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 -74% vs. average through May. This week was -17% from average. The general 31 week trend, highly variable, has averaged +1%. Based on sales  we 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 +22% from average. This week was +2%. Allendale is -10 million bushels vs. USDA for Friday's WASDE report.

‍