The first predictions for global wheat supplies and demand in the new U.S. marketing year (June 1, 2021, to May 31, 2022) are in. Most estimates call for relatively stable world supplies in 2021/22. Only…
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JOURNEY’S START: Kansas hard red winter wheat is unloaded from a combine into a grain truck at harvest. This wheat likely may end up in a Mexican flour mill. Mexico is the largest importer of U.S. hard red winter wheat grown in Kansas.
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Aug 31, 2021 to Sep 02, 2021
If the U.S. is the world’s grocery store, Mexico is certainly filling its cart with hard red winter wheat (HRW) grown in Kansas and other Plains states.
According to the USDA Foreign Agriculture Service’s March 2021 data, Mexico purchased nearly 6.39 million bushels, or about 174,000 metric tons, of U.S. HRW during the month, the most of any country. According to data reported by U.S. Wheat Associates, that March purchase brings Mexico’s total year-to-date purchases of all wheat classes for current marketing year delivery to about 3.4 million metric tons the most of any nation, but lagging its 2019-20 imports.
As the world’s economies begin picking up pace, the increasing demand for raw materials is pushing up ocean freight rates worldwide. A less volatile freight market is possible but there are factors that suggest rates…
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