China to receive more wheat from U.S. with fifth straight week of exports
In the week ended December 17, China moved more wheat from US ports, recording a fifth straight week of US wheat shipments, as the country looks to fulfill its trade obligations and replenish its reserves.
The US shipped 63,000 mt of wheat to China during the week ending Dec. 17, data from the US Department of Agriculture showed on December 23.
China has been shipping in more than 60,000 mt of wheat every week since November 19, data shows, following a trade pause seen in the months of September and November as buyers awaited US presidential election results.
This brings US wheat exports to China to cross 1.6 million mt in the 2020-21 marketing season, which began on June 1.
Overall, China remains the third largest purchaser of US wheat in 2020-21, with total commitments, according to USDA data, reaching a seven-year high of 2.2 million mt. Outstanding sales and cumulative exports include total commitments.
In recent years, Mexico, the Philippines, and Japan have historically been big buyers of US wheat, but China's demand for grain has been holding the markets busy for months.
Overall, China remains the third largest purchaser of US wheat in 2020-21, with total commitments, according to USDA data, reaching a seven-year high of 2.2 million mt. Outstanding sales and cumulative exports include total commitments.
In recent years, Mexico, the Philippines, and Japan have historically been big buyers of US wheat, but China's demand for grain has been holding the markets busy for months.
Mexico was the top purchaser of US wheat in 2019-20, but according to the results, the Philippines dominated most of the current season, with US wheat commitments exceeding 2.5 million mt in the week ended Dec. 17.
Total US wheat sales dropped 27.1 percent week on week to 393,686 mt in the week ended Dec. 17, continuing the dipping trend seen last year at the same time.
Maritime Business World
YORUM KAT