NEWS for North Dakotans
Agriculture Communication, North Dakota State University
7 Morrill Hall, Fargo, ND 58105-5665
July 1, 1999
The Market Advisor: Spring Wheat Exports Sluggish
George Flaskerud, Extension Crops Economist
NDSU Extension Service
As of mid-June hard red spring wheat, hard red winter wheat and white wheat export commitmentsactual exports plus unshipped saleswere down from a year ago but up for soft red winter wheat and durum wheat, according to USDA's Foreign Ag Service. For all wheat, export commitments were down 11 percent. Actual exports and unshipped sales varied considerably by class and for all wheat.
Actual exports of all wheat were up 20 percent from a year ago. Hard red winter, soft red winter and durum were the leaders in this category, up 37 percent for hard red winter and up 68 percent for soft red winter. Durum did not have any actual exports to date last year but as of mid-June did have 1.2 million bushels so far this year. Hard red spring was down 20 percent and white wheat was down 5 percent.
Sales were lagging for most classes and for all wheat. Unshipped sales were up 6 percent for soft red winter but down 21 percent for hard red winter, 17 percent for hard red spring, 31 percent for white, 7 percent for durum and 19 percent for all wheat.
Corn is the commodity that appears to be shining. Commitments were up 33 percent by mid-June; unshipped sales were up 46 percent and actual exports were up 31 percent.
Actual soybean exports were in the worst situation in mid-June, being down 14 percent. Even though unshipped sales were up 38 percent, commitments were down 11 percent.
Actual exports of barley were substantial for the week ending June 24, according to USDA Ag Market News; they were up by about 1.42 million bushels. Only 63 million had been exported prior to that during the current marketing year.
Ag Market News also reported that actual sunflower exports, to date, were down sharply from a year agodown 43 percent.
Domestically, the greatest uncertainty on the demand side may be the quality of the winter wheat crop harvested and hence, how much will be fed. The USDA Crop Progress Report indicated that 24 percent of the winter wheat had been harvested as of June 27, versus the five-year average of 36 percent and 49 percent last year. The condition of the winter wheat crop was rated 66 percent, down from 69 percent a week ago. The ratings for spring wheat, corn, soybeans and barley remained relatively high.
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Source: George Flaskerud (701) 231-7377
Editor: Dean Hulse (701) 231-6136