We’ve seen a few very good weeks but a number of very poor weeks of US export sales for wheat. At this point we are likely tracking very close to USDA’s target which needs 312 thousand tons per week.

But with Russia and Ukraine not available to ship at this time, US exports could see an increase in the weeks to come.

South America is not a major player when it comes to wheat exports and therefore, we have not seen any major increases in our export sales due to the South American drought.

The Russian Ukraine war could add additional sells to the US.

One example is Egypt, Egypt is the largest buyer of wheat, over the last few days Egypt has been tendering or looking for wheat with no Black Sea offers.

This is going to be consistent for Egypt, but also other countries are going to have to look elsewhere. Therefore, US wheat exports could benefit over the next 60-90 days and US wheat exports could end up being above USDA’s estimate as well.