U.S. Wheat official talks soft white wheat exports
Farm and Ranch November 30, 2010 U.S. Wheat Associates thinks soft white wheat exports are doing well this marketing year. Vince Peterson, U.S. Wheat Associates Vice President of Overseas Operations discussed exports during a northwest visit last week. Peterson: “Soft white is well ahead of last year. We were on a target already to do about 20% more than last year. We may exceed that. Soft white sales are already about oh seven or 800-thousand metric tons, that is 25 million bushels ahead of the same time last year. So we are doing pretty well.” Peterson also believes the majority of soft white wheat buyers have made adjustments for the upcoming several month closure of the Columbia-Snake River navigation system, which will halt barging of wheat downriver. Peterson: “If you look at the major buyers, the core customers of soft white wheat, they are well ahead in their purchases and they have accommodated that period with little disruption. The unfortunate part of it is that it comes in a year when there is some more potential business to be had out there. Egypt, Yemen, some of those could come in the winter months and that falls unfortunately right on top of this closure period. We‘ll have to see how we deal with that but that could affect some of that business.” Lack of Russian wheat exports this year is what is creating the opportunity for increased sales of Pacific Northwest soft white wheat to Egypt and to Yemen. Last week the USDA announced Egypt had purchased 120-thousand metric tons of soft white wheat. I’m Bob Hoff and that’s the Northwest Farm and Ranch Report on Northwest Aginfo Net. ?
