UK Wheat Exports To Beat Target?

The UK exported 191,000 MT of wheat in February, bringing total wheat exports for the year to date to 1.4 MMT, according to the latest Defra figures.

With four months left to go in the current July/June marketing year, we need to average 200,000 MT per month to hit Defra's target of 2.2 MMT for the entire marketing year.

That looks easily achievable I'd say once we get the March and April figures in, which will include some sizable "one-off" shipments to the Philippines and other exotic destinations. There's even a consignment of around 45,000 MT loading in Tilbury this week destined for the US, I understand.

It looks likely therefore that we will probably surpass exports of 2.2 MMT during the current season.

To the end of February Spain still remains our number one buyer, taking more than half of all exports, with Portugal, the Netherlands and Ireland bringing up the next three slots.