According to the U.S. Department of Agriculture (USDA) total outstanding sales and accumulated exports of all U.S. wheat classes through September 19th were 17.7 million metric tons – up 38% from a year before and 25% higher than the five year average. Brazil and China, both traditionally low volume buyers of U.S. wheat have been taking large shipments. In the last five years, combined shipments to both countries have not exceeded 4% of total sales however in 2013 sales to the two countries have accounted for 36% of total sales to date. In April Brazil temporarily eliminated a10% import duty on wheat imported from outside the Mercosur trading body, driven by supply shortages and trade barriers from Argentina. Although China is largely self-sufficient in wheat, poor weather caused a short harvest forcing the country to import supplies. The USDA currently estimates that China will import 9.5 million metric tons of U.S. wheat which would be the most since 1995-1996. Additionally the discovery of GM wheat in an Oregon field which analysts feared would cause significant global market reaction, has proven to have limited impact.
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