International tenders for feed wheat into the Philippines and milling wheat into Iran were concluded last night. The Philippines were said to have picked up around 160kt of Aussie wheat. Iran were buyers of 500kt of milling wheat for Jan / Feb with 60kt shipments destined to various ports. It is believed that Russia and Germany were key suppliers to the Iranian tender.
Iran will import a total of about 8mt of wheat prior to their new crop due to the worst drought in 50 years reducing yields. To date Iran has picked up around 50% of their requirements, mainly from the Black Sea and Caspian Sea states, i.e. Russia.
Jordan picked up 60kt of milling wheat and French wheat exports to China continue.

Much of the speculative market was focused on the severe weather in the USA. There were reports of winter wheat literally being blown out of the ground across parts of northern Kansas and Nebraska as gusts of 100mph demolished farm infrastructure, plenty of pics on social media last night. Many locations saw pivots twisted up like spaghetti. With the current global supply issues, getting things fixed in time for the next crop in spring 2022 may be an issue. One pivot repair company in Nebraska saying parts are hard to get and they may not be able to get replacement units up and running before June 2022.
Chicago wheat futures found support from the wild weather and also from a marketing year weekly high in US export sales of 650kt. The fall in prices over the last week or two has seen a number of importers come to the plate for short to mid-term coverage.