The pace of wheat exports from the United States in early November is at its lowest levels in half a century.

According to preliminary estimates by market operators, the volume of wheat exports from the United States in the first week of November amounted to 72 thousand tons, which was lower than the results of the previous week (134.3 thousand tons) and became the lowest weekly sales volume since December 2022 (86 thousand tons).

It is noted in more detail that, despite the fact that US wheat exports usually decline in the fall due to exporters' preference for soybeans, this reduction was the largest in the last 52 years (since 1983).

It can be assumed that the main reason for the significant decrease in shipments of American wheat was logistical problems caused by low water levels in the Mississippi River. It is important to note that U.S. Farm and Market Administration (USDA) analysts forecast wheat exports at 19.05 million tons in the 2023/24 season, but as of October 26, export sales were 11.4 million tons, about 60% of the annual plan, compared to 72% at the corresponding date of the previous year.