US wheat exports to hit 51-year low due to high prices, low supply

US — The United States may record its lowest wheat grain export in 51 years this season due to a number of factors chief among them being a low supply of the commodity and uncompetitive US export prices.

According to World Agricultural Supply Demand and Estimates (WASDE) projections, Wheat exports from the United States could fall to 775 million bushels in 2022-23.

If realized, this would be the lowest US wheat export level since 1971-72, according to the WASDE, which cited reduced supplies, slow pace of export sales and continued uncompetitive US export prices for the decline.

US supplies were reduced on lower 2022-23 production based on the USDA’s National Agricultural Statistics Service (NASS) Small Grains Summary Sept. 30 report that indicated reductions in both harvested area and yield.

This lowered production by 133 million bushels to 1.65 billion, leaving production only minimally higher than last year.

“Partially offsetting the production decline are higher projected imports, raised 10 million bushels to 120 million, all for hard red spring,” the USDA said.

Projected ending US stocks in 2022-23 were cut 34 million bushels to 576 million, which would be the lowest since 2007-08, according to the WASDE.

Fire damages Port of Vancouver USA grain elevator

Meanwhile, United Grain Corp is counting its losses following damages caused by a conveyor fire at a Port of Vancouver USA grain elevator operated by the company.

The barge was carrying 100,000 bushels of soft white wheat from United Grain’s McNary facility at the Port of Umatilla.

It was 99% unloaded at the time of the fire which lasted more than 90 minutes and took the fire brigade more than 6 ½ hours to extinguish, according to the company.

The United Grain Corp. facility at Port of Vancouver USA on the Columbia River consists of a 715-foot dock and a barge dock that allows simultaneous barge off-loading at a rate of 2,000 tonnes per hour.

Originally built in 1934 and continually expanded, the elevator has the largest storage capacity on the US West Coast at 220,000 tonnes (8.3 million bushels) with an annual handling capacity of 5 million tonnes and more than 290 silos for segregating wheat, soybeans and corn.

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