Wheat Morning Audio Recap

<div><audio controls><source src="https://stream.futuresline.com/audioarchive/1744805121726-40113.mp3" type="audio/mp3"></audio></div><br /><h3 style="font-family: Verdana, Geneva, sans-serif;">Transcript</h3><div style="font-size: 12pt; font-family: Verdana, Geneva, sans-serif;">Here's the latest on the Wheat Market from QT NEWS.<br /><br />In today's wheat market update, several key developments have emerged that shape the current landscape. Trade sources indicate that Jordan has four companies participating in today's tender for 120,000 metric tons of barley, though no purchases have been finalized yet. Meanwhile, Tunisia has expressed interest in procuring 75,000 metric tons of soft mill wheat, with the tender closing tomorrow, April 17th, and expected shipment dates ranging from May 20 to June 30.<br /><br />Jordan?s state grain buyer has set a deadline of April 22nd for offers in their tender seeking up to 120,000 metric tons of mill-grade wheat for shipment between July 1 and September 30. In another development, Iran is seeking 120,000 metric tons of feed barley in a tender that closes on April 21.<br /><br />Recent government data from India reveals that as of April 1, the country?s wheat reserves stood at 11.8 million metric tons, significantly exceeding the government?s target of 7.46 million metric tons and representing a three-year high.<br /><br />Additionally, the French Ministry of Agriculture has forecasted soft wheat exports outside the EU for the 2024/25 marketing year at 3.1 million metric tons, slightly down from the previous month?s estimate of 3.2 million metric tons. Exports within the EU are projected to be 6.42 million metric tons, up from last month?s 6.28 million metric tons. Soft wheat ending stocks for the same marketing year are expected to reach 2.81 million metric tons, down from 2.91 million metric tons previously estimated.<br /><br />As of April 13, the accumulated EU soft wheat exports for the 2024/25 marketing year totaled 16.7 million metric tons, compared to 25.7 million metric tons during the same week last year. Conversely, barley exports accumulated to 4.1 million metric tons, a decrease from the prior year?s figure of 5 million metric tons.<br /><br />In South America, the Buenos Aires Grain Exchange is projecting Argentina?s wheat production for the 2025/26 season at 20.5 million metric tons, with a planted area of 6.7 million hectares. This figure may increase if the government decides to extend temporary tax cuts beyond June.<br /><br />As markets respond to these developments, Euronext Paris May mill wheat futures are trading lower, currently at 210.00 euros per metric ton, signaling a cautious sentiment among traders as they continue to monitor demand and supply dynamics in the wheat market. <br /><br />Overall, the wheat market remains active with several ongoing tenders and varying production forecasts, making it essential for stakeholders to stay informed about these developments.</div>