U.S. Census data, now available through January 2017, indicates a slow pace of shipments from Canada-in part due to low quality-results in cuts to U.S. imports for most classes of wheat including Hard Red Winter, Hard Red Spring, Durum, and White Wheat. After an aggregate 10-million-bushel (bu) reduction, U.S. all wheat imports for 2016/17 are projected at 115 million bu. The still-strong U.S. dollar and ample wheat supplies in almost all major wheat-exporting countries anchor U.S. exports at the current projection, unchanged from last month. Higher projected 2016/17 wheat production for Australia and Argentina, two major U.S. trade competitors, further expands the record-high world wheat supplies.
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