January 15, 2009
According to the U.S. Department of Agriculture's weekly Export Sales Report, total known outstanding sales and accumulated exports of all classes of wheat for the 2008/09 marketing year, through January 8, 2009, were 21.921 million metric tons (MMT), 27 percent lower than last year's year-to-date total of 29.865 MMT.
Sales for the period of January 2 to January 8, 2009 were 87,900 metric tons, up two and one-tenth times from the previous week, but down 64 percent from the prior 4-week average and well below trade estimates of 300,000 to 400,000 metric tons. Increases reported for Japan (26,780 HRW, 12,360 HRS, 22,660 white), Honduras (8,000 HRW, 6,433 HRS, 6,300 SRW), Jamaica (4,000 HRW, 15,500 HRS), Haiti (15,000 HRW), Singapore (8,000 HRS, 7,000 white), Brazil (15,000 HRW), Venezuela (3,000 HRW, 6,000 HRS, 6,000 SRW) were offset by reductions to Egypt (-60,000 SRW), Unknown (-68 HRW, -47,800 SRW), South Korea (-3,433 HRW, -4,014 HRS, -12,467 white), Ecuador (-10,000 SRW).
USDA forecasts 2008/09 U.S. wheat exports (including donations) to reach 27.22 MMT. Commitments to date (of wheat and wheat products) are 81 percent of total projected exports, down from the 5-year average of 82 percent of exports committed by this date.
(See attached file: CS 090108.pdf) (See attached file: CS 090108.xlsx)