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December 30, 2008

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 December 18, 2008, were 21.374 million metric tons (MMT), 27 percent lower than last year's year-to-date total of 29.151 MMT.

Sales for the period of December 12 to December 18, 2008 were 253,600 metric tons, down 3 percent from the previous week, and down 10 percent from the prior 4-week average. Increases reported for Mexico (56,045 HRW, 1,026 HRS, 1,494 SRW), Egypt (57,750 SRW), Taiwan (13,270 HRW, 35,890 HRS, 6,870 white), Japan (2,500 HRW, 17,872 HRS, 33,360 white), Guatemala (20,230 HRW, 10,670 HRS), Yemen (28,000 white) and South Korea (6,800 HRW, 6,209 HRS, 10,800 white) were partially offset by Unknown (-25,600 HRW, -12,200 HRS, -13,000 SRW) and Spain (-40,000 HRS).

USDA forecasts 2008/09 U.S. wheat exports (including donations) to reach 27.22 MMT. Commitments to date (of wheat and wheat products) are 79 percent of total projected exports, and on par with the 5-year average of 79 percent of exports committed by this date.

(See attached file: CS 081218.pdf) (See attached file: CS 081218.xlsx)
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