February 10, 2011
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 2010/11 marketing year, through February 3, 2011 were 29.044 million metric tons (MMT), 55 percent greater than last year's year-to-date total of 18.687 MMT.
Net sales of 391,300 MT for the 2010/11 marketing year were down 27 percent from the previous week and 40 percent from the prior 4-week average, and below trade estimates of 500,000 to 700,000 MT. Increases were reported for Iraq (105,999 HRW, 6,016 HRS), Mexico (57,608 HRW, 13,887 HRS, 35,008 SRW), Nigeria (90,327 HRW), Chile (49,700 HRW), and Guatemala (17,300 HRW, 8,300 HRS, 6,300 white). Net sales of 116,000 MT for delivery in 2011/2012 were mainly for Mexico (40,250 HRW, 22,500 HRS, 18,000 SRW), unknown destinations (9,250 HRW, 6,300 HRS, 4,250 SRW), and Indonesia (10,000 HRS).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 35.38 MMT. Commitments to date (of wheat and wheat products) are 82 percent of total projected exports, down from the five-year average of 89 percent of exports committed by this date.
(See attached file: CS 110210.pdf)(See attached file: CS 110210.xls)