October 28, 2010
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 October 21, 2010 were 19.452 million metric tons (MMT), 50 percent greater than last year's year-to-date total of 12.976 MMT.
Net sales 604,400 MT for the 2010/11 marketing year were up 5 percent from the previous week and 1 percent from the prior 4-week average, and within trade estimates of 450,000 to 650,000 MT. Increases were reported for Egypt (123,730 HRW, 116,500 SRW), South Korea (20,900 HRW, 29,340 HRS, 27,540 white), Japan (93 HRW, 75,815 HRS, 151 white), the Philippines (27,000 HRS, 40,500 white), Mexico (1,294 HRW, 32,192 HRS, -696 SRW, 7,348 white), and Canada (26,095 HRS, 2,370 durum).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 34.02 MMT. Commitments to date (of wheat and wheat products) are 57 percent of total projected exports, down from the five-year average of 66 percent of exports committed by this date.
(See attached file: CS 101028.pdf)(See attached file: CS 101028.xls)