September 16, 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 September 9, 2010 were 15.522 million metric tons (MMT), 59 percent greater than last year's year-to-date total of 9.739 MMT.
Net sales 484,600 MT for the 2010/11 marketing year were down 49 percent from the previous week and 57 percent from the prior 4-week average, well below trade estimates of 850,000 to 1,250,000 MT. Increases were reported for Unknown (220,001 HRW, 21,000 HRS, and -18,060 white), Peru (70,600 HRW and 15,000 SRW), Japan (33,763 HRW, 573 HRS, and 33,735 white), South Korea (11,100 HRW, 17,900 HRS, and 28,400 white), Libya (51,429 HRW), Indonesia (1,000 HRW, 10,250 HRS, and 40,000 white), and Italy (28,901 HRS and 20,473 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 46 percent of total projected exports, down from the five-year average of 52 percent of exports committed by this date.
(See attached file: CS 100916.pdf)(See attached file: CS 100916.xls)