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March 25, 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 2009/10 marketing year, through March 18, 2010 were 20.678 million metric tons (MMT), 18 percent lower than last year's year-to-date total of 25.119 MMT.

Net sales of 371,200 metric tons for delivery in 2009/10 were up 14 percent from the previous week and 23 percent from the prior 4-week average, and within trade estimates of 250,000 to 450,000 MT. Increases were reported for Nigeria (89,500 HRW, 6,150 HRS), Indonesia (25,000 HRW, 5,000 HRS, 31,000 white), Japan (14,000 HRW, 28,360 HRS, 8,240 white), South Korea (8,300 HRW, 19,100 HRS, 330 SRW, 21,620 white), and Malaysia (25,000 HRW, 10,000 HRS, 10,000 white). Net sales of 148,000 MT for delivery in 2010/11 were for unknown destinations (70,000 HRW), Singapore (54,997 white), and South Korea (3,700 HRW, 11,300 HRS, 8,000 white).

USDA forecasts 2009/10 U.S. wheat exports (including donations) to reach 22.45 MMT. Commitments to date (of wheat and wheat products) are 95 percent of total projected exports, down from the 5-year average of 97 percent of exports committed by this date.

(See attached file: CS 100318.pdf)(See attached file: CS 100318.xls)
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