December 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 December 9, 2010, were 24.631 million metric tons (MMT), 60 percent greater than last year's year-to-date total of 15.367 MMT.
Net sales of 899,300 MT for the 2010/11 marketing year up 70 percent from the previous week and 25 percent from the prior 4-week average, and exceeded trade estimates of 450,000 to 650,000 MT. Increases were reported for unknown destinations (217,000 HRW), Japan (51,923 HRW, 89,374 HRS, -10 white), Yemen (115,000 white), Mexico (88,442 HRW, 19,750 HRS, -1 SRW, 1,229 white), and Egypt (60,099 HRW, 1,397 white). Net sales of 74,000 MT for delivery in 2011/12 were mainly for Mexico (45,000 SRW) and unknown destinations (28,500 HRW).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 34.02 MMT. Commitments to date (of wheat and wheat products) are 73 percent of total projected exports, down from the five-year average of 78 percent of exports committed by this date.
(See attached file: CS 101216.pdf)(See attached file: CS 101216.xls)