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March 26, 2009

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 2008/09 marketing year, through March 19, 2009, were 25.119 million metric tons (MMT), 23 percent lower than last year's year-to-date total of 32.642 MMT.

Sales for the period of March 12 to March 19, 2009 were 264,200 metric tons, up 24 percent from the previous week, but down 20 percent from the prior 4-week average. Increases reported for Japan (45,990 HRW, 10,300 HRS, 39,690 white), Egypt (-2 HRS, 69,601 SRW), Indonesia (3,500 HRW, 8,786 HRS, 51,463 white), Nigeria (35,680 HRW), Venezuela (20,500 HRW, 5,000 HRS, 5,000 SRW), South Korea (4,173 HRW, 8,899 HRS, 9,900 white) and Haiti (18,300 HRW) were partially offset by decreases for Unknown (-29,000 HRW, 1,500 HRS, -72,000 SRW, -53,000 white), Guatemala (-4,500 HRW, -4,000 HRS, -1,796 SRW) and Nicaragua (-3,000 HRS). Net sales of 124,000 MT for delivery in 2009/10 were reported for the Philippines (59,500 MT), unknown destinations (58,000 MT), and Nicaragua (6,500 MT).

USDA forecasts 2008/09 U.S. wheat exports (including donations) to reach 26.670 MMT. Commitments to date (of wheat and wheat products) are 95 percent of total projected exports, down from the 5-year average of 98 percent of exports committed by this date.

(See attached file: CS 090319.pdf) (See attached file: CS 090319.xlsx)
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