December 30, 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 23, 2010, were 25.653 million metric tons (MMT), 61 percent greater than last year's year-to-date total of 15.959 MMT.
Net sales of 431,400 MT for the 2010/11 marketing year were down 27 percent from the previous week and 36 percent from the prior 4-week average, and below trade estimates of 450,000 to 650,000 MT. Increases were reported for Iraq (100,000 HRW), Nigeria (67,070 HRW, 20,000 SRW, 10,000 white), Italy (8,000 HRW, 8,000 SRW, 51,250 durum), Yemen (-200 HRW, 49,632 white), and Malaysia (32,000 HRS, 16,000 white). Net sales of 7,100 MT for delivery in 2011/12 were for Mexico (7,050 white).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 34.02 MMT. Commitments to date (of wheat and wheat products) are 76 percent of total projected exports, down from the five-year average of 81 percent of exports committed by this date.
(See attached file: CS 101230.pdf)(See attached file: CS 101230.xls)