November 18, 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 November 11, 2010 were 21.793 million metric tons (MMT), 55 percent greater than last year's year-to-date total of 14.035 MMT.
Net sales of 943,400 MT for the 2010/11 marketing year were up 13 percent from the previous week and 47 percent from the prior 4-week average, and exceeded trade estimates of 400,000 to 600,000 MT. Increases were reported for unknown destinations (150,000 HRW, 52,500 HRS, -11,614 SRW), Mexico (76,587 HRW, 61,000 HRS, 10,001 SRW, 2,452 white), Egypt (55,000 SRW, 60,000 white), Iraq (100,000 HRW), Nigeria (39,047 HRW, 15,000 HRS, 21,804 SRW, 10,000 white), and Japan (41,012 HRW, -472 HRS, 27,872 white). Net sales of 43,500 MT for delivery in 2011/12 were for the Philippines (43,500 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 64 percent of total projected exports, down from the five-year average of 72 percent of exports committed by this date.
(See attached file: CS 101118.pdf)(See attached file: CS 101118.xls)