October 29, 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 2009/10 marketing year, through October 22, 2009, were 12.976 million metric tons (MMT), 31 percent lower than last year's year-to-date total of 18.847 MMT.
Net sales of 347,700 metric tons were down 45 percent from the previous week and 42 percent from the prior 4-week average, and below trade estimates of 400,000 to 600,000 MT. Increases were reported for Taiwan (25,850 HRW, 38,490 HRS, 9,536 white), Japan (8,360 HRW, 40,480 HRS, 23,920 white), Thailand (13,000 HRW, 18,000 HRS, 14,000 white), Nigeria (34,025 HRW, 5,000 SRW, 4,831 durum), South Africa (33,000 HRS), the Philippines (3,700 HRW, 20,425 white), Venezuela (5,550 HRW, 16,200 HRS), Mexico (9,131 HRW, 1,000 HRS, 2,619 SRW), and Spain (12,260 HRS).
USDA forecasts 2009/10 U.S. wheat exports (including donations) to reach 24.49 MMT. Commitments to date (of wheat and wheat products) are 54 percent below total projected exports, down from the 5-year average of 66 percent of exports committed by this date.
(See attached file: CS 091022.pdf)(See attached file: CS 091022.xls)