March 10, 2011
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 March 3, 2011 were 31.788 million metric tons (MMT), 59 percent greater than last year's year-to-date total of 19.981 MMT.
Net sales of 575,700 MT for the 2010/11 marketing year were up 3 percent from the previous week, but down 10 percent from the prior 4-week average, and below trade estimates of 750,000 to 1,100,000 MT. Increases were reported for Japan (20,623 HRW, 73,474 HRS, 57,725 white, 630 durum), unknown destinations (125,800 HRW, -2,500 HRS, 39,000 SRW, -12,500 white), Egypt (117,272 HRW), Yemen (55,000 white), Guatemala (18,900 HRW, 10,050 HRS, 8,850 white), and Turkey (20,000 HRW). Net sales of 81,500 MT for delivery in 2011/2012 were mainly for Nigeria (48,000 SRW), Japan (20,000 white), and Jamaica (9,000 SRW).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 34.70 MMT. Commitments to date (of wheat and wheat products) are 90 percent of total projected exports, down from the five-year average of 94 percent of exports committed by this date.
(See attached file: CS 110310.pdf)(See attached file: CS 110310.xls)