October 21, 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 October 14, 2010 were 18.857 million metric tons (MMT), 49 percent greater than last year's year-to-date total of 12.634 MMT.
Net sales 574,000 MT for the 2010/11 marketing year were up 52 percent from the previous week, but down 17 percent from the prior 4-week average. Net sales exceeded trade estimates of 450,000 to 550,000 MT. Increases were reported for Nigeria (45,000 HRW, 32,000 HRS, 60,289 SRW), Iraq (100,000 HRW), Egypt (74,003 HRW), unknown destinations (32,250 HRW, 7,250 HRS, 8,000 white), Mexico (25,904 HRW, 15,000 SRW), and Canada (-2 HRW, 25,677 HRS, 153 SRW).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 34.02 MMT. Commitments to date (of wheat and wheat products) are 56 percent of total projected exports, down from the five-year average of 65 percent of exports committed by this date.
(See attached file: CS 101021.pdf)(See attached file: CS 101021.xls)