December 24, 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 December 17, 2009, were 15.589 million metric tons (MMT), 27 percent lower than last year's year-to-date total of 21.374 MMT.
Net sales of 221,300 metric tons--a marketing-year low--were down 36 percent from the previous week and 34 percent from the prior 4-week average, and below trade estimates of 350,000 to 550,000 MT. Increases were reported for Japan (13,020 HRW, 27,360 HRS, 25,616 white), Mexico (9,000 HRW, 8,287 HRS, 19,500 SRW), Nigeria (27,939 HRW), South Korea (5,341 HRW, 5,415 HRS, 176 SRW, 11,215 white), Colombia (18,565 HRW, -193 HRS, 349 SRW), and the Philippines (4,000 HRS, 13,921 white).
USDA forecasts 2009/10 U.S. wheat exports (including donations) to reach 23.81 MMT. Commitments to date (of wheat and wheat products) are 67 percent below total projected exports, down from the 5-year average of 80 percent of exports committed by this date.
(See attached file: CS 091217.pdf)(See attached file: CS 091217.xls)