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August 26, 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 August 19, 2010 were 13.060 million metric tons (MMT), 57 percent greater than last year's year-to-date total of 8.332 MMT.

Net sales 1,077,600 MT for the 2010/11 marketing year were down 24 percent from the previous week and 4 percent from the prior 4-week average, but exceeded trade estimates of 750,000 to 900,000 MT. Increases were reported for unknown destinations (290,000 HRW, 4,750 HRS, 24,500 SRW, -45,750 white, -27,500 durum), Egypt (117,918 HRW, 18,000 HRS), South Korea (19,829 HRW, 18,644 HRS, 519 SRW, 42,318 white), Chile (38,500 HRW, 13,150 HRS, 18,700 white), Indonesia (20,000 HRW, 5,000 HRS, 39,550 white), Taiwan (39,697 HRS, 13,450 white), and Thailand (14,950 HRW, 25,000 HRS, 10,000 white).

USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 32.66 MMT. Commitments to date (of wheat and wheat products) are 40 percent of total projected exports, down from the five-year average of 44 percent of exports committed by this date.

(See attached file: CS 100826.pdf)(See attached file: CS 100826.xls)
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