September 23, 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 September 16, 2010 were 16.472 million metric tons (MMT), 61 percent greater than last year's year-to-date total of 10.231 MMT.
Net sales 950,300 MT for the 2010/11 marketing year were up 96 percent from the previous week and 7 percent from the prior 4-week average, well above trade estimates of 450,000 to 650,000 MT. Increases were reported for Egypt (233,494 HRW and 55,000 white), Unknown (197,500 HRW, 23,478 white, and -16,700 durum), Nigeria (82,161 HRW, 77 HRS, -123 white, and 4,952 durum), Dominican Republic (37,014 HRW, 18,180 HRS, and 15,685 SRW), Japan (2,100 HRW and 66,551 HRS), South Korea (15,392 HRW, 19,860 HRS, and 29,028 white), and Saudi Arabia (52,342 HRW).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 34.02 MMT. Commitments to date (of wheat and wheat products) are 48 percent of total projected exports, down from the five-year average of 54 percent of exports committed by this date.
(See attached file: CS 100923.xls)(See attached file: CS 100923.pdf)