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March 9, 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 2008/09 marketing year, through February 26, 2009, were 24.278 million metric tons (MMT), 24 percent lower than last year's year-to-date total of 32.034 MMT.

Sales for the period of February 20 to February 26, 2009 were 285,200 metric tons, down 39 percent from the previous week and 30 percent from the prior 4-week average. Increases were reported for South Korea (-381 HRW, -870 HRS, -7 SRW, 178 white), Mexico (23,734 HRW, 4,361 HRS, -10 SRW), unknown (36,497 HRW, 2,031 SRW, 23,000 white), Guatemala (4,500 HRW, 2,500 HRS, -600 SRW), Japan (3,774 HRW, 12,777 HRS, 8,670 white), Venezuela (1,325 HRW, 44 HRS) and China (50,000 SRW). Net sales of 25,000MT were reported for delivery in 2009/10, all for Mexico (25,000 HRW).

USDA forecasts 2008/09 U.S. wheat exports (including donations) to reach 27.22 MMT. Commitments to date (of wheat and wheat products) are 90 percent of total projected exports, down from the 5-year average of 93 percent of exports committed by this date.

(See attached file: CS 090226.pdf) (See attached file: CS 090226.xlsx)
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