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December 31, 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 24, 2009, were 15.959 million metric tons (MMT), 27 percent lower than last year's year-to-date total of 21.792 MMT.

Net sales of 370,300 metric tons were up 67 percent from the previous week and 23 percent from prior 4-week average, and within trade estimates of 300,000 to 500,000 MT. Increases were reported for unknown destinations (28,200 HRW, 316 HRS, 50,000 white), the Philippines (38,000 HRS, 14,600 white), South Korea (11,350 HRW, 12,578 HRS, 357 SRW, 26,871 white), Cuba (49,500 HRW), and Mexico (28,572 HRW, 505 HRS, 20,241 SRW).

USDA forecasts 2009/10 U.S. wheat exports (including donations) to reach 23.81 MMT. Commitments to date (of wheat and wheat products) are 69 percent below total projected exports, down from the 5-year average of 81 percent of exports committed by this date.

(See attached file: CS 091224.pdf)(See attached file: CS 091224.xls)
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