November 12, 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 November 4, 2010 were 20.850 million metric tons (MMT), 52 percent greater than last year's year-to-date total of 13.673 MMT.
Net sales of 832,000 MT for the 2010/11 marketing year were up 47 percent from the previous week and 57 percent from the prior 4-week average, and exceeded trade estimates of 350,000 to 500,000 MT. Increases were reported for Japan (754 HRW, 118,765 HRS, 43,657 white), Mexico (105,722 HRW, 7,590 HRS), unknown destinations (110,000 HRW, 32,000 HRS, -32,000 white), the Philippines (69,000 HRS, 33,000 white), Peru (70,000 HRW), and Sri Lanka (55,000 white).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 34.02 MMT. Commitments to date (of wheat and wheat products) are 61 percent of total projected exports, down from the five-year average of 70 percent of exports committed by this date.
(See attached file: CS 101112.pdf)(See attached file: CS 101112.xls)