January 22, 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 2009/10 marketing year, through January 14, 2010 were 17.060 million metric tons (MMT), 24 percent lower than last year's year-to-date total of 22.332 MMT.
Net sales of 825,800 metric tons for delivery in 2009/10--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average, and exceeded trade estimates of 250,000 to 350,000 MT. Increases were reported for the Philippines (90,000 HRS, 97,600 white), unknown destinations (58,950 HRW, 51,140 HRS, 16,750 white, -13,500 durum), Nigeria (100,000 HRW, 7,072 SRW), Japan (23,183 HRW, 42,025 HRS, 12,140 white), Morocco (75,000 HRW), Thailand (8,000 HRW, 14,000 HRS, 25,100 white), and Venezuela (10,500 HRW, 18,500 HRS, 8,000 SRW, 10,000 durum).
USDA forecasts 2009/10 U.S. wheat exports (including donations) to reach 22.45 MMT. Commitments to date (of wheat and wheat products) are 78 percent below total projected exports, down from the 5-year average of 84 percent of exports committed by this date.
(See attached file: CS 100114.pdf)(See attached file: CS 100114.xls)