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February 25, 2011

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 February 17, 2011 were 30.652 million metric tons (MMT), 57 percent greater than last year's year-to-date total of 19.472 MMT.

Net sales of 1,008,300 MT for the 2010/11 marketing year were up 68 percent from the previous week and 67 percent from the prior 4-week average, and exceeded trade estimates of 700,000 to 1,000,000 MT. Increases were reported for Egypt (118,341 HRW, 177,750 SRW, -898 white), Japan (35,543 HRW, 75,385 HRS, -11 white), Iraq (102,500 HRW), Turkey (102,500 HRW), South Korea (15,000 HRW, 33,100 HRS, 519 SRW, 31,100 white), and the Philippines (32,000 HRS, 24,700 white). Net sales of 105,000 MT for delivery in 2011/2012 were mainly for the Philippines (4,000 HRW, 54,100 HRS, 15,500 white) and Honduras (3,000 HRW, 11,900 HRS, 5,000 SRW).

USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 35.38 MMT. Commitments to date (of wheat and wheat products) are 87 percent of total projected exports, down from the five-year average of 92 percent of exports committed by this date.

(See attached file: CS 110225.pdf)(See attached file: CS 110225.xls)
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