March 3, 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 24, 2011 were 31.213 million metric tons (MMT), 59 percent greater than last year's year-to-date total of 19.573 MMT.
Net sales of 560,600 MT for the 2010/11 marketing year were down 44 percent from the previous week and 12 percent from the prior 4-week average, and below trade estimates of 900,000 to 1,200,000 MT. Increases were reported for Egypt (55,396 HRW, 120,550 SRW), Nigeria (121,900 HRW, 12,000 HRS), Malaysia (18,000 HRW, 20,000 HRS, 7,000 white), Colombia (32,722 HRW, 3,538 SRW), Turkey (-15,000 HRW, 50,000 HRS), and the Philippines (600 HRW, 8,450 HRS, 24,095 white). Net sales of 90,300 MT for delivery in 2011/2012 were mainly for Malaysia (32,000 HRS, 10,000 white), unknown destinations (24,999 HRW), and Nigeria (12,000 HRS).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 35.38 MMT. Commitments to date (of wheat and wheat products) are 88 percent of total projected exports, down from the five-year average of 93 percent of exports committed by this date.
(See attached file: CS 110303.pdf)(See attached file: CS 110303.xls)