January 21, 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 January 13, 2011 were 27.253 million metric tons (MMT), 60 percent greater than last year's year-to-date total of 17.060 MMT.
Net sales of 1,054,300 MT for the 2010/11 marketing year were up noticeably from the previous week and from the prior 4-week average, and exceeded trade estimates of 300,000 to 700,000 MT. Increases were reported for unknown destinations (25,150 HRW, 117,950 HRS, 10,000 SRW, 27,200 white, -2,500 durum), Turkey (172,849 HRW), Japan (35,945 HRW, 66,372 HRS, 38,472 white, 270 durum), Nigeria (104,750 HRW, 5 HRS, 3,960 SRW), Vietnam (1,007 HRW, 47,172 HRS, 10,817 white), and Saudi Arabia (52,250 HRW). Net sales of 93,500 MT for delivery in 2011/2012 were for the Philippines (34,000 HRS, 55,000 white) and Nicaragua (4,500 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 77 percent of total projected exports, down from the five-year average of 84 percent of exports committed by this date.
(See attached file: CS 110121.pdf)(See attached file: CS 110121.xls)