June 24, 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 June 17, 2010 were 5.853 million metric tons (MMT), 42 percent greater than last year's year-to-date total of 4.123 MMT.
Net sales of 720,600 MT for the 2010/11 marketing year were down 25 percent from the previous week, but exceeded trade estimates of 250,000 to 450,000 MT. Increases were reported for unknown destinations (150,660 HRW, 39,750 HRS, -1,000 SRW, 52,570 white, 2,500 durum), Brazil (50,000 HRW, 30,000 SRW), Japan (23,547 HRW, 39,830 HRS), Thailand (7,500 HRW, 21,000 HRS, 22,500 white), Nigeria (47,500 HRW), Dominican Republic (20,500 HRW, 4,858 HRS, 14,500 SRW), and Chile (21,000 HRW, 17,438 white).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 24.49 MMT. Commitments to date (of wheat and wheat products) are 24 percent of total projected exports, up from the 5-year average of 21 percent of exports committed by this date.
(See attached file: CS 100624.pdf)(See attached file: CS 100624.xls)