March 31, 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 March 24, 2011 were 33.383 million metric tons (MMT), 58 percent greater than last year's year-to-date total of 21.108 MMT.
Net sales of 271,500 MT for the 2010/11 marketing year were down 59 percent from the previous week and 56 percent from the prior 4-week average, and below trade estimates of 500,000 to 700,000 MT. Increases were reported for Nigeria (164,320 HRW, 12,000 HRS, 10,000 white), Japan (66,565 HRS), Turkey (57,065 HRW, 8,298 HRS), Peru (27,396 HRW, 11,000 SRW), Thailand (297 HRW, 3,298 HRS, 22,000 white), and Italy (17,998 durum). Net sales of 138,000 MT for delivery in 2011/2012 were mainly for Thailand (17,000 HRW, 31,500 HRS, 21,500 white), Algeria (25,000 durum), and the Philippines (24,000 HRS).
USDA forecasts 2010/11 U.S. wheat exports (including donations) to reach 34.70 MMT. Commitments to date (of wheat and wheat products) are 96 percent of total projected exports, down from the five-year average of 99 percent of exports committed by this date.
(See attached file: CS 110331.pdf)(See attached file: CS 110331.xls)