Commercial Sales - October 19, 2017
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 2017/18 marketing year, through October 12, 2017 were 14.8 million metric tons (MMT), 4 percent behind last year's year-to-date total and 2 percent behind the 5-year average pace.
Net sales of 615,400 metric tons (MT) were reported for delivery in marketing year 2017/18, up noticeably from the previous week and 75 percent above the prior 4-week average. Sales were below trade expectations of 300,000 to 500,000 MT. Increases were primarily for Mexico (140,203 HRW, 9,848 HRS, 25,097 SRW, 4,855 white), China (120,000 HRS), Unknown Destinations (43,000 HRW, 60,000 HRS, 16,000 SRW, -25,000 durum), Japan (42,940 HRS, 22,200 white), and Iraq (50,000 HRW).
USDA forecasts 2017/18 U.S. wheat exports (including donations) to reach 26.5 MMT.