Commercial Sales - February 16, 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 2016/17 marketing year, through February 9, 2017 were 24.0 million metric tons (MMT), 39 percent higher than last year's year-to-date total of 17.0 MMT and 10 percent ahead of the 5-year average pace.
Net sales of 569,100 metric tons (MT) for delivery in marketing year 2016/17 were up 8 percent from the previous week and 10 percent higher than the prior 4-week average. Sales were above trade expectations of 300,000 to 500,000 MT. Increases were primarily for Unknown Destinations (-19,125 HRW, 70,500 HRS, 30,700 SRW, 66,940 white), Mexico (83,906 HRW, 4,332 HRS, 8,411 SRW, 2,972 white), Nigeria (62,000 HRW), South Korea (61,700 white), and Yemen (50,000 white).
USDA forecasts 2016/17 U.S. wheat exports (including donations) to reach 27.9 MMT.