August 20, 2004

 

 

US Wheat Export Sales Favorable

 

US wheat export sales totals hit a marketing-year high last week, USDA reported.

 

Wheat sales totaled 743,200 tons or 27.3 million bushels.

 

According to the USDA, net sales of 743,200 metric tons (MT) -- a marketing-year high -- were 31 percent above the previous week and 42 percent over the prior 4-week average.

 

Major increases for Pakistan (234,000 MT--the first reported activity since the 1998/99 marketing year), Mexico (87,200 MT), Peru (84,900 MT), Nigeria (76,700 MT), Egypt (58,300 MT), and Japan (41,800 MT) were partially offset by decreases for unknown destinations (30,200 MT).

 

In addition, sales and exports of 22,500 MT were reported for Sudan--the first activity since the 2000/01 marketing year.

 

Exports of 446,100 MT were 29 percent below the previous week and 25 percent under the prior 4-week average. The primary destinations were Peru (64,400 MT), Egypt (58,300 MT), China (48,700 MT), South Korea (45,200 MT), the Philippines (44,700 MT), and Nigeria (44,700 MT).

 

Accumulated exports of 29,500 MT previously reported for Colombia has been switched to Israel.

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