March 22, 2012
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 2011/12 marketing year, through March 15, 2012 were 25.2 million metric tons (MMT), 24 percent lower than last year's year-to-date total of 33.1 MMT.
Net sales of 539,300 MT were up 85 percent from the previous week and 16 percent from the prior 4-week average, and above trade estimates of 400,000 to 500,000 MT. Increases were primarily for Nigeria (97,500 HRW, 13,885 white), Japan (39,333 HRW, 32,500 HRS, 27,825 white), South Korea (24,100 HRW, 14,300 HRS, 34,050 white), the Philippines (44,449 HRS, 21,174 white), Egypt (58,615 HRW), and Panama (8,300 HRW, 8,100 HRS, 4,900 SRW, 1,500 durum).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 27.2 MMT. Commitments to date (of wheat and wheat products) are 93 percent of total projected exports, down from the five-year average of 97 percent of exports committed by this date.
(See attached file: CS 120322.pdf) (See attached file: CS 120322.xls)