January 12, 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 January 5, 2012 were 20.0 million metric tons (MMT), 24 percent lower than last year's year-to-date total of 26.2 MMT.
Net sales of 365,200 MT for the 2011/2012 marketing year were up noticeably from the previous week and 17 percent from the prior 4-week average, and within trade estimates of 250,000 to 400,000 MT. Increases were primarily for Japan (35,630 HRW, 39,662 HRS, 78,942 white), Taiwan (23,400 HRW, 48,750 HRS, 12,500 white), Iran (-8,000 HRW, 37,000 HRS, -5,000 SRW, 49,000 white), Mexico (18 HRW, -2,060 HRS, -241 SRW, 46,493 white), and the Philippines (-15,300 HRS, 46,000 white).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 25.9 MMT. Commitments to date (of wheat and wheat products) are 80 percent of total projected exports, down from the five-year average of 81 percent of exports committed by this date.
(See attached file: CS 120112.pdf) (See attached file: CS 120112.xls)