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March 29, 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 22, 2012 were 25.4 million metric tons (MMT), 24 percent lower than last year's year-to-date total of 33.4 MMT.

Net sales of 226,100 MT were down 58 percent from the previous week and 47 percent from the prior 4-week average, and below trade estimates of 500,000 to 700,000 MT. Increases were primarily for Nigeria (45,255 HRW, 8,614 SRW, 10,885 white), Egypt (60,000 white), South Korea (350 HRW, 950 HRS, 53,150 white), Mexico (35,500 HRW, 449 HRS, 15,978 SRW, -4 white), Spain (46,618 SRW), and Israel (18,234 HRW).

USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 27.2 MMT. Commitments to date (of wheat and wheat products) are 94 percent of total projected exports, down from the five-year average of 99 percent of exports committed by this date.

(See attached file: CS 120329.pdf) (See attached file: CS 120329.xls)
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