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March 1, 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 February 23, 2012 were 23.9 million metric tons (MMT), 23 percent lower than last year's year-to-date total of 31.2 MMT.

Net sales of 414,100 MT were down 41 percent from the previous week and 30 percent from the prior 4-week average, and below trade estimates of 500,000 to 700,000 MT. Increases were primarily for South Korea (610 HRW, 190 HRS, 166,350 white), Thailand (22,250 HRW, 48,242 HRS, 27,875 white), Mexico (14,780 HRW, 2,500 HRS, 26,627 SRW, 46 white), Nigeria (30,000 HRW, 3,000 white), and Taiwan (2,000 HRW, 26,500 HRS).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 26.5 MMT. Commitments to date (of wheat and wheat products) are 91 percent of total projected exports, down from the five-year average of 93 percent of exports committed by this date.

(See attached file: CS 120301.pdf) (See attached file: CS 120301.xls)
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