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June 21, 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 2012/13 marketing year, through June 14, 2012 were 6.40 million metric tons (MMT), 18 percent lower than last year's year-to-date total of 7.76 MMT.

Net sales of 842,000 MT far exceeded trade estimates of 300,000 to 500,000 MT. Increases were primarily for unknown destinations (92,500 HRW, 12,000 HRS, 7,000 SRW, 110,000 white), Japan (23,095 HRW, 96,004 HRS, 24,360 white), China (114,500 SRW), Nigeria (50,000 HRW, 10,500 SRW), Taiwan (18,097 HRW, 31,036 HRS), and South Korea (9,390 HRW, 8,702 HRS, 23,348 white).

USDA forecasts 2012/13 U.S. wheat exports (including donations) to reach 31.3 MMT. Commitments to date (of wheat and wheat products) are 20 percent of total projected exports, down from the five-year average of 22 percent of exports committed by this date.

(See attached file: CS 120621.pdf) (See attached file: CS 120621.xls)
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