January 20, 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 12, 2012 were 20.5 million metric tons (MMT), 25 percent lower than last year's year-to-date total of 27.3 MMT.
Net sales of 587,200 MT for the 2011/2012 marketing year were up 61 percent from the previous week and 81 percent from the prior 4-week average, and exceeded trade estimates of 350,000 to 450,000 MT. Increases were primarily for Japan (47,059 HRW, 52,682 HRS, 41,212 white), South Korea (23,400 SRW, 110,000 white), Nigeria (66,700 HRW, 12,000 HRS, -50 SRW, 17,476 white), Indonesia (65,000 HRW), and Mexico (26,343 HRW, 29,978 SRW).
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 84 percent of exports committed by this date.
(See attached file: CS 120120.pdf) (See attached file: CS 120120.xls)