April 5, 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 29, 2012 were 25.8 million metric tons (MMT), 24 percent lower than last year's year-to-date total of 33.8 MMT.
Net sales of 408,300 MT were up 81 percent from the previous week and 9 percent from the prior 4-week average, and within trade estimates of 300,000 to 500,000 MT. Increases were primarily for Egypt (116,824 SRW), Nigeria (48,255 HRW, 10,829 HRS), Mexico (43,234 HRW, -98 SRW, 212 white), Venezuela (19,650 HRW, 17,100 HRS, 5,061 durum), Taiwan (14,380 HRW, 19,329 HRS, 8,080 white), and China (38,000 HRS).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 27.2 MMT. Commitments to date (of wheat and wheat products) are 96 percent of total projected exports, down from the five-year average of 100 percent of exports committed by this date.
(See attached file: CS 120405.pdf) (See attached file: CS 120405.xls)