October 20, 2011
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 October 13, 2011 were 15.6 million metric tons (MMT), 18 percent lower than last year's year-to-date total of 18.9 MMT.
Net sales of 399,400 MT for the 2011/2012 marketing year were down 17 percent from the previous week and 21 percent from the prior 4-week average, and below trade estimates of 450,000 to 600,000 MT. Increases were primarily for Japan (220 HRS, 417 white), China (2,014 SRW), Nigeria (6,000 white), Mexico (65,144 HRW, 178 HRS, 11,141 SRW, -2,152 white), Philippines (9,000 HRW, 29,000 HRS, 31,000 white), and Guatemala.
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 26.5 MMT. Commitments to date (of wheat and wheat products) are 59 percent of total projected exports, down from the five-year average of 64 percent of exports committed by this date.
(See attached file: CS 111020.pdf)(See attached file: CS 111020.xls)