March 15, 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 8, 2012 were 24.7 million metric tons (MMT), 24 percent lower than last year's year-to-date total of 32.5 MMT.
Net sales of 302,400 MT were down 32 percent from the previous week and 39 percent from the prior 4-week average, and below trade estimates of 400,000 to 600,000 MT. Increases were primarily for Spain (68,092 SRW), Iran (60,000 HRW), the Philippines (36,780 HRS, 21,490 white), Thailand (15,000 HRW, 23,000 HRS, 12,000 white), Nigeria (34,168 HRW, -12,000 HRS, 24,000 SRW), Japan (11,901 HRW, 13,662 white, 18,000 durum), and Indonesia (33,346 HRS, 1,887 white).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 27.2 MMT. Commitments to date (of wheat and wheat products) are 92 percent of total projected exports, down from the five-year average of 96 percent of exports committed by this date.
(See attached file: CS 120315.pdf) (See attached file: CS 120315.xls)