November 17, 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 November 10, 2011 were 16.8 million metric tons (MMT), 23 percent lower than last year's year-to-date total of 21.8 MMT.
Net sales of 317,100 MT for the 2011/2012 marketing year were up 6 percent from the previous week, but down 5 percent from the prior 4-week average, and below trade estimates of 350,000 to 450,000 MT. Increases were primarily for Mexico (65,144 HRW, 178 HRS, 11,141 SRW, -2,152 white), Nigeria (6,000 white), Japan (220 HRS, 417 white), Venezuela (11,919 HRW), Colombia (816 HRW, 2,000 SRW), and Israel (22,000 MT).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 26.5 MMT. Commitments to date (of wheat and wheat products) are 64 percent of total projected exports, down from the five-year average of 71 percent of exports committed by this date.
(See attached file: CS 111117.pdf) (See attached file: CS 111117.xls)