December 22, 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 December 15, 2011 were 19.0 million metric tons (MMT), 25 percent lower than last year's year-to-date total of 25.2 MMT.
Net sales of 362,300 MT for the 2011/2012 marketing year were up 14 percent from the previous week, but down 22 percent from the prior 4-week average, and within trade estimates of 300,000 to 450,000 MT. Increases were primarily for Taiwan (200 SRW), Japan (31,958 HRW, 22,974 HRS, 23,780 white), Nigeria (3,052 HRW, 10,000 SRW), South Korea (2,478 HRW, 1,290 HRS, 897 white), Venezuela (16,000 HRS), Mexico (5,625 HRW, 5,000 SRW, 47,687 white), and the Dominican Republic (10,000 HRW, 7,540 HRS).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 25.2 MMT. Commitments to date (of wheat and wheat products) are 76 percent of total projected exports, down from the five-year average of 79 percent of exports committed by this date.
(See attached file: CS 111222.pdf) (See attached file: CS 111222.xls)