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November 29, 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 2012/13 marketing year, through November 22, 2012 were 16.1 million metric tons (MMT), 10 percent lower than last year's year-to-date total of 17.9 MMT.

Net sales of 279,300 MT for the 2012/2013 marketing year were down 56 percent from the previous week and 27 percent from the prior 4-week average, and below trade estimates of 400,000 to 500,000 MT. Increases were primarily for Japan (887 HRW, 1,409 HRS, 74,667 white), China (55,000 white), Yemen (50,000 white), Guatemala (17,970 HRW, 5,743 HRS, 2,000 SRW), South Korea (5,700 HRW, 5,100 HRS, 13,700 white), and the Philippines (23,000 HRS).

USDA forecasts 2012/13 U.S. wheat exports (including donations) to reach 29.9 MMT. Commitments to date (of wheat and wheat products) are 54 percent of total projected exports, down from the five-year average of 74 percent of exports committed by this date.

(See attached file: CS 121129.pdf) (See attached file: CS 121129.xls)
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