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June 1, 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 May 24, 2012 were 27.9 million metric tons (MMT), 21 percent lower than last year's year-to-date total of 35.3 MMT.

Net sales reductions of 6,400 MT resulted as increases for Spain (75,400 SRW), Ecuador (7,290 HRW, 21,999 SRW), Mexico (14,023 HRW, 568 HRS, 7,725 SRW), Japan (-229 HRW, 21,567 HRS, 353 white, -180 durum), Haiti (19,112 HRW), and South Korea (5,500 white) were more than offset by decreases. Net sales of 325,600 MT for delivery in the 2012/2013 marketing year were primarily for unknown destinations (95,900 MT), Japan (79,900 MT), Venezuela (45,000 MT), the Philippines (29,500 MT), and Jamaica (22,000 MT).

USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 27.9 MMT. Commitments to date (of wheat and wheat products) are 101 percent of total projected exports, down from the five-year average of 104 percent of exports committed by this date.

(See attached file: CS 120601.pdf) (See attached file: CS 120601.xls)
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