September 1, 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 August 25, 2011 were 12.2 million metric tons (MMT), 13 percent lower than last year's year-to-date total of 14.083 MMT.
Net sales of 369,200 MT for the 2011/12 marketing year were up 6 percent from the previous week, but down 17 percent from the prior 4-week average, and within trade estimates of 350,000 MT to 550,000 MT. Increases were primarily for Mexico (52,560 HRW, 142 HRS, 10,247 SRW, 1,115 white), Iraq (50,000 HRW), South Korea (8,500 HRW, 18,500 HRS, -8 SRW, 15,500 white), Peru (35,042 HRW), Nigeria (30,524 HRW, 2,500 white), Philippines (1,450 HRS, 28,742 white).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 29.94 MMT. Commitments to date (of wheat and wheat products) are 41 percent of total projected exports, down from the five-year average of 46 percent of exports committed by this date.
(See attached file: CS 110901.pdf)(See attached file: CS 110901.xls)