September 29, 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 September 22, 2011 were 14.2 million metric tons (MMT), 17 percent lower than last year's year-to-date total of 17.1 MMT.
Net sales of 428,900 MT for the 2011/12 marketing year were down 37 percent from the previous week and 13 percent from the prior 4-week average, and below trade estimates of 450,000 MT to 550,000 MT. Increases were primarily for Unknown (-35,000 HRW, 7,000 HRS, -25,500 SRW, 15,000 durum), Mexico (46,082 HRW, 34 HRS, 69,942 SRW), Taiwan (12,705 HRW, 31,938 HRS, 1,000 white), Nigeria (55,000 HRW, 27,500 SRW), Peru (30,772 HRW, 12,000 SRW), and the Philippines (1,484 HRS, 2,315 white).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 27.9 MMT. Commitments to date (of wheat and wheat products) are 51 percent of total projected exports, down from the five-year average of 57 percent of exports committed by this date.
(See attached file: CS 110929.pdf)(See attached file: CS 110929.xls)