May 24, 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 17, 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 of 72,400 MT--a marketing-year low--were down 78 percent from the previous week and 76 percent from the prior 4-week average. Increases were primarily for Japan (22,829 HRW, 35,410 HRS), Nigeria (37,400 HRW, 5,000 white), Ghana (33,379 HRW), Guatemala (13,582 HRW, 5,000 HRS, 2,500 SRW, 6,482 white, 2,477 durum), El Salvador (10,358 HRW, 4,900 HRS, 700 SRW, 5,500 white), Costa Rica (3,900 HRW, 5,400 HRS, 8,035 SRW).
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 105 percent of exports committed by this date.
(See attached file: CS 120524.pdf) (See attached file: CS 120524.xls)