February 16, 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 February 9, 2012 were 22.8 million metric tons (MMT), 23 percent lower than last year's year-to-date total of 29.6 MMT.
Net sales of 420,400 MT were down 41 percent from the previous week and 31 percent from the prior 4-week average, and below trade estimates of 450,000 to 650,000 MT. Increases were primarily for Japan (34,432 HRW, 28,366 HRS, 25,177 white), South Korea (10,850 HRW, 4,420 HRS, 65,550 white), Iran (-21,300 HRW, -21,800 HRS, -7,000 SRW, 105,000 white), Italy (17,204 HRS, 25,000 SRW), and Mexico (2,516 HRW, 13,093 SRW, 13,450 white).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 26.5 MMT. Commitments to date (of wheat and wheat products) are 87 percent of total projected exports, down from the five-year average of 90 percent of exports committed by this date.
(See attached file: CS 120216.pdf) (See attached file: CS 120216.xls)