August 25, 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 18, 2011 were 11.833 million metric tons (MMT), 9 percent lower than last year's year-to-date total of 13.059 MMT.
Net sales of 347,100 MT for the 2011/12 marketing year were down 37 percent from the previous week and 27 percent from the prior 4-week average, and below trade estimates of 450,000 MT to 750,000 MT. Increases were primarily for Japan (87,100 MT), Mexico (72,300 MT), Egypt (63,000 MT, including 60,000 MT switched from unknown destinations), Iraq (50,000 MT, switched from unknown destinations), Yemen (50,000 MT), and Oman (40,000 MT).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 29.94 MMT. Commitments to date (of wheat and wheat products) are 40 percent of total projected exports, down from the five-year average of 43 percent of exports committed by this date.
(See attached file: CS 110825.xls)(See attached file: CS 110825.pdf)