December 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 December 22, 2011 were 19.5 million metric tons (MMT), 24 percent lower than last year's year-to-date total of 25.7 MMT.
Net sales of 431,200 MT for the 2011/2012 marketing year were up 19 percent from the previous week and 7 percent from the prior 4-week average, and exceeded trade estimates of 200,000 to 350,000 MT. Increases were primarily for Nigeria (142,642 HRW), Mexico (36,533 HRW, 18,000 HRS, 21,023 SRW), Philippines (8,000 HRW, 31,432 HRS, 16,777 white), Canada (55,000 white), and Venezuela (8,800 HRW, 15,000 HRS, 5,000 durum).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 25.2 MMT. Commitments to date (of wheat and wheat products) are 78 percent of total projected exports, down from the five-year average of 80 percent of exports committed by this date.
(See attached file: CS 111229.pdf) (See attached file: CS 111229.xls)