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May 10, 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 3, 2012 were 27.5 million metric tons (MMT), 22 percent lower than last year's year-to-date total of 35.3 MMT.

Net sales of 221,600 MT were down 14 percent from the previous week and 39 percent from the prior 4-week average. Increases were primarily for Philippines (70,000 HRS, 25,000 white), Algeria (75,000 HRW), Spain (66,930 SRW), Egypt (56,115 HRW, 2,500 SRW), Taiwan (17,250 HRW, 25,500 HRS, 13,750 white), and Nigeria (27,000 HRW).

USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 27.9 MMT. Commitments to date (of wheat and wheat products) are 102 percent of total projected exports, down from the five-year average of 104 percent of exports committed by this date.

(See attached file: CS 120510.pdf) (See attached file: CS 120510.xls)
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