February 9, 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 2, 2012 were 22.4 million metric tons (MMT), 23 percent lower than last year's year-to-date total of 29.0 MMT.
Net sales of 707,900 MT -- a marketing year high -- were up 36 percent from the previous week and from the prior 4-week average, and exceeded trade estimates of 450,000 to 650,000 MT. Increases were primarily for Iran (6,500 HRW, -8,600 HRS, 120,000 SRW, 65,100 white), Japan (23,106 HRW, 90,513 HRS, 60,608 white), Mexico (51,252 HRW, 28,565 SRW, 49,741 white), Yemen (100,000 white), and Venezuela (12,000 HRW, 15,999 HRS, 4,839 durum).
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 89 percent of exports committed by this date.
(See attached file: CS 120209.pdf) (See attached file: CS 120209.xls)