August 18, 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 11, 2011 were 11.486 million metric tons (MMT), 4 percent lower than last year's year-to-date total of 11.982 MMT.
Net sales of 548,800 MT for the 2011/12 marketing year were up 46 percent from the previous week and 30 percent from the prior 4-week average, and below trade estimates of 550,000 MT to 650,000 MT. Increases were primarily for Japan (63,164 HRW, 2,797 HRS, 72,493 white), Nigeria (53,382 HRW, 10,000 HRS), Mexico (56,811 HRW, 3,895 SRW), South Korea (14,213 HRW, 5,852 HRS, 24,235 white), Panama (12,900 HRW, 14,550 HRS, 11,750 SRW, 1,500 durum), Venezuela (13,800 HRW, 19,500 HRS).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 29.94 MMT. Commitments to date (of wheat and wheat products) are 38 percent of total projected exports, down from the five-year average of 41 percent of exports committed by this date.
(See attached file: CS 110818.pdf)(See attached file: CS 110818.xls)