November 10, 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 November 3, 2011 were 16.5 million metric tons (MMT), 21 percent lower than last year's year-to-date total of 20.8 MMT.
Net sales of 298,400 MT for the 2011/2012 marketing year were down 7 percent from the previous week and 22 percent from the prior 4-week average, and below trade estimates of 350,000 to 450,000 MT. Increases were primarily for South Korea, Philippines (9,000 HRW, 29,000 HRS, 31,000 white), Mexico (65,144 HRW, 178 HRS, 11,141 SRW, -2,152 white), Nigeria (6,000 white), Guatemala, El Salvador (2,000 HRS, 1,600 SRW), and Japan (220 HRS, 417 white).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 26.5 MMT. Commitments to date (of wheat and wheat products) are 62 percent of total projected exports, down from the five-year average of 69 percent of exports committed by this date.
(See attached file: CS 111110.pdf) (See attached file: CS 111110.xls)