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December 1, 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 24, 2011 were 17.9 million metric tons (MMT), 23 percent lower than last year's year-to-date total of 23.2 MMT.

Net sales of 503,000 MT for the 2011/2012 marketing year were down 18 percent from the previous week, but up 30 percent from the prior 4-week average, and within trade estimates of 350,000 to 550,000 MT. Increases were primarily for Philippines (3,000 HRW, 69,600 HRS, 40,630 white), Thailand (23,000 HRW, 36,647 HRS, 27,500 white), South Korea (6,100 HRW, 1,900 HRS, 200 SRW, 68,500 white), Nigeria (69,800 HRW), Mexico (696 HRW, -1,029 HRS, 67,570 SRW, -197 white), and Taiwan (11,600 HRW, 23,493 HRS, 198 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 68 percent of total projected exports, down from the five-year average of 74 percent of exports committed by this date.

(See attached file: CS 111124.pdf) (See attached file: CS 111124.xls)
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