October 27, 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 October 20, 2011 were 15.9 million metric tons (MMT), 18 percent lower than last year's year-to-date total of 19.4 MMT.
Net sales of 316,800 MT for the 2011/2012 marketing year were down 21 percent from the previous week and 27 percent from the prior 4-week average, and within trade estimates of 300,000 to 500,000 MT. Increases were primarily for Mexico (65,144 HRW, 178 HRS, 11,141 SRW, -2,152 white), Chile (23,535 HRW, 7,150 HRS, 13,315 white), Philippines (9,000 HRW, 29,000 HRS, 31,000 white), Belgium, Venezuela (11,919 HRW), South Korea, 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 60 percent of total projected exports, down from the five-year average of 66 percent of exports committed by this date.
(See attached file: CS 111027.pdf)(See attached file: CS 111027.xls)