December 8, 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 December 1, 2011 were 18.3 million metric tons (MMT), 23 percent lower than last year's year-to-date total of 23.7 MMT.
Net sales of 427,200 MT for the 2011/2012 marketing year were down 15 percent from the previous week and 1 percent from the prior 4-week average, and below trade estimates of 450,000 to 650,000 MT. Increases were primarily for Nigeria (69,800 HRW), Japan (69,700), Mexico (696 HRW, -1,029 HRS, 67,570 SRW, -197 white), Thailand (23,000 HRW, 36,647 HRS, 27,500 white), Unknown (-84,500 HRW, 13,000 HRS, 48,000 white), Brazil (27,000), Philippines (3,000 HRW, 69,600 HRS, 40,630 white), and Colombia (3,000 HRW).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 26.5 MMT. Commitments to date (of wheat and wheat products) are 70 percent of total projected exports, down from the five-year average of 76 percent of exports committed by this date.
(See attached file: CS 111208.pdf) (See attached file: CS 111208.xls)