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January 26, 2012

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 January 19, 2012 were 21.1 million metric tons (MMT), 25 percent lower than last year's year-to-date total of 28.1 MMT.

Net sales of 604,700 MT for the 2011/2012 marketing year were up 3 percent from the previous week and 59 percent from the prior 4-week average, and within trade estimates of 500,000 to 700,000 MT. Increases were primarily for South Korea (6,488 HRW, 7,500 HRS, -5 SRW, 182,058 white), Mexico (27,184 HRW, 99,579 SRW), Japan (50,295 HRW, 922 HRS, 34,424 white, 36 durum), Indonesia (61,000 HRS), and Yemen (50,000 white).

USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 25.9 MMT. Commitments to date (of wheat and wheat products) are 83 percent of total projected exports, down from the five-year average of 85 percent of exports committed by this date.

(See attached file: CS 120126.pdf) (See attached file: CS 120126.xls)
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