January 5, 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 December 29, 2011 were 19.6 million metric tons (MMT), 24 percent lower than last year's year-to-date total of 25.7 MMT.
Net sales of 138,600 MT--a marketing-year low--for the 2011/2012 marketing year were down 68 percent from the previous week and 64 percent from the prior 4-week average, and below trade estimates of 300,000 to 450,000 MT. Increases were primarily for Japan (33,363 HRW, 20,992 HRS, 30,541 white), Mexico (8,990 HRW, -7,720 SRW, 32,228 white), Israel (26,398 HRW), Singapore (5,000 HRS, 20,000 white), and the Philippines (18,775 HRS, 950 white).
USDA forecasts 2011/12 U.S. wheat exports (including donations) to reach 25.2 MMT. Commitments to date (of wheat and wheat products) are 78 percent of total projected exports, down from the five-year average of 81 percent of exports committed by this date.
(See attached file: CS 120106.pdf) (See attached file: CS 120106.xls)