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July 19, 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 2012/13 marketing year, through July 12, 2012 were 8.03 million metric tons (MMT), 16 percent lower than last year's year-to-date total of 9.59 MMT.

Net sales of 589,200 MT for the 2012/2013 marketing year were up 89 percent from the previous week and 24 percent from the prior 4-week average, and exceeded trade estimates of 350,000 to 500,000 MT. Increases were primarily for Japan (11,270 HRW, 69,784 HRS, 51,540 white), Nigeria (94,500 HRW, 15,000 white), Mexico (56,110 HRW, 144 HRS, 44,288 SRW, 4 durum), Guatemala (38,637 HRW, 15,420 HRS, 21,694 white, 2,534 durum), South Korea (1,856 HRS, 54,746 white), Yemen (55,000 white), and the Philippines (27,645 HRS, 17,000 white).

USDA forecasts 2012/13 U.S. wheat exports (including donations) to reach 32.7 MMT. Commitments to date (of wheat and wheat products) are 25 percent of total projected exports, down from the five-year average of 29 percent of exports committed by this date.

(See attached file: CS 120719.pdf) (See attached file: CS 120719.xls)
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