Commercial Sales - October 4, 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 September 27, 2012 were 13.1 million metric tons (MMT), 11 percent lower than last year's year-to-date total of 14.7 MMT.
Net sales of 307,000 MT for the 2012/2013 marketing year were down 28 percent from the previous week and 34 percent from the prior 4-week average, and below trade estimates of 450,000 to 575,000 MT. Increases were primarily for Philippines (51,485 HRS, 51,876 white), Nigeria (50,000 HRW, 5,000 white), Japan (15,768 HRW, -1,233 HRS, 24,151 white), South Korea (6,550 HRW, 5,200 HRS, 22,330 white), Dominican Republic (14,980 HRW, 5,411 HRS, 9,282 SRW), Mexico (14,063 HRW, 38 HRS, 5,368 SRW).
USDA forecasts 2012/13 U.S. wheat exports (including donations) to reach 32.7 MMT. Commitments to date (of wheat and wheat products) are 40 percent of total projected exports, down from the five-year average of 60 percent of exports committed by this date.
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