U.S. Wheat Exports Down Substantially This Year

By CnAgri Print

According to the U.S. Department of Agriculture weekly Export Sales Report, total known outstanding sales and accumulated exports of all classes of U.S. wheat for the 2012/13 marketing year, through Oct. 25, were 14.7 million metric tons. That's 9 percent lower than last year's year-to-date total of 16.2 MMT.

Commitments to date are 47 percent of total projected exports, down from the five-year average of 67 percent of exports committed by this date.

Through Oct. 25, U.S. hard red winter sales were 5.72 MMT, soft red winter sales were 2.06 MMT, hard red spring sales were 3.85 MMT, white wheat, club and hard white sales were 2.74 MMT and durum sales were 0.34 MMT.

USDA's outlook for 2012/13 U.S. wheat exports remains bullish, however. Export prices for other origins have increased as exportable supplies tightened and production forecasts expect smaller crops in the southern hemisphere. After U.S. wheat prices ran up with corn in June and July, they have been fairly steady for several weeks. So while U.S. sales are running at a slower pace than last year (when U.S. total sales reached 28.2 MMT), USDA currently predicts that total U.S. wheat sales will reach 31.3 MMT.