FI Evening Grain Comments 12/02/21

PDF Attached

 

Higher
trade in the US agriculture markets on higher outside related commodity markets and rally in equities.

 

Private
exporters reported the following:

164,100
metric tons of soybeans for delivery to unknown destinations during the 2021/2022 marketing year

130,000
metric tons of soybeans for delivery to China during the 2021/2022 marketing year

 

OPEC+
Agrees To Go Ahead With Planned January Oil Output Rise – RTRS Citing OPEC+ Source. WTI plunged post OPEC announcement but rebounded by around 9 am CT.

 

 

Weather

 

 

 

World
Weather Inc.

MOST
IMPORTANT WEATHER AROUND THE WORLD

• NO
  SIGNIFICAN CHANGES TODAY VERSUS WEDNESDAY
• West-central
  India received moderate to heavy rain Wednesday
• Areas
  along the Maharashtra coast received up to 4.04 inches of rain through dawn today and the precipitation was continuing at the time of this report
• Local
  flooding might occur, but not very likely
• The
  precipitation will spread across central India today while diminishing
• Some
  disruption to harvesting is occurring, but any crop quality declines that result should be brief with drier weather returning soon
  
• India’s
  weather elsewhere over the next week will be variable
• A
  tropical cyclone is evolving in the central Bay of Bengal today and it will impact areas from Odisha to Bangladesh Saturday through Monday
• The
  center of the storm at 0230 GMT today was located near 9.6 north, 90.4 east or 629 miles east southeast of Chennai, India moving west northwesterly and producing maximum wind speeds of 20-25 mph
• Some
  heavy rain will fall along the coast, but very little crop damage is expected except possibly in coastal areas
• Good
  harvest and planting weather will continue from the heart of India northward through the next ten days due to limited rain and warm temperatures.
• Additional
  waves of flooding rain is expected in southwestern British Columbia and western most Washington State including some of the more important ports from the Puget Sound into Vancouver and neighboring areas of British Columbia
• Delays
  in the loading and shipping of some goods and services may result due to flooding
• Net
  drying is still expected in central and eastern Argentina and southern Brazil as well as neighboring areas of Uruguay and southern Paraguay during the next ten days and perhaps longer
• Crop
  moisture stress is unlikely in this first week of the  outlook due to seasonably to  slightly milder than usual temperatures and good subsoil moisture sprinkled with a few showers as well
• Crop
  stress may begin to show in a few areas during  the  second  week of December, but there will be no threat to production during these two weeks
• Rain
  will be imperative in the second half of December to protect production of soybeans and early corn as well as rice, cotton and a few other crops produced in the driest region.
• Wheat
  harvest progress in southern Brazil  will advance well during  the drier days
  
• Argentina
  wheat development, maturation and harvesting should advance relatively well with the moisture already in the ground and the anticipated drier tendency.
• Center
  west, northern parts of center south and northeastern Brazil  crop weather will continue plenty wet and crop development should advance relatively well during the next two  weeks
  
• A
  few areas may be a little too wet, but the impact on crops will not be very great unless this pattern continues into  the harvest season – which is possible
• South
  Africa crop weather will be improving during the next two weeks as more frequent rain evolves and reaches into all of the nation with better coverage
• Planting
  of summer crops will advance better around the rainfall and early season crop development should advance well
• Eastern
  Australia is getting a break from rain over the  next several days and fieldwork will be slow to improve in parts of Queensland and New South Wales after recent weeks of frequent rain
• The
  region is expecting more rain to pop up late in this weekend through most of  next week, but it  should be more  sporadic and variable favoring Queensland more than New South Wales
• Resulting
  rainfall will not be as heavy or as frequent as that in previous weeks, but any moisture in unharvested wheat, barley and canola areas might be a concern
• The
  bottom line looks better for eventual field progress for areas that have been most impacted by recent rain – at least for a little while. Summer crop planting and emergence along with early growth should improve for a few days while the wetter areas in Queensland
  and New South Wales dry down for a little while. Summer crop development and fieldwork will also improve in Queensland and parts of New South Wales.
  
• Western
  and southern Australia winter crop maturation and  harvest weather has been mostly good and improving
• These
  trends will continue to favor farm progress and no threats of grain or oilseeds quality declines
• China’s
  weather during the next ten days will continue relatively quiet with only brief and light precipitation resulting
  
• Northern
  wheat production areas were trending dormant or semi-dormant and winter crops should be adequately established
• Rapeseed
  planting should be winding down in the Yangtze River Basin
• Soil
  moisture is favorably rated for good rapeseed establishment
• Western
  Russia, Ukraine and much of Europe will experience an active weather pattern during the next ten days to two weeks
• Waves
  of rain and some snow will occur through this first week of the Outlook, but in the second week the wettest conditions will occur in Russia, Ukraine, Baltic States and  Belarus
• Precipitation
  totals will be sufficient to bring a boost in soil moisture and runoff
• Winter
  crops will continue dormant or semi-dormant in much of the European Continent and western Asia, though some warming is expected in eastern parts of this region
• Western
  Russia and eastern Europe will trend colder next week and into the following weekend, although no bitter cold conditions are expected
• Middle
  East weather is a little dry from Syria, Iraq and Jordan to Iran while portions of Turkey have favorable soil moisture.
  
• Eastern
  parts of the Middle East may experience additional drying for a while
• Western
  Turkey will be wettest
• North
  Africa rainfall is expected to occur most frequently and significantly in eastern and central coastal areas of Algeria and northern Tunisia the remainder of this week
  
• A
  boost in rainfall is needed in Morocco, northwestern Algeria and interior parts of northeastern Algeria and Tunisia
• West-central
  Africa rainfall during the next ten days will be greatest in coastal areas leaving most interior coffee, cocoa, sugarcane, rice and cotton production areas in a favorable maturation and harvest environment
  
• U.S.
  weather was dry in many important crop areas Tuesday
• Some
  rain fell in the  lower eastern Midwest where moisture totals were rarely as great as 0.25
• Temperatures
  turned much warmer in the Plains with 60- and 70-degree heat northward into Montana and extreme southern Alberta Canada
• The 
  heat is expected continue today and expand to the  east
• U.S.
  Hard red winter wheat production areas will not likely get significant precipitation over the next week to eight days
• Any
  showers that evolve are not likely to have an impact on soil or crop conditions
• Dryness
  will prevail
• U.S.
  precipitation in the coming ten days will be greatest from eastern Texas and the Delta into the lower and eastern most Midwest
  
• The
  greatest rain this week will be from eastern Texas and the Delta through the Tennessee River Basin to the lower eastern Midwest late Saturday into Sunday and again during mid-week next week
  
• Some
  areas will end up with 1.00 to 2.50 inches of rain by late next week with this week’s precipitation lightest and most sporadic
• Heavier
  rain has been advertised in the Delta and Tennessee River Basin where some flooding might occur
• Rain
  totals in these areas may range from 2.00 to 4.00 inches with some forecast models suggesting more than 6.00 inches
• A
  few showers will also occur in the southeastern states, but the region southeast of the Appalachian Mountains will experience net drying
  
• Today’s
  GFS  forecast model is too wet for northern Alabama to western North Carolina, but this is not a crop region
• Brief
  periods of light snow and rain will impact the northern Plains with greater precipitation in along the Canada border especially this weekend when 2-6 inches and local totals over 8 inches will accumulate
• Northern
  North Dakota, northern Minnesota, far southern Manitoba and extreme southern Saskatchewan will be most impacted along with southern Alberta
• Stormy
  weather in the Pacific Northwest will continue to include heavy rain in coastal British Columbia, the Cascade Mountains of western Washington and western Oregon as well as the mountains of northern Idaho and immediate neighboring areas
  
• Flooding
  in southwestern British Columbia and western Washington may continue to impact transportation and more delays in shipping
• West
  Texas will be mostly dry as will California crop areas
• Southeastern
  Canada’s grain and oilseed areas will experienced alternating periods of rain and snow maintaining a slow finish  to late season fieldwork at times
• the 
  moisture will maintain favorable conditions for wheat use in the  spring
• The
  bottom line for the United States and southern Canada will change little over the next ten days. Dry conditions in hard red winter wheat areas may be a concern, but crops will stay in favorable condition until spring due to winter dormancy or semi-dormancy.
  The exception to that will be from the Texas Panhandle to Colorado and extreme western Kansas as well as Montana where conditions are driest. There is also concern for unirrigated wheat in Oregon. Late season summer crop harvesting is winding down in the Midwest,
  Delta and southeastern Canada (Ontario and Quebec) where there is need for better drying conditions. Dryness in southern California and the southeastern United States is great for summer crop harvesting and winter crop planting.
  
• Colombia
  and Venezuela rainfall was lighter than usual earlier this month
• Precipitation
  is expected to occur more often in coffee and sugarcane production areas during the next ten days  in Colombia and western Venezuela
• No
  excessive rain is expected
• Central
  America rainfall will be erratic over the next two weeks with the greatest rain expected in Caribbean and Gulf of Mexico coastal areas
• Much
  of southeastern Asia will see alternating periods of rain and sunshine
• This
  will impact Vietnam, Thailand, Cambodia, Laos, the Philippines, Indonesia and Malaysia
• Some
  net drying is expected in Sumatra, Indonesia, but soil moisture is abundant there today and a little drying might be welcome
• Today’s
  Southern Oscillational Index was +12.32 and it was expected to move erratically over the coming week
  
• New
  Zealand rainfall is expected to be near normal in the coming week except along the  west coast of South Island where excessive rain is possible
• Temperatures
  will be seasonable

 

 

Bloomberg
Ag Calendar

Thursday,
Dec. 2:

• FAO
  World Food Price Index
• USDA
  weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
• Port
  of Rouen data on French grain exports
• Gapki’s
  Indonesian Palm Oil Conference, day 2

Friday,
Dec. 3:

• ICE
  Futures Europe weekly commitments of traders report (6:30pm London)
• CFTC
  commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
• Canada’s
  Statcan releases wheat, durum, canola, barley, soybean production data
• FranceAgriMer
  weekly update on crop conditions

Source:
Bloomberg and FI

 

 

 

Statistics
Canada
will release Canadian crop production on Friday at 7:30 a.m. CST.  Traders are looking for all-wheat to be up about 500,000 tons from September (durum average 100,000 tons below Sep.), and a slightly upward revision to barley, corn and soybeans. For canola,
the average trade guess suggests no change.

 

 

USDA
export sales
overall were disappointing, with a couple exceptions.  USDA export sales were a marketing year low for all-wheat at 79,900 tons with a few minor reductions.  This was a surprise. Soybean sales were ok at 1.063 million tons. Most of the Chinese sales of 657,100
tons were switched from unknown (462,000 switched).  Soybean meal sales amounted to 146,700 tons, within expectations and shipments were good at 263,900 tons.  Soybean oil sales of 49,300 tons were within expectations. Corn sales of 1.021 million tons were
within expectations and Mexico (423,800 MT, including decreases of10,200 MT), Canada (198,200 MT, including decreases of 1,100 MT), and Japan (118,400 MT switched from unknown destinations). Sorghum sales were 284,700 tons (China 337,700 MT, including 118,300
MT switched from unknown destinations). Pork sales were 41,400 tons (China 12,400 tons).

 

 

 

Macros

US
Initial Jobless Claims: 222K (est 240K, prevR 194K)

US
Continuing Claims: 1956Mln (est 2Mln, prevR 2.063Mln)

OPEC+
Agrees To Go Ahead With Planned January Oil Output Rise – RTRS Citing OPEC+ Source

US
EIA NatGas Storage Change (BCF) 26-Nov: -59 (est -58; prev -21)

75
Counterparties Take $1.449 Tln At Fed Reverse Repo Op. (prev $1.427 Tln, 75 Bids)

 

Corn

·        
CBOT corn
traded higher today on talk of renewed demand. The March contract has been in a wide $5.57 and $5.9675 range for nearly a month. Export sales were ok. WTI added to the support in corn (and soybean oil). Easing concerns over the latest Covid-19 variant rallied
the equity markets which in turn supported commodities.

·        
Funds bought an estimated net 8,000 corn contracts.

·        
The Argentina Buenos Aires grains exchange estimate the corn area at 7.3 million hectares, up from a previous 7.1 million. Argentina production was left unchanged at 55 million tons. One third of the Argentina corn crop had been
planted.

·        
Germany reported another ASF case in the eastern German state of Mecklenburg-Vorpommern.

·        
Sweden reported a bird flu outbreak on a small farm in the southern part of the country.

 

Export
developments.

·        
None reported

 

Updated
11/23/21

March
corn is seen in a $5.25-$6.25 range

 

Soybeans

·        
Soybeans
ended higher on additional talk China bought US soybeans overnight. 24-hour sales to China and unknown for 2020-21 delivery verified the buying. This makes it two days in a row they bought from the US and Brazil for December and January shipment. The number
of cargoes that traded so far this week is unknown at this time. We heard China is not fully covered for January so additional sales are not out of reach.

·        
Funds bought an estimated net 9,000 soybean contracts, were even in meal and bought 6,000 soybean oil. 

·        
Soybean oil opened lower on weakness in WTI crude oil but turned higher on strength in other outside markets. The market saw additional support after WTI turned higher. WTI was last $1.39 higher at 66.94.

·        
A Reuters news article mentioned the EPA is expected to announce a US RVO mandate decision in coming days. We will be monitoring it. earlier this year Reuters picked up that the EPA was planning on
reducing blending
mandates for 2020 and 2021 to about 17.1 billion gallons and 18.6 billion gallons, respectively, compared to the 20.1 billion gallons finalized for 2020 before the pandemic.

·        
Soybean meal was higher to start but saw pressure on product spreading after soybean oil rallied. March ended slightly lower and back months higher.

·        
The Argentina Buenos Aires grains exchange estimate the soybean crop at 44 million tons.

·        
Argentina may soon roll out a producer friendly 2022-23 farm plan, focusing on corn, wheat and beef.

 

Export
Developments

·        
Private exporters reported the following:

-164,100
metric tons of soybeans for delivery to unknown destinations during the 2021/2022 marketing year

-130,000
metric tons of soybeans for delivery to China during the 2021/2022 marketing year

 

Updated
11/30/21

Soybeans
– January $11.75-$13.00 range, March $11.75-$13.50

Soybean
meal – January $320-$370, March $315-$380

Soybean
oil – January 54.00-59.00, March 54.00-62.00

 

Wheat

·        
US wheat ended sharply higher after Saudi Arabia issued another import tender and Tunisia bought wheat. There was talk Iraq may have bought wheat.  Another bullish factor was a rumor that Russia will soon impose a wheat export
quota. We look for quotas to be set in place sometime during the January or February period.

·        
Funds bought an estimated net 13,000 soft red winter wheat contracts.

·        
March Matif Paris wheat was 9.00 euros higher at 295.75. March contract hit a high of 296.25, just shy from filling a gap of 297.00.

 

Export
Developments.

·        
Tunisia bought 100,000 tons of soft wheat, 92,000 tons of durum, and 100,000 tons of feed barley. 

·        
Saudi Arabia is back in 535,000 tons of wheat on Friday for arrival between May and July 2022.

·        
Jordan bought 60,000 tons of wheat at $351.50/ton c&f for second half June shipment.  They were in for 120,000 tons.

·        
Japan bought only 26,263 tons of food wheat from the US. They may have passed on 25,510 tons. Original details as follows.

·        
Bangladesh seeks 50,000 tons of milling wheat on Dec. 8. 

 

Rice/Other

·        
South Korea seeks 22,000 tons of rice from the US on December 9 for arrival in South Korea from May 2022 and from August 2022.

 

Updated
11/26/21

Chicago
March $7.50-$8.75

KC
March $7.75-$9.25

MN
March $9.50-$11.50

 

 

USDA export sales.

This
summary is based on reports from exporters for the period November 19-25, 2021.

Wheat:  Net
sales of 79,900 metric tons (MT) for 2021/2022–a marketing-year low–were down 86 percent from the previous week and 80 percent from the prior 4-week average.  Increases primarily for Colombia (38,400 MT), Mexico (16,800 MT, including decreases of 2,300 MT),
Malaysia (9,000 MT, including 10,400 MT switched from the Philippines and decreases of 1,800 MT), El Salvador (7,000 MT), and Guatemala (4,300 MT), were offset by reductions for Peru (1,400 MT), the Philippines (600 MT), and Indonesia (200 MT).  Total net
sales of 26,000 MT for 2022/2023 were for Colombia.  Exports of 371,400 MT were up 87 percent from the previous week and 66 percent from the prior 4-week average.  The destinations were primarily to the Philippines (184,400 MT), Taiwan (52,100 MT), Mexico
(48,400 MT), Malaysia (28,400 MT), and Honduras (21,000 MT). 

Corn: 
Net sales of 1,020,800 MT for 2021/2022 were down 29 percent from the previous week and 12 percent from the prior 4-week average.  Increases primarily for Mexico (423,800 MT, including decreases of 10,200 MT), Canada (198,200 MT, including decreases of 1,100
MT), Japan (118,400 MT switched from unknown destinations), Colombia (88,900 MT, including 52,500 MT switched from unknown destinations and decreases of 53,500 MT), and Costa Rica (76,500 MT, including 9,300 MT switched from Guatemala and decreases of 4,100
MT), were offset by reductions for unknown destinations (4,200 MT).  Total net sales of 300 MT for 2022/2023 were for Costa Rica.  Exports of 938,400 MT were up 1 percent from the previous week and 5 percent from the prior 4-week average.  The destinations
were primarily to Mexico (382,400 MT), China (138,000 MT), Japan (118,500 MT), Colombia (110,800 MT), and Canada (49,000 MT).

Optional
Origin Sales: 
For 2021/2022, the current outstanding balance of 498,700 MT is for unknown destinations (429,000 MT), Italy (60,700 MT), and Saudi Arabia (9,000 MT).

Barley: 
No net sales were reported for the week.  Exports of 1,000 MT were unchanged the previous week, but up noticeably from the prior 4-week average. The destination was to Japan.

Sorghum: 
Net sales of 284,700 MT for 2021/2022 resulting in increases for China (337,700 MT, including 118,300 MT switched from unknown destinations), were offset by reductions for unknown destinations (53,000 MT).  Exports of 186,900 MT were down 13 percent from the
previous week, but up noticeably from the prior 4-week average.  The destinations were to China (186,700 MT) and Mexico (200 MT).

Rice:
 Net
sales of 32,900 MT for 2021/2022 were down 56 percent from the previous week and 47 percent from the prior 4-week average.  Increases primarily for El Salvador (8,000 MT), Mexico (7,300 MT), Iraq (7,100 MT), Haiti (2,100 MT), and Saudi Arabia (2,100 MT), were
offset by reductions for Costa Rica (1,500 MT).  Exports of 105,000 MT–a marketing-year high–were up 6 percent from the previous week and 65 percent from the prior 4-week average.  The destinations were primarily to Iraq (44,000 MT), Israel (19,200 MT),
Costa Rica (10,300 MT), Haiti (9,100 MT), and El Salvador (7,800 MT).

Exports
for Own Account:
For 2021/2022, new exports for own account totaling 100 MT were to Canada.  The current exports for own account outstanding balance is 100 MT, all Canada.

Soybeans: 
Net sales of 1,063,400 MT for 2021/2022 were down 32 percent from the previous week and 29 percent from the prior 4-week average.  Increases primarily for China (657,100 MT, including 462,000 MT switched from unknown destinations and decreases of 3,200 MT),
Egypt (68,000 MT, including 66,000 MT switched from unknown destinations and decreases of 4,900 MT), Thailand (67,600 MT, including 66,000 MT switched from unknown destinations), Germany (66,900 MT), and Bangladesh (62,000 MT, including 60,000 MT switched
from unknown destinations), were offset by reductions primarily for unknown destinations (43,000 MT) and Turkey (9,800 MT).  Total net sales reductions of 48,000 MT for 2022/2023 were for unknown destinations.  Exports of 2,327,100 MT were up 3 percent from
the previous week, but down 14 percent from the prior 4-week average.  The destinations were primarily to China (1,410,200 MT), Egypt (311,400 MT), Taiwan (97,700 MT), Mexico (94,500 MT), and Thailand (71,200 MT).

Export
for Own Account:
For 2021/2022, new exports for own account totaling 59,400 MT were for Canada.  The current exports for own account outstanding balance is 100,600 MT, all Canada.

Export
Adjustments:  Accumulated
exports of soybeans to the Netherlands were adjusted down 66,910 MT for week ending November 11^th.  The correct destination for this shipment is Germany. 

Soybean
Cake and Meal: 
Net sales of 146,700 MT for 2021/2022 were up 7 percent from the previous week, but down 29 percent from the prior 4-week average.  Increases primarily for Guatemala (50,000 MT, including decreases of 800 MT), unknown destinations (28,000 MT), Mexico (24,800
MT, including decreases of 3,500 MT), the Dominican Republic (24,000 MT), and Canada (7,400 MT), were offset by reductions for Thailand (4,600 MT), Belgium (2,100 MT), Colombia (1,200 MT), and the Leeward Windward Islands (100 MT).  Net sales reductions of
1,000 MT for 2022/2023 were for Japan (600 MT) and the Netherlands (400 MT).  Exports of 263,900 MT were down 5 percent from the previous week, but up 19 percent from the prior 4-week average.  The destinations were primarily to the Philippines (92,200 MT),
Thailand (45,400 MT), Colombia (26,800 MT), Mexico (26,400 MT), and Canada (22,200 MT). 

Soybean
Oil: 
Net sales of 49,300 MT for 2021/2022 were up 17 percent from the previous week and 50 percent from the prior 4-week average.  Increases primarily for India (30,000 MT), Algeria (22,000 MT switched from unknown destinations), Mexico (19,200 MT), Guatemala (18,000
MT), and the Dominican Republic (600 MT), were offset by reductions for unknown destinations (22,000 MT) and Morocco (19,000 MT).  Exports of 44,400 MT were up noticeably from the previous week and from the prior 4-week average.  The destinations were to Algeria
(22,000 MT), South Korea (19,000 MT), Mexico (2,900 MT), and Canada (500 MT).

Cotton: 
Net sales of 374,900 RB for 2021/2022 were up 90 percent from the previous week and up noticeably from the prior 4-week average.  Increases primarily for Vietnam (147,100 RB, including 1,600 RB switched from China, 200 RB switched from Japan, and decreases
of 200 RB), China (123,600 RB), Turkey (55,000 RB), Pakistan (36,600 RB), and South Korea (2,300 RB, including 1,800 RB switched from Vietnam), were offset by reductions for Malaysia (200 RB).  Exports of 71,400 RB were down 27 percent from the previous week
and 29 percent from the prior 4-week average.  The destinations were primarily to China (23,700 RB), Mexico (14,800 RB), Vietnam (9,000 RB), Turkey (6,000 RB), and Pakistan (5,800 RB).  Net sales of Pima totaling 6,400 RB–a marketing-year low–were down 65
percent from the previous week and 67 percent from the prior 4-week average.  Increases primarily for China (2,600 RB), Thailand (1,300 RB), India (1,000 RB), Vietnam (900 RB), and Egypt (400 RB), were offset by reductions for Bangladesh (900 RB).  Exports
of 2,300 RB were down 63 percent from the previous week and 69 percent from the prior 4-week average.  The destinations were to India (1,000 RB), Turkey (400 RB), Pakistan (400 RB), Thailand (400 RB), and Peru (100 RB).

Optional
Origin Sales: 
For 2021/2022, the current outstanding balance of 8,800 RB is for Pakistan. 

Exports
for Own Account: 
For 2021/2022, the current exports for own account outstanding balance of 100 RB is for Vietnam. 

Hides
and Skins: 
Net sales of 334,500 pieces for 2021 were down 25 percent from the previous week and 35 percent from the prior 4-week average.  Increases primarily for China (178,000 whole cattle hides, including decreases of 7,700 pieces), Mexico (58,800 whole cattle hides,
including decreases of 1,300 pieces), Thailand (45,800 whole cattle hides, including decreases of 500 pieces), South Korea (42,600 whole cattle hides, including decreases of 1,500 pieces), and Cambodia (5,300 whole cattle hides), were offset by reductions
primarily for Vietnam (2,000 pieces) and Canada (1,800 pieces).  Net sales of 68,600 pieces for 2022 were primarily for China (44,500 whole cattle hides), Mexico (10,900 whole cattle hides), Italy (6,500 whole cattle hides), and Vietnam (3,600 whole cattle
hides).  Exports of 374,000 pieces were up 5 percent from the previous week, but down 2 percent from the prior 4-week average.  Whole cattle hide exports were primarily to China (267,700 pieces), South Korea (47,700 pieces), Mexico (22,400 pieces), Thailand
(15,000 pieces), and Indonesia (8,400 pieces).

Net
sales of 146,400 wet blues for 2021 were up noticeably from the previous week and up 89 percent from the prior 4-week average.  Increases reported for Vietnam (77,900 unsplit, including decreases of 100 pieces), China (53,900 unsplit, including decreases of
100 unsplit), Italy (11,200 grain splits, 1,500 unsplit, and decreases of 100 unsplit), Mexico (2,600 unsplit), and Hong Kong (1,000 unsplit), were offset by reductions for Brazil (1,200 unsplit), Japan (400 grain splits), and Thailand (100 unsplit).  Net
sales of 17,800 wet blues for 2022 were reported for China (5,600 unsplit), Brazil (4,200 unsplit), Italy (4,000 unsplit), and Hong Kong (4,000 unsplit).  Exports of 134,100 wet blues were up 28 percent from the previous week and 13 percent from the prior
4-week average.  The destinations were primarily to Italy (45,100 unsplit and 5,500 grain splits), Vietnam (36,400 unsplit), China (26,800 unsplit), Thailand (13,000 unsplit), and Japan (3,600 grain splits). 
Net
sales of 340,500 splits were reported for China (209,900 splits, including decreases of 100 splits) and Vietnam (130,600 splits).  Total net sales reductions of 117,700 splits for 2022 were for Vietnam.  Exports of 201,000 pounds were to Vietnam (160,000 pounds)
and China (41,000 pounds).

Beef: 
Net sales of 21,600 MT for 2021 were up 12 percent from the previous week and 5 percent from the prior 4-week average.  Increases primarily for South Korea (10,700 MT, including decreases of 3,100 MT), China (3,300 MT, including decreases of 300 MT), Japan
(2,900 MT, including decreases of 800 MT), Mexico (2,000 MT), and Chile (900 MT), were offset by reductions for Italy (100 MT) and Thailand (100 MT).  Net sales of 10,400 MT for 2022 primarily for South Korea (7,000 MT), Japan (2,200 MT), Vietnam (300 MT),
Taiwan (300 MT), and Hong Kong (200 MT), were offset by reductions for China (100 MT).  Exports of 16,500 MT were down 9 percent from the previous week and 6 percent from the prior 4-week average.  The destinations were primarily to South Korea (4,500 MT),
Japan (4,000 MT), China (3,000 MT), Taiwan (1,500 MT), and Mexico (1,200 MT). 

Pork: 
Net sales of 41,400 MT for 2021 were up noticeably from the previous week and up 48 percent from the prior 4-week average.  Increases were primarily for Mexico (19,600 MT, including decreases of 600 MT), China (12,400 MT, including decreases of 300 MT), Japan
(3,700 MT, including decreases of 100 MT), South Korea (1,600 MT, including decreases of 200 MT), and Colombia (1,100 MT, including decreases of 100 MT).  Net sales of 4,100 MT for 2022 were primarily for South Korea (1,500 MT), Canada (1,300 MT), Chile (400
MT), Colombia (300 MT), and Mexico (200 MT).  Exports of 36,500 MT were up 26 percent from the previous week and 13 percent from the prior 4-week average.  The destinations were primarily to Mexico (19,800 MT), Japan (4,700 MT), South Korea (3,200 MT), China
(3,100 MT), and Colombia (1,900 MT).

 

U.S. EXPORT SALES FOR WEEK ENDING  11/25/2021

FAX 202-690-3275

	CURRENT MARKETING YEAR						NEXT MARKETING YEAR
COMMODITY	NET SALES	OUTSTANDING SALES		WEEKLY EXPORTS	ACCUMULATED EXPORTS		NET SALES	OUTSTANDING SALES
		CURRENT YEAR	YEAR AGO		CURRENT YEAR	YEAR AGO
	THOUSAND METRIC TONS
WHEAT
HRW	48.5	1,979.3	1,530.5	97.7	3,709.5	4,949.4	14.0	14.0
SRW	22.3	601.3	393.6	23.1	1,478.7	1,000.5	12.0	34.5
HRS	6.0	1,113.7	1,520.8	172.5	2,729.3	3,594.9	0.0	0.0
WHITE	3.1	748.0	2,503.1	78.0	1,811.4	2,433.9	0.0	0.0
DURUM	0.0	52.4	172.4	0.1	96.8	393.0	0.0	0.0
TOTAL	79.9	4,494.6	6,120.3	371.4	9,825.8	12,371.6	26.0	48.5
BARLEY	0.0	21.6	30.4	1.0	8.5	12.4	0.0	0.0
CORN	1,020.8	25,783.6	27,920.3	938.4	9,646.7	10,372.9	0.3	565.2
SORGHUM	284.7	3,278.9	3,255.7	186.9	754.3	1,275.5	0.0	0.0
SOYBEANS	1,063.4	16,096.7	25,211.2	2,327.1	21,070.4	27,059.5	-48.0	0.0
SOY MEAL	146.7	3,576.3	3,192.9	263.9	1,851.1	1,908.4	-1.0	34.4
SOY OIL	49.3	211.7	289.7	44.4	91.4	100.3	0.0	0.0
RICE
L G RGH	15.0	165.6	245.8	20.6	495.2	531.2	0.0	0.0
M S RGH	0.0	6.5	19.4	0.0	2.6	9.5	0.0	0.0
L G BRN	0.4	1.8	10.4	7.6	24.7	11.7	0.0	0.0
M&S BR	0.1	68.5	16.1	0.2	14.8	33.3	0.0	0.0
L G MLD	12.6	66.0	48.1	54.9	306.2	197.8	0.0	0.0
M S MLD	4.7	80.4	195.6	21.7	127.9	139.8	0.0	0.0
TOTAL	32.9	388.7	535.5	105.0	971.3	923.2	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	374.9	6,952.6	5,733.9	71.4	2,392.7	4,127.1	0.0	921.9
PIMA	6.4	242.2	235.9	2.3	109.0	251.1	0.0	3.1