PDF attached

 

Good
morning

 

CBOT
agriculture markets close normal time today. Closed Thursday night/Fri dec 24th . Re-open Sunday night dec 26th regular time.
https://www.cmegroup.com/tools-information/holiday-calendar.html

 

Look
for a choppy trade ahead of the long holiday weekend.  Agriculture prices are taking a step back before the long holiday weekend after rallying this week.  The soybean complex ended the overnight session lower, corn moderately lower, Chicago wheat lower, KC
lower, and MN higher. Iran bought more than expected soybean meal, corn and wheat. Algeria bought 200-250k durum wheat. USDA export sales were within expectations for soybeans, corn and all-wheat, and exceeded expectations for meal and oil. Sorghum sales were
excellent. USD is higher and WTI crude higher. Argentina and Southern Brazil weather is still unfavorable over the next ten days but early January there is an opportunity for rain. 

 

 

Weather

 

World
Weather Inc.

WORLD
WEATHER HIGHLIGHTS FOR DECEMBER 23, 2021

  • Not
    much change around the world.
  • India
    will have two waves of rain in its key winter crop areas during the second week of the forecast lifting soil moisture for crops ahead of reproduction.
  • Eastern
    Australia will get some rain in summer crop areas, but a reduction in rain was suggested for central New South Wales relative to Wednesday’s outlook.
  • Southern
    Australia late season wheat and barley harvest weather will be dry and warm allowing for rapid fieldwork.
  • Russia’s
    was quite cold this morning, but snow fell across many areas Tuesday and Wednesday raising protection to all winter crops from the cold and no winterkill is anticipated.
    • Russia
      and eastern Europe will continue quite cool for a while, but snow on the ground will continue to protect crops in the coldest areas.
  • Southwestern
    Morocco remains in a serious drought and dryness remains in northwestern Algeria as well and neither area will get much relief.
  • In
    South America, the forecast today has not changed much from that of Wednesday with limited rain for central and eastern Argentina, Uruguay, southern Paraguay and southern Brazil for at least the next ten days and below average precipitation through the month
    of January. 
  • In
    North America, a bitter cold airmass in western Canada will drop into the western and north-central U.S. this weekend and next week bringing a stronger demand for heating fuel, but the cold is not expected to get very far into the central or eastern U.S. 
    • A
      more active weather pattern is likely in the U.S. next week because of bitter cold in the north and west and very warm weather in the southeastern states and southern Plains.
    • The
      storms will not bring much moisture to hard red winter wheat areas, but most other areas in the nation get rain and/or snow multiple times next week and into the first full week of January. 
  • South
    Africa will continue plenty moist
  • Parts
    of the Middle East will get some needed moisture during the second week of the forecast.
  • China’s
    weather will remain tranquil.
  • Southeast
    Asia will see periods of daily rainfall. 

 

Bloomberg
Ag Calendar

Thursday,
Dec. 23:

  • USDA
    weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
  • Port
    of Rouen data on French grain exports
  • U.S.
    cattle on feed, 3pm
  • USDA
    hogs & pigs inventory and production, red meat output, 3pm

Friday,
Dec. 24:

  • No
    Commitment of Traders reports given holidays in U.S. and U.K. CFTC and ICE releases will be out on Monday, Dec. 27

Source:
Bloomberg and FI

 

 

 

 

 

 

Macros

US
Personal Income Nov: 0.4% (exp 0.4%; prev 0.5%)

–     
Personal Spending Nov: 0.6% (exp 0.6%; R prev 1.4%)

–     
Real Personal Spending Nov: 0.0% (exp 0.2%; prev 0.7%)

US
Initial Jobless Claims Dec-18: 205K (exp 205K; R prev 205K)

–     
Continuing Claims Dec-11: 1859K (exp 1835K; R prev 1867K)

US
Durables Goods Orders Nov P: 2.5% (exp 1.8%; prev -0.4%)

–     
Durables Ex-Transportations Nov P: 0.8% (exp 0.6%; R prev 0.3%)

–     
Cap Goods Orders Nondef Ex-Air Nov P: -0.1% (exp 0.7%; R prev 0.9%)

–     
Cap Goods Ship Nondef Ex-Air Nov P: 0.3% (exp 0.6%; prev 0.4%)

US
PCE Core Deflator (M/M) Nov: 0.5% (exp 0.4%; R prev 0.5%)

–     
PCE Core Deflator (Y/Y) Nov: 4.7% (exp 4.5%; R prev 4.2%)

–     
PCE Deflator (M/M) Nov: 0.6% (exp 0.6%; R prev 0.7%)

–     
PCE Deflator (Y/Y) Nov: 5,7% (exp 5.7%; R prev 5.1%)

Canadian
GDP (M/M) Oct: 0.8% (exp 0.8%; prev 0.1%)

–     
GDP (Y/Y) Oct: 3.8% (exp 3.6%; prev 3.4%)

 

Corn

·        
CBOT corn is lower on end of week positioning ahead of the long holiday weekend. Losses are limited from higher WTI crude and Iran buying more than expected amount of corn, although origin was thought to be Brazil. USDA export
sales were ok for corn but a marketing year high for sorghum (China). Argentina and Southern Brazil weather is still unfavorable over the next ten days but early January there is an opportunity for rain. 

·        
South Korea banned imports of Canadian beef after BSE case was reported in an 8-1/2-year-old beef cow in the province of Alberta. The cow did not enter the food or animal feed chain.

·        
Weekly US ethanol production fell a large 36,000 barrels per day to 1.051 million (trade was looking for a 1000 decline) from the previous week and stocks were off 178,000 barrels to 20.705 million (trade was looking for a 168,000-barrel
increase). Early September to date ethanol production is running 8.6% above Pandemic levels year earlier and up 1.1% from the same period in 2019.

·        
USDA cattle on feed & hogs and pigs are due out later today. Side note. all hogs Sept 1 were 2.2% below year earlier. June 1, 2021, was up 0.1% YOY. 

·        
USDA’s Broiler Report showed eggs set in the US up 1 percent and chicks placed down 1 percent. Cumulative placements from the week ending January 9, 2021 through December 18, 2021 for the United States were 9.27 billion, up slightly
from the same period a year earlier.

 

 

 

 

Export
developments.

·        
Iran’s SLAL bought 300,000 tons of corn (more than expected) from Brazil and may have passed on 60,000 tons of animal feed barley.

 

Soybeans

·        
Soybeans, soybean meal and soybean oil are lower on profit taking after rallying earlier this week.  USD was up about 15 points when the electronic session closed.  USDA export sales for the soybean products were very good and
soybeans within expectations. There is ongoing talk over unfavorable SA weather but some of the maps do indicate light at the end of the tunnel during the first weekend of January. 

·        
February rapeseed is 8.50 euros higher at 755.00.

·        
Malaysian palm oil futures increased 30 ringgit to 4478 and cash was up $7.50/ton to $1,127.50/ton.

·        
Offshore values are leading soybean oil 12 points higher and meal $0.50 short ton higher.

·        
Rotterdam meal values were 5-50 euros higher from around this time previous day and Rotterdam oil 1-9 euros higher.

·        
China crush margins on our analysis was last $1.77/bu ($1.79 previous) versus $1.87 at the end of last week and compares to $1.07 a year ago.

·        
China futures were down 0.1% for soybeans, up 2.2% for meal and up 1.6% & 1.7%, respectively for soybean oil and palm oil. 

·        
Argentine producers have sold 36.3 million tons of soybeans from the 2020/21 through Dec. 15, up about 600,000 tons from the previous week and compares to 37 million tons at this time year ago.  36.3 million tons represents about
84 percent of production (43.1MMT by the BA Grains Exchange).

 

Export
Developments

·        
Iran’s SLAL bought 240,000 tons of soybean meal, for shipment between January and February 2022.

 

Wheat

·        
US wheat is lower in Chicago and KC and higher in MN.  Iran bought more than expected milling wheat and Algeria secured 200,000-250,000 tons of durum from Canada and Mexico. 

·        
Paris March wheat futures was 2.50 euros lower, at 289.75/ton.

·        
Ukraine’s trade union said there is no need for the government to set a limit on milling wheat exports in FH 2022. Ukraine has exported 15.6 million tons of wheat so far in the 2021/22 season (July-June), up 27% year on year.

 

Export
Developments.

·        
Iran’s GTC bought 240,000 tons of milling wheat, unknow origin, for an unknow shipment period. Volume was more than expected.

·        
Yesterday Algeria bought 200,000 to 250,000 tons of durum wheat (from Canada and Mexico) for shipment in February. Traders estimated prices from $700 to between $715 to $720 a ton c&f for large bulk carriers and around $5-$6 a
ton more for smaller vessels.

·        
Taiwan Flour Millers’ Association bought 110,000 tons of grade 1 milling wheat to be sourced from the United States for shipment between Feb 1-15 and the second between Feb. 8-22 and second cargo for shipment for some time in
2022. It was of various classes. 

·        
Jordan bought 60,000 tons of feed barley at an estimated $305.24 a ton, cost and freight (c&f) included, for shipment in the first half of August 2022.

·        
Jordan seeks 120,000 tons of milling wheat on December 29 for shipment sometime between June 16 and 30, July 1 and 15, July 16 and 31 and Aug. 1 and 15.

 

Rice/Other

·        
Bangladesh seeks 50,000 tons of non-basmati parboiled rice on December 30 for delivery 50 days from contract award and letter of credit opening.

 

USDA export sales

Soybean, corn, and all-wheat export sales were within expectations while soybean product sales were reported above expectations. Sorghum export sales were excellent with China
taking the bulk of it.  Soybean sales were a marketing year low and included China for 730k including 330k switched from unknown.  In addition to India taking SBO, South Korea, Columbia, Jamaica, and Mexico were also buyers.  SBO sales of 109,500 tons were
a marketing year high.  Corn export sales were within expectations and did not include China, but sorghum sales of 422,100 tons, a marketing year high, included 412,100 tons for China (121,000 switched from unknown).

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING  12/16/2021





























 

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    

95.6

2,213.3

1,660.9

77.2

3,978.3

5,407.7

0.0

14.0

   SRW    

60.2

727.0

496.2

18.9

1,555.3

1,038.0

0.0

34.5

   HRS     

142.9

1,262.7

1,595.7

63.8

2,913.5

3,922.5

0.0

0.0

   WHITE   

126.3

893.2

2,632.7

30.5

1,958.2

2,699.4

0.0

0.0

   DURUM  

0.3

36.2

128.1

0.0

97.2

461.5

33.0

33.0

     TOTAL

425.4

5,132.4

6,513.5

190.4

10,502.6

13,529.0

33.0

81.5

BARLEY

0.0

19.7

15.0

0.9

10.7

15.5

0.0

0.0

CORN

982.9

26,748.1

29,342.1

1,101.4

12,746.3

12,888.9

132.5

1,452.0

SORGHUM

422.1

3,737.6

3,305.9

315.4

1,364.6

1,738.0

0.0

0.0

SOYBEANS

811.5

13,647.8

19,256.1

1,854.7

27,277.2

34,635.6

1.0

141.0

SOY MEAL

300.0

3,282.4

3,062.7

397.4

2,743.0

2,687.0

-1.9

35.6

SOY OIL

109.5

290.2

246.1

4.6

138.3

180.7

0.0

0.1

RICE

 

 

 

 

 

 

 

 

   L G RGH

20.0

167.3

272.9

2.0

579.1

687.1

0.0

0.0

   M S RGH

0.0

6.3

17.3

0.0

2.9

11.6

0.0

0.0

   L G BRN

0.1

3.8

10.9

0.7

26.6

20.6

0.0

0.0

   M&S BR

0.1

68.5

61.3

0.2

15.1

33.9

0.0

0.0

   L G MLD

38.8

80.1

88.8

17.8

342.8

229.5

0.0

0.0

   M S MLD

21.1

80.0

181.5

21.1

148.9

187.0

0.0

0.0

     TOTAL

80.2

406.0

632.7

41.8

1,115.3

1,169.8

0.0

0.0

COTTON

 

THOUSAND RUNNING BALES      

   UPLAND

243.9

7,488.2

6,118.9

131.1

2,770.1

4,978.4

49.4

1,045.9

   PIMA

6.5

234.7

223.9

4.5

130.6

314.5

0.4

4.4

 

This
summary is based on reports from exporters for the period December 10-16, 2021.

Wheat:  Net
sales of 425,400 metric tons (MT) for 2021/2022 were down 35 percent from the previous week, but up 11 percent from the prior 4-week average.  Increases primarily for Japan (130,500 MT), the Philippines (105,500 MT), Mexico (35,000 MT, including decreases
of 11,600 MT), South Korea (35,000 MT), and unknown destinations (31,700 MT), were offset by reductions for Italy (500 MT).  Total net sales of 33,000 MT for 2022/2023 were for unknown destinations.  Exports of 190,400 MT were down 31 percent from the previous
week and 28 percent from the prior 4-week average.  The destinations were primarily to Mexico (68,800 MT), South Korea (55,000 MT), Nigeria (21,100 MT), Italy (19,500 MT), and the Dominican Republic (12,100 MT). 

Export
Adjustments

Accumulated exports of white wheat to Indonesia were adjusted down 1,300 MT for week ending November 25th.  These exports were reported in error. 

Corn: 
Net sales of 982,900 MT for 2021/2022 were down 50 percent from the previous week and 29 percent from the prior 4-week average.  Increases primarily for Japan (345,700 MT, including 126,000 MT switched from unknown destinations and decreases of 1,600 MT),
Mexico (258,000 MT, including decreases of 3,300 MT), Canada (216,700 MT, including decreases of 1,300 MT), Colombia (99,600 MT, including 23,700 MT switched from unknown destinations and decreases of 22,300 MT), and Jamaica (23,200 MT, including decreases
of 9,000 MT), were offset by reductions for unknown destinations (14,100 MT).  Net sales of 132,500 MT for 2022/2023 reported for Japan (76,700 MT) and Mexico (60,000 MT), were offset by reductions for Costa Rica (4,200 MT).  Exports of 1,101,400 MT were up
1 percent from the previous week and 14 percent from the prior 4-week average.  The destinations were primarily to Mexico (349,900 MT), China (208,800 MT), Japan (207,400 MT), Canada (97,900 MT), and South Korea (68,300 MT).

Optional
Origin Sales:
 
For 2021/2022, new optional origin sales of 900 MT were reported for Italy.  The current outstanding balance of 501,000 MT is for unknown destinations (429,000 MT), Italy (63,000 MT), and Saudi Arabia (9,000 MT).

Barley: 
No net sales were reported for the week.  Exports of 900 MT were up 1 percent from the previous week and 47 percent from the prior 4-week average.  The destination was to Japan.

Sorghum: 
Net sales of 422,100 MT for 2021/2022–a marketing-year high–were up 27 percent from the previous week and 57 percent from the prior 4-week average.   Increases were reported for China (412,100 MT, including 121,000 MT switched from unknown destinations and
decreases of 1,500 MT) and unknown destinations (10,000 MT).  Exports of 315,400 MT–a marketing-year high–were up noticeably from the previous week and up 81 percent from the prior 4-week average.  The destination was primarily to China (314,700 MT).

Rice:
 Net
sales of 80,200 MT for 2021/2022 were up 55 percent from the previous week and 70 percent from the prior 4-week average.  Increases were primarily for Haiti (36,700 MT), Japan (13,000 MT), Mexico (11,200 MT, including decreases of 100 MT), Jordan (6,000 MT),
and Costa Rica (5,500 MT).  Exports of 41,800 MT were down 31 percent from the previous week and 45 percent from the prior 4-week average.  The destinations were primarily to Haiti (15,300 MT), Japan (13,000 MT), Jordan (6,000 MT), Canada (3,100 MT), and Mexico
(2,400 MT). 

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

Soybeans: 
Net sales of 811,500 MT for 2021/2022–a marketing-year low–were down 38 percent from the previous week and 42 percent from the prior 4-week average.  Increases primarily for China (730,400 MT, including 330,000 MT switched from unknown destinations and decreases
of 3,300 MT), Mexico (95,100 MT, including 47,500 MT switched from unknown destinations, decreases of 1,600 MT, and 32,700 MT – late), Egypt (94,000 MT), Indonesia (85,000 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT),
and Saudi Arabia (71,100 MT, including 66,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (571,800 MT).  Total net sales of 1,000 MT for 2022/2023 were for Japan.  Exports of 1,854,700 MT were down 3
percent from the previous week and 17 percent from the prior 4-week average.  The destinations were primarily to China (1,050,600 MT), Egypt (122,000 MT), Mexico (112,700 MT), Saudi Arabia (71,100 MT), and Turkey (69,300 MT).

Export
for Own Account:

For 2021/2022, the current exports for own account outstanding balance is 34,600 MT, all Canada.

Late
Reporting:

For 2021/2022, net sales totaling 32,700 MT of soybeans were reported late to Mexico.

Soybean
Cake and Meal:
 
Net sales of 300,000 MT for 2021/2022 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for the Philippines (186,400 MT, including 45,000 MT switched from unknown destinations), Thailand (50,000 MT), Ireland
(25,300 MT, including 24,000 MT switched from unknown destinations), the Dominican Republic (19,500 MT), and Mexico (15,500 MT, including decreases of 2,000 MT), were offset by reductions primarily for Japan (28,600 MT).  Net sales reductions of 1,900 MT for
2022/2023 were reported for Canada (800 MT), Japan (700 MT), and the Netherlands (400 MT).  Exports of 397,400 MT–a marketing-year high–were up noticeably from the previous week and up 54 percent from the prior 4-week average.  The destinations were primarily
to the Philippines (166,100 MT), Mexico (40,000 MT), Ecuador (32,400 MT), Canada (29,300 MT), and Ireland (25,300 MT).

Optional
Origin Sales:
 
For 2021/2022, the current outstanding balance of 50,000 MT is for Venezuela. 

Soybean
Oil:
 
Net sales of 109,500 MT for 2021/2022–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average.  Increases were primarily for India (53,000 MT), South Korea (17,000 MT), Colombia (15,400 MT), Jamaica (10,500 MT),
and Mexico (7,700 MT)Exports of 4,600 MT were down 57 percent from the previous week and 82 percent from the prior 4-week average.  The destinations were to Colombia (4,000 MT), Canada (400 MT), and Mexico (200 MT).

Cotton: 
Net sales of 243,900 RB for 2021/2022 were down 15 percent from the previous week and 21 percent from the prior 4-week average.  Increases were primarily for China (68,700 RB, including 2,200 RB switched from Vietnam and decreases of 8,800 RB), Vietnam (32,700
RB, including 600 RB switched from South Korea and decreases of 100 RB), Turkey (29,000 RB), Pakistan (23,500 RB, including 300 RB switched from the United Arab Emirates), and Mexico (22,800 RB), were offset by reductions for South Korea (1,700 RB), Malaysia
(400 RB), and the United Arab Emirates (300 RB).  Net sales of 49,400 RB for 2022/2023 reported for Mexico (42,900 RB), Pakistan (4,400 RB), Vietnam (1,400 RB), and Indonesia (1,200 RB), were offset by reductions for China (500 RB).  Exports of 131,100 RB
were unchanged from the previous week, but up 27 percent from the prior 4-week average.  The destinations were primarily to China (58,300 RB), Vietnam (17,900 RB), Mexico (10,300 RB), Turkey (10,200 RB), and Pakistan (8,400 RB).  Net sales of Pima totaling
6,500 RB were up noticeably from the previous week, but down 20 percent from the prior 4-week average.  Increases primarily for Thailand (2,600 RB), India (1,400 RB), Pakistan (900 RB), Japan (900 RB), and China (700 RB), were offset by reductions for Egypt
(900 RB).  Total net sales of 400 RB for 2022/2023 were for Egypt.  Exports of 4,500 RB were down 47 percent from the previous week and 30 percent from the prior 4-week average.  The destinations were to China (2,200 RB), India (1,700 RB), Pakistan (400 RB),
and Turkey (200 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 is 100 RB, all Vietnam.

Hides
and Skins:
 
Net sales of 248,300 pieces for 2021 were down 6 percent from the previous week and 25 percent from the prior 4-week average.  Increases primarily for China (157,900 whole cattle hides, including decreases of 6,400 pieces), Mexico (37,500 whole cattle hides,
including decreases of 300 pieces), South Korea (32,100 whole cattle hides, including decreases of 1,600 pieces), Thailand (16,900 whole cattle hides, including decreases of 900 pieces), and Vietnam (2,400 whole cattle hides, including decreases of 1,800 pieces),
were offset by reductions primarily for Italy (1,500 pieces), and Indonesia (900 pieces).  Net sales of 92,000 pieces for 2022 were primarily for China (51,400 whole cattle hides), Thailand (30,600 whole cattle hides), and Mexico (9,500 whole cattle hides). 
In addition, total net sales of 8,400 kip skins were reported for Belgium.  Exports of 435,600 pieces were up 16 percent from the previous week and 18 percent from the prior 4-week average.  Whole cattle hide exports were primarily to China (300,400 pieces),
South Korea (47,800 pieces), Mexico (29,900 pieces), Indonesia (18,900 pieces), and Thailand (14,900 pieces).

Net
sales of 137,400 wet blues for 2021 were up 42 percent from the previous week and 71 percent from the prior 4-week average.  Increases primarily for China (54,600 unsplit), Italy (43,200 grain splits), Thailand (26,300 unsplit), and Vietnam (14,500 unsplit,
including decreases of 9,800 unsplit), were offset by reductions for Japan (900 grain splits), the Dominican Republic (200 unsplit), and Italy (100 unsplit).  Net sales reductions of 11,400 wet blues for 2022 resulting in increases for Vietnam (9,400 unsplit),
were offset by reductions for Italy (20,800 unsplit).  Exports of 137,400 wet blues were down 1 percent from the previous week, but up 14 percent from the prior 4-week average.  The destinations were primarily to Vietnam (41,200 unsplit), China (39,700 unsplit),
Italy (13,700 unsplit and 8,300 grain splits), Thailand (9,500 unsplit), and Japan (9,100 grain splits). 
Net
sales of 1,358,300 splits were primarily for Vietnam (1,356,000 pounds, including decreases of 9,400 pounds).  Net sales of 853,700 splits for 2022 primarily for Vietnam (603,600 pounds), were offset by reductions for China (400 pounds).   Exports of 805,400
pounds were primarily to Vietnam (597,100 pounds).

Beef: 
Net sales of 12,000 MT for 2021 were down 30 percent from the previous week and 23 percent from the prior 4-week average.  Increases primarily for China (3,800 MT, including decreases of 300 MT), Japan (3,700 MT, including decreases of 400 MT), South Korea
(2,800 MT, including decreases of 1,500 MT), Mexico (700 MT), and Taiwan (500 MT, including decreases of 500 MT), were offset by reductions for Hong Kong (300 MT) and Chile (100 MT).  Net sales of 8,100 MT for 2022 were primarily for South Korea (3,200 MT),
China (2,400 MT), Taiwan (900 MT), Japan (700 MT), and Hong Kong (500 MT), were offset by reductions for Vietnam (200 MT).  Exports of 17,900 MT were down 3 percent from the previous week, but up 3 percent from the prior 4-week average.  The destinations were
primarily to South Korea (5,400 MT), Japan (4,600 MT), China (3,100 MT), Mexico (1,800 MT), and Taiwan (1,300 MT). 

Pork: 
Net sales of 28,800 MT for 2021 were down 8 percent from the previous week, but up 5 percent from the prior 4-week average.  Increases primarily for Mexico (14,000 MT, including decreases of 700 MT), South Korea (7,100 MT, including decreases of 600 MT), Japan
(3,800 MT, including decreases of 2,300 MT), Canada (1,600 MT, including decreases of 400 MT), and Nicaragua (900 MT), were offset by reductions for China (300 MT), Australia (200 MT), and Chile (100 MT).  Net sales of 7,000 MT for 2022 were primarily for
Japan (2,800 MT), Mexico (1,600 MT), Canada (1,600 MT), Colombia (1,300 MT), and the Philippines (600 MT), were offset by reductions for South Korea (2,300 MT).  Exports of 32,000 MT were up 6 percent from the previous week, but down 1 percent from the prior
4-week average.  The destinations were primarily to Mexico (14,500 MT), Japan (5,100 MT), China (4,500 MT), South Korea (2,000 MT), and Canada (1,700 MT).

 

Terry Reilly

Senior Commodity Analyst – Grain and Oilseeds

Futures International
One Lincoln Center
18 W 140 Butterfield Rd.

Suite 1450

Oakbrook Terrace, Il. 60181

W: 312.604.1366

treilly@futures-int.com

ICE IM: 
treilly1

Skype: fi.treilly

 

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