FI Evening Grain Comments 09/29/22

PDF Attached

 

Mixed
trade in CBOT agriculture markets ahead of the USDA reports. US equities were sharply lower as US GDP Q2 data officially indicated a recession. WTI crude ended lower.
The
Midwest will be mostly dry with exception of the southeastern areas Sat and Sun.MT, western NE and northern CO will see rain through Sunday.  Mostly dry weather is seen for southwestern Great Plains. Argentina will see additional net drying. Brazil looks good
with rain falling across center west and center south.

 

 

Weather

Nearly
51 percent of the mainland US is experiencing some type of drought, up from 49 percent previous week.

 

 

 

 

World
Weather, INC.

WEATHER
EVENTS AND FEATURES TO WATCH

• Hurricane
  Ian produced damaging wind and flooding rain across a large part of the central and northeastern Florida Peninsula Wednesday
• Property
  damage was extensive especially in the central and southwest with losses greatest near then Naples, Punta Gorda, North Point areas
• Widespread
  power outages remain today and may take weeks to restore
• Peak
  wind speeds reached 145 mph near the coast where the storm came inland and to 80 mph as far to the northeast as central Florida in Polk, Highlands and Okeechobee Counties
• Florida
  citrus tree and fruit losses are suspected, but the extent of the damage is not known
• Sugarcane
  was likely knocked down, but World Weather, Inc. believes that crop will likely recover
  
• Flooding
  has been widespread with up to 18.00 inches of rain officially reported in the southwest, but Doppler Radar suggests more than 20.00 inches in that region
• Rainfall
  in northeastern Florida reached over 10.00 inches and more was expected today
  
• Ian
  is now a tropical storm and just recently moved off the central eastern Florida coast
• The
  storm will now turn to the north with landfall in South Carolina, near or west of Charleston
• The
  storm will come inland as a tropical storm producing 70 mph wind speeds
• Tropical
  Storm Ian will move from the central South Carolina coast to the mountains of North Carolina Friday into Saturday with dissipation likely in western North Carolina Sunday.
  
• Rainfall
  of 2.00 to 6.00 inches and local amounts to 8.00 inches are expected in the Carolinas and Virginia by Monday. there is some potential for 10.00 inch totals near the coast in the Carolinas
• Damage
  to cotton fiber quality is expected and a small amount of crop loss is to be expected
• Other
  crops likely soybeans, unharvested corn and groundnuts are not likely to sustain much damage, although there could be a soybean quality decline
• Flooding
  is expected to be widespread
• Flooding
  expanded from Vietnam into Thailand Wednesday as remnants of Typhoon Noru moved through those areas
• Rainfall
  reached well over 8.00 inches in a part of the region resulting in flooding
• Sugarcane
  should not have been seriously impacted, but a little damage was suspected in eastern Thailand
• The
  storm brought some minor damage to some minor coffee areas as well
• The
  Central Highlands of Vietnam were not negatively impacted by this storm
• Port
  damage may have occurred in the Da Nang area
• Center
  south Brazil rainfall was reduced overnight for today and Friday
• The
  lighter rainfall makes more sense with the recent strengthening of La Nina
• Showers
  are still expected frequently through next week, but some of the resulting rain intensity has been reduced
• The
  impact of these changes will not be great because lighter rain occurs frequently through the next ten days, but some greater rain may eventually be needed in some coffee and citrus production areas
• Brazil’s
  center west grain and oilseed production region is still expected to receive periodic rainfall over the next ten days supporting some early season soybean planting
• Argentina
  rainfall is still expected to be minimal until mid-week next week when some light rain is expected
• the
  moisture will be good for developing wheat, but perhaps still a little light for a serious bolstering of soil moisture for spring planting and long term crop use
• Europe
  continues to heal from summer drought with waves of rain to continue across most of the continent during the next couple of weeks
• Moisture
  improvements are needed most and will be continuing in France and the United Kingdom as well as in other areas, although some of the predicted rainfall was lightened in today’s model runs
• Chatter
  about field working delays has begun with producers becoming concerned that harvesting and planting will be more significantly delayed over time
• Today’s
  forecast of lighter and a little less frequent rain may help put some of these concerns to rest
• Seasonal
  rainfall is unlikely to begin for a while in Spain and Portugal
• Western
  CIS weather continues wet biased with waves of rain expected to continue in most of western Russia
• Some
  of these crop areas have already received significant rain and the ground is saturated and vulnerable to some flooding
• Rainfall
  in the coming week to ten days will bring another 1.00 to 3.00 inches of moisture to this region
• Central
  and southern portions of Russia’s Southern Region are advertised to get rain in the coming week to ten days and if that verifies it will prove to be beneficial for emergence and establishment of winter wheat and rye
• Winter
  crops are establishing well in most of the western CIS, although excessive moisture is beginning to show up across a part of southwestern Russia and drier weather will be needed soon
• Summer
  crop harvesting and winter crop planting will be delayed by expected precipitation, but progress has already advanced well
  
• China’s
  Yellow River Basin and North China Plain have dried out in recent weeks, but that has been a good for wheat planting and summer crop maturation as well as summer crop harvesting
• Rain
  is expected this weekend and it will continue next week with some moderate to heavy amounts expected
• The
  rain will delay fieldwork and could induce some flooding
• Rainfall
  may range from 2.00 to 6.00 inches with a few totals of 8.00 inches or more by the latter part of next week
• The
  moisture will be good for long term crop development, but any flooding might be a deterrent for planting and other field operations for a while
• Last
  year excessive rain fell in the same region causing serious delays to wheat planting resulting in poor planting and emergence conditions that may have hurt production. This year’s rain event is not likely to have the same impact, but it will need to be closely
  monitored
• China’s
  Yangtze River Basin is unlikely to get much rain for at least another week
• Northern
  parts of the basin may get some rain late next week and into the following weekend to lift topsoil moisture temporarily, but much more rain will be needed to end drought
• Drought
  has already cut into rice and other summer crop production
• Worry
  has been rising that if drought lasts much longer it could cut into rapeseed planting and production potential
• Southern
  parts of the Yangtze River Basin will continue dry biased for two weeks
• Northeastern
  China weather is improving with less frequent rain supporting better harvest conditions
• The
  region will not be completely dry, though, and some disruption to fieldwork is possible periodically for brief period of time through the weekend before the driest weather evolves
  
• Xinjiang,
  China weather remains mostly unchanged with good harvest weather for many areas outside of the northeast
• Northeastern
  Xinjiang has been and will continue be impacted by periodic rainfall causing field working delays
• India
  weather has been wetter than usual this month in central, western and northern parts of the nation
• Most
  of the rain expected over the next ten days will be centered on southern and eastern parts of the nation which is relatively normal
• Some
  central areas will continue a little wet and there may still be some concern over the condition of crops that should be maturing at this time of year
• Some
  of the heavy rain advertised in northern India Wednesday for next week has been removed in today’s forecasts and this change was needed
• Heavy
  rain still occurs in parts of Uttar Pradesh and Uttarakhand
• Australia’s
  winter crops remain in good condition, especially in Western Australia
• Crops
  in New South Wales and Victoria have been a little too wet at times and are expected to take a little break from the greatest rain until next week when it will increase again
  
• There
  is potential that crops in these areas will suffer a quality decline later in the year because of anticipated additional rainfall
• Tropical
  Typhoon Kalup was well northeast of Japan today and will dissipate without threatening any part of Asia
• Typhoon
  Roke has formed southeast of the Ryukyu Islands of Japan in the western Pacific Ocean and is unlikely to impact any major landmass as it moves northeast over open water southeast of Japan during the coming week.
  
• South
  Africa precipitation has been and will continue to be beneficial for winter wheat, barley and canola
  
• Most
  of the precipitation will be confined to the southern parts of the nation
• Some
  early corn and other crop areas may receive some needed rain, but more will be necessary to support planting in October and November.
  
• Winter
  crops are still poised to perform well this spring as long as rain continues periodically late this month and into October.
  
• North
  Africa showers at this time of year are always welcome, but have a minimal impact and that will be the case over the next ten days
• Autumn
  planting is still several weeks away
• Mexico’s
  drought in the northeast continues and will not likely end without the help from a tropical cyclone
• With
  that said some significant rain has fallen over the recent weeks in portions of the dry region
• This
  coming week’s rainfall will be trending lighter than usual once again
• Southern
  and western Mexico will get some rain periodically through the next couple of weeks with sufficient amounts to maintain moisture abundance
• Southeast
  Asia rainfall is expected to be frequent and significant during the next ten days to two weeks
  
• All
  areas are expected to be impacted and sufficient rain is expected to bolster soil moisture for long term crop development need
  
• Local
  flooding is expected
• Remnants
  of Typhoon Noru will bring additional flooding rain to parts of Thailand over the next few days
• West-Central
  Africa showers and thunderstorms will continue frequently benefiting coffee and cocoa production areas during the next two weeks.
  
• Some
  rice, cotton and sugarcane will also benefit from this pattern
• East-central
  Africa rainfall will continue to occur most frequent and significantly in Ethiopia, Uganda and southwestern Kenya over the next two weeks
• Good
  coffee, cocoa and other crop development conditions will prevail
• Today’s
  Southern Oscillation Index was +19.58 and it will move erratically over the next several days

Source:
World Weather INC

 

Bloomberg
Ag Calendar

Friday,
Sept. 30:

• USDA’s
  quarterly stockpiles data for wheat, barley, corn, oat, soybeans and sorghum
• US
  wheat production data, noon
• ICE
  Futures Europe weekly commitments of traders report
• CFTC
  commitments of traders weekly report on positions for various US futures and options, 3:30pm
• FranceAgriMer
  weekly update on crop conditions
• US
  agricultural prices paid, received, 3pm
• HOLIDAY:
  Canada

Source:
Bloomberg and FI

 

 

 

 

 

 

Macros

US
GDP Annualized (Q/Q) Q2 T: -0.6% (est -0.6%; prev -0.6%)

US
Personal Consumption Q2 T: 2.0% (est 1.5%; prev 1.5%)

US
GDP Price Index Q2 T: 9.0% (est 8.9%; prev 8.9%)

US
Core PCE (Q/Q) Q2 T: 4.7% (est 4.4%; prev 4.4%)

US
Initial Jobless Claims Sep 24: 193K (est 215K; prevR 209K)

US
Continuing Claims Sep 17: 1347K (est 1385K; prevR 1376K)

Canadian
GDP (M/M) Jul: 0.1% (est -0.1%; prev 0.1%)

Canadian
GDP (Y/Y) Jul: 4.3% (est 4.1%; prev 4.7%)

US
EIA NatGas Storage Change (BCF) 23-Sep: +103 (est +96; prev +103) 

–
Salt Dome Cavern NatGas Stocks (BCF): +5 (prev +12) 

 

Corn

·        
Corn futures ended mixed on positioning ahead of the USDA reports. A lower USD supported the back months. US equities were sharply lower as US GDP Q2 data officially indicated a recession. We don’t look for major changes to Sep
1 stocks for corn and soybeans relative to USDA’s S&D estimates, but this report tends to yield surprises in the past. It’s a flip of the coin this year given how tight stocks have become.

·        
Argentina corn plantings started off at a slow pace but there is time for producers to catch up. The Argentina weather outlook calls for net drying over the next ten days. Largest soil moisture deficits are in Buenos Aires, Santa
Fe, and Entre Rios. La Nina may keep rainfall below average over the next couple of months.

·        
For the US, nearly 51 percent of the mainland US is experiencing some type of drought, up from 49 percent previous week.

·        
Low water levels for the Miss. River have been underpinning spot barge shipping costs.

·        
USDA corn export sales were 512,000 tons, within expectations and up from 182,300 tons previous week. There were 53,200 tons of sorghum sales for unknown destinations. Pork sales were 34,300 tons of pork sales, most of it for
Mexico.

 

USDA
reported US quarterly hogs and pigs.

As
expected. All hogs were 99 percent, breeding 99, and marketing 99 percent. Estimates were 99.2 for All hogs, 99.6 for breeding, and 99.1 for market

https://release.nass.usda.gov/reports/hgpg0922.pdf

 

Export
developments.

·        
South Korea’s KFA bought 69,000 tons of corn at $334.99/ton c&f for arrival around Jan 10.

·        
China plans to release 20,000 tons of frozen pork from reserves on September 30.

 

US
ethanol exports
are on track this year to end up near a record.

 

 

Updated
9/20/22

December
corn is seen in a $6.40-$7.30 range.

 

Soybeans

·        
CBOT soybeans ended higher (good export sales), meal lower and soybean oil was sharply higher. Palm oil snapped a 5-day losing streak. Talk of Brazil slowing crush rates from eroding margins and China cutting back on crush due
to lack of soybeans was supportive. Meal was pressured, in our opinion, from an increase in US crush rates and product spreading.

·        
USDA export sales were ok for meal (shipments) and poor for soybean oil.

·        
Global macro concerns are keeping traders on edge. The big decline in US stocks today spilled over into some of the commodity markets.

·        
A head of a rail company in SA told Reuters that Brazil is more competitive to ship soybeans to China than the US, at least from the perspective for the first half 2022. The rail company, Rumo, plans to build a railroad serving
northern Mato Grosso.

·        
Brazil’s Abiove may downward revise their 2022 crush estimate (48.9 MMT currently) after confirming 8-10 crush plants stopped production after crush margins turned negative. Decline in global soybean oil price was noted. Brazil
has more than 99 soybean crush plants. Reuters quoted an industry professional stating Brazil crush margins are lowest since July 2021. Brazil’s crush capacity is about 202,300 tons per day.

·        
CBOT First Notice Day for October delivery is Friday, and we look for no deliveries.

 

Export
Developments

• We
  heard China book a couple of rapeseed oil cargoes from the EU yesterday.
  

 

 

 

Updated
9/27/22

Soybeans
– November is seen in a $13.85-$15.50 range

Soybean
meal – December $395-$480

Soybean
oil – December 60.00-70.00

 

Wheat

·        
Wheat traded two-sided, ending lower for all three US markets on technical selling despite a lower trade in the USD by the afternoon trading session. USDA export sales were ok. Next week we look for overall export sales, not just
for wheat, but for corn and soybeans to decline after the recent increase in the USD.

·        
There were reports Russian President Vladimir Putin in phone call with Turkey’s Tayyip Erdogan ” that it was necessary to fulfill an internationally brokered deal on Ukrainian grain exports.” (Reuters)

·        
We look for minor changes to US wheat production by class on Friday, when updated by USDA, but some traders are looking for smaller durum and spring wheat production.

·        
Paris December wheat traded two-sided, ending lower by 1.50 euros at 352.25 per ton.

·        
Rhine water levels in Germany has risen from over the past week after rain fell. Reuters noted the Kaub checkpoint, near Koblenz, was at 1.24 meters on Thursday, up from 32 centimeters in August.

·        
Four more food ships left Ukraine, destined for Bangladesh, Libya, Romania, Italy.

·        
The EU is preparing another round of sanctions against Russia after the annex of nearly 15% of Ukraine.

 

Export
Developments.

·        
Japan bought 61,800 tons of food wheat for Oct 21-Nov 20 loading.

• Taiwan
  Flour Millers’ Association bought an estimated 51,800 tons of US milling wheat for shipment from the PNW between Nov. 10 and Nov. 24.
  

• 32,950
  tons of U.S. dark northern spring wheat 14.5% protein content at $440.55 a ton FOB
  
• 13,050
  tons of hard red winter wheat 12.5% protein content at $456.35 a ton FOB
• 5,800
  tons of soft white wheat 9.5% protein content at $374.04 a ton FOB.

• Results
  awaited: The Philippines seek up to 50,000 tons of feed wheat and up to 50,000 tons of feed barley for Jan-Mar shipment.
  

·        
Results awaited: Algeria seeks 50,000 tons of soft milling wheat on September 29 for November shipment.

• Iraq
  seeks 50,000 tons of wheat on October 10.

·        
Pakistan seeks 2 million tons of wheat to meet consumption shortages.

·        
Results awaited: The UN seeks 100,000 tons of wheat for late October and/or November delivery. Destinations included east Africa, Asia and the Middle East.

·        
Jordan seeks 120,000 tons of wheat on October 4. They passed on wheat today
for
March and April shipment.

• Jordan
  retendered for barley set to close October 5 for 120,000 tons.
• Iraq
  seeks 50,000 tons of milling wheat on October 10, optional origin.

·        
China plans to sell 40,000 tons of wheat from reserves on October 12, from the 2014-2017 crops.

 

Rice/Other

·        
Egypt’s rive reserves are sufficient for 3 months.

 

Updated
9/20/22

Chicago
– December $8.00-$10.50

KC
– December $8.75-$11.00

MN
– December $8.75-$11.00

 

 

USDA Export Sales

USDA export sales were mixed in trade sentiment for the soybean complex and (soybeans good 1 million tons and meal shipments and new crop sales were within expectations), ok for corn and
within expectations for wheat.  Crop year corn sales are running nearly 50 percent below this time year ago. Soybean crop year commitments are about 10 percent above last year’s level. There were 53,200 tons of sorghum sales for unknown destinations. Pork
sales were 34,300 tons of pork sales, most of it for Mexico.

 

 

 

Export Sales Highlights

This
summary is based on reports from exporters for the period September 16-22, 2022.  

Wheat:
Net sales of 279,800 metric tons (MT) for 2022/2023 primarily for Guatemala (115,400 MT, including 51,500 MT switched from unknown destinations), Thailand (47,500 MT), Mexico (45,500 MT, including decreases of 13,000 MT), Italy (31,800 MT), and Brazil (30,000
MT), were offset by reductions for unknown destinations (66,300 MT), Malaysia (700 MT), and Costa Rica (400 MT).  Net sales reductions of 29,700 MT for 2023/2024 resulting in increases for South Korea (300 MT), were more than offset by reductions for Brazil
(30,000 MT).  Exports of 620,700 MT were primarily to China (137,400 MT), Chile (71,100 MT), Nigeria (69,700 MT), Mexico (50,000 MT), and Japan (48,200 MT). 

Corn: 
Net sales of 512,000 MT for 2022/2023 primarily for Mexico (321,700 MT, including decreases of 1,800 MT), unknown destinations (57,000 MT), Honduras (51,900 MT), Japan (51,100 MT, including 50,600 MT switched from unknown destinations and decreases of 300
MT), and Panama (44,200 MT), were offset by reductions for Egypt (65,000 MT), Guatemala (7,500 MT), and Costa Rica (3,200 MT). 
Total net sales of 160,000 MT for 2023/2024 were for Mexico. 
Exports of 574,700 MT were primarily to Mexico (239,200 MT), China (141,200 MT), Japan (135,000 MT), El Salvador (19,400 MT), and Venezuela (15,300 MT).  

Barley: 
No net sales or exports were reported for the week. 

Sorghum: 
Net sales of 53,200 MT for 2022/2023 were for unknown destinations (53,000 MT) and Japan (200 MT).  Exports of 4,300 MT were to Mexico (4,100 MT), Japan (100 MT), and China (100 MT). 

Rice:
 Net
sales of 7,900 MT for 2022/2023 were primarily for Guatemala (4,000 MT), Canada (2,200 MT), Honduras (1,000 MT), Mexico (300 MT), and the Dominican Republic (100 MT).  Exports of 47,900 MT were primarily to Honduras (16,500 MT), Japan (12,400 MT), Guatemala
(10,700 MT), Canada (2,000 MT), and El Salvador (2,000 MT).

Soybeans: 
Net sales of 1,003,000 MT for 2022/2023 primarily for China (548,700 MT, including 132,000 MT switched from unknown destinations and decreases of 32,000 MT), Mexico (217,000 MT, including 47,500 MT switched from unknown destinations and decreases of 34,700
MT), Japan (81,600 MT, including 50,400 MT switched from unknown destinations and decreases of 1,900 MT), Egypt (78,000 MT, including decreases of 30,000 MT), and Tunisia (30,000 MT), were offset by reductions for unknown destinations (23,700 MT) and Cuba
(4,000 MT).  Total net sales reductions of 30,000 MT for 2023/2024 were for Tunisia. 
Exports of 269,200 MT were primarily to Japan (85,800 MT), China (78,700 MT), Mexico (61,100 MT), Taiwan (20,600 MT), and Costa Rica (7,900 MT). 

Optional
Origin:
For 2022/2023, the current optional origin outstanding balance is 300 MT, all South Korea.

Export
for Own Account:
For 2022/2023, the current exports for own account outstanding balance is 6,300 MT, all Canada.

Soybean
Cake and Meal: 
Net sales of 86,300 MT for 2021/2022 primarily for Vietnam (48,300 MT), Ireland (30,000 MT), Colombia (6,900 MT, including decreases of 13,400 MT), Kuwait (6,000 MT), and Canada (6,000 MT, including decreases of 200 MT), were offset by reductions primarily
for Costa Rica (7,200 MT), unknown destinations (7,100 MT), Guatemala (2,600 MT), Belgium (1,900 MT), and Japan (600 MT).  Net sales of 150,200 MT for 2022/2023 primarily for the Philippines (90,000 MT), Mexico (26,300 MT), Panama (26,300 MT), Honduras (23,400
MT), and Canada (12,700 MT), were offset by reductions for Ireland (30,000 MT) and Colombia (4,100 MT).  Exports of 249,700 MT were primarily to Colombia (73,300 MT), Vietnam (42,600 MT), Honduras (27,500 MT), Canada (23,000 MT), and the Philippines (21,900
MT).

Soybean
Oil: 
Net sales of reductions of 5,000 MT for 2021/2022 resulting in increases for Canada (1,400 MT), were more than offset by reductions for unknown destinations (6,500 MT).  Total net sales of 700 MT for 2022/2023 were for Canada.  Exports of 2,000 MT were to
Canada (1,900 MT) and Mexico (100 MT).

Cotton: 
Net
sales of 30,200 RB for 2022/2023 primarily for Pakistan (32,400 RB), Nicaragua (8,800 RB), Taiwan (5,300 RB), Vietnam (1,600 RB), and Peru (1,300 RB), were offset by reductions primarily for Turkey (12,600 RB), El Salvador (5,000 RB), and Indonesia (2,500
RB).  Net sales of 41,500 RB for 2023/2024 reported for Pakistan (20,000 RB), Thailand (16,100 RB), Turkey (8,800 RB), Mexico (1,600 RB), and Japan (500 RB), were offset by reductions for Bangladesh (5,500 RB).  Exports of 187,900 RB were primarily to China
(46,800 RB), Vietnam (29,600 RB), Turkey (27,300 RB), Pakistan (21,000 RB), and Bangladesh (17,000 RB).  Net sales of Pima totaling 1,200 RB were primarily for Taiwan (400 RB) and Japan (400 RB). 
Total net sales of 300 RB for 2023/2024 were for Italy.  Exports of 1,000 RB were primarily to Vietnam (700 RB) and South Korea (200 RB). 

Optional
Origin Sales:
For 2022/2023, the current outstanding balance of 10,300 RB is for Malaysia (9,300 RB) and Pakistan (1,000 RB).

Export
for Own Account:
For 2022/2023, current exports for own account outstanding balance of 77,400 RB is for China (40,500 RB), Vietnam (23,900 RB), Turkey (10,600 RB), India (1,500 RB), Pakistan (500 RB), and Indonesia (400 RB).

Hides
and Skins: 
Net sales of 337,400 pieces for 2022 primarily for China (250,800 whole cattle hides, including decreases of 20,500 pieces), South Korea (30,800 whole cattle hides, including decreases of 2,000 pieces), Thailand (24,100 whole cattle hides, including decreases
of 1,900 pieces), Mexico (11,600 whole cattle hides, including decreases of 600 pieces), and Indonesia (4,200 whole cattle hides, including decreases of 600 pieces), were offset by reductions primarily for Canada (5,900 pieces). 
Total net sales reductions of 1,200 calf skins were for Italy, including decreases of 2,200 calf skins.  In addition, net sales of 11,700 kip skins were primarily for Canada (5,600 kip skins, including decreases of 300 kip skins)
and China (4,000 kip skins).  Exports of 442,200 whole cattle hides exports were primarily to China (288,100 pieces), South Korea (41,300 pieces), Mexico (31,400 pieces), Thailand (26,600 pieces), and Brazil (15,000 pieces).  In addition, exports of 4,500
kip skins were primarily to Canada (2,700 kip skins).

Net
sales of 130,400 wet blues for 2022 primarily for Thailand (39,100 unsplit), Vietnam (35,600 unsplit, including decreases of 100 unsplit), China (33,800 unsplit, including decreases of 100 unsplit), Taiwan (8,200 unsplit), and Switzerland (8,000 unsplit),
were offset by reductions for Italy (100 grain splits) and Hong Kong (100 unsplit).  Total net sales of 1,300 unsplit for 2023 were for Italy.  Exports of 177,700 wet blues were primarily to Vietnam (50,600 unsplit), Italy (34,800 unsplit and 8,800 grain),
China (37,900 unsplit), Thailand (21,200 unsplit), and Taiwan (9,700 unsplit). Net sales of 18,800 splits reported for China (10,500 pounds) and Vietnam (10,100 pounds, including decreases of 900 pounds), were offset by reductions for South Korea (1,800 pounds). 
Exports of 395,800 pounds were to Vietnam (221,300 pounds) and China (174,500 pounds).

Beef: 
Net sales of 21,500 MT for 2022 were primarily for South Korea (7,300 MT, including decreases of 400 MT), China (6,000 MT, including decreases of 100 MT), Japan (3,500 MT, including decreases of 900 MT), Canada (1,200 MT, including
decreases of 100 MT), and Mexico (1,100 MT).  Net sales of 600 MT for 2023 were primarily for Japan (500 MT).  Exports of 18,300 MT were primarily to Japan (5,100 MT), China (4,200 MT), South Korea (4,000 MT), Mexico (1,400 MT), and Canada (800 MT). 

Pork: 
Net sales of 34,300 MT for 2022 were primarily for Mexico (23,700 MT, including decreases of 200 MT), South Korea (2,900 MT, including decreases of 800 MT), China (2,000 MT, including decreases of 200 MT), Japan (1,800 MT, including decreases of 200 MT), and
Canada (1,400 MT, including decreases of 400 MT).  Total net sales
of 100 MT for 2023 were for Mexico.  Exports of 27,200 MT were primarily to Mexico (13,000 MT), China (4,400 MT), Japan (2,800 MT), South Korea (2,000 MT), and Canada (1,600

U.S. EXPORT SALES FOR WEEK ENDING  09/22/2022

 

	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	18.1	869.2	1,567.8	205.3	2,140.7	2,691.4	0.0	1.7
SRW	176.8	591.4	666.7	76.1	1,443.2	1,048.5	-30.0	0.0
HRS	40.1	1,096.3	988.5	171.3	1,993.6	1,988.9	0.0	0.0
WHITE	26.3	907.8	582.0	128.3	1,476.0	1,419.0	0.3	0.3
DURUM	18.5	93.7	60.5	39.8	73.9	61.4	0.0	0.0
TOTAL	279.8	3,558.5	3,865.5	620.7	7,127.3	7,209.2	-29.7	2.0
BARLEY	0.0	11.6	25.5	0.0	3.9	4.7	0.0	0.0
CORN	512.0	11,394.3	23,794.1	574.7	1,601.3	1,522.0	160.0	250.5
SORGHUM	53.2	276.3	2,235.7	4.3	16.6	115.6	0.0	0.0
SOYBEANS	1,003.0	25,516.1	23,224.8	269.2	1,214.3	975.1	-30.0	0.0
SOY MEAL	86.3	598.5	1,001.3	249.7	11,502.3	11,346.5	150.2	2,176.3
SOY OIL	-5.0	21.9	22.4	2.0	675.9	675.2	0.7	6.5
RICE
L G RGH	5.0	52.5	185.5	29.2	72.2	175.1	0.0	0.0
M S RGH	0.0	15.0	8.0	0.1	1.6	1.2	0.0	0.0
L G BRN	0.1	2.7	4.4	0.3	2.3	13.4	0.0	0.0
M&S BR	0.0	5.7	54.3	0.6	1.7	13.9	0.0	0.0
L G MLD	0.5	137.1	139.7	2.7	83.5	133.5	0.0	0.0
M S MLD	2.3	23.8	68.4	15.0	63.1	66.6	0.0	0.0
TOTAL	7.9	236.7	460.3	47.9	224.5	403.7	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	30.2	6,193.5	5,708.3	187.9	1,825.9	1,515.5	41.5	995.2
PIMA	1.2	89.7	160.4	1.0	14.2	54.6	0.3	0.3