FI Evening Grain Comments 10/28/21

PDF Attached

 

Higher
grains on ongoing wheat demand and lower trade in soybeans.  Soybean oil was under pressure again from lower energy prices and overbought oil share. 

 

 

Weather

 

 

World
Weather Inc.

MOST
IMPORTANT WEATHER AROUND THE WORLD

• Very
  warm to Hot temperatures occurred in Argentina again Wednesday
• The
  past two days of hot weather has accelerated drying rates and stress winter and spring crop
• The
  need for rain is steadily rising especially in the west-central and northwestern portions of the nation where it has been driest
• No
  rain fell Wednesday or early today
• Northwestern
  Argentina will get some welcome and needed rain Friday into Saturday with temporary relief from heat and dryness in Santiago del Estero, northwestern Santa Fe, northwestern Chaco and northwestern Formosa
• Rain
  amounts of 0.30 to 1.00 and local totals of 1.00 to 2.00 inches will result
• Southwestern
  Argentina will get some welcome rain Saturday into Monday with rainfall of 0.75 to 2.50 inches
  
• The
  moisture will be extremely welcome and good for crop development over the next week to ten days
• Eastern
  Argentina, Southern Brazil, Uruguay and far southern Paraguay will receive light amounts of rainfall during the next 10 days to two weeks, although not completely dry
• This
  is a classic La Nina pattern and the bias for less than usual precipitation in these areas will likely become a festering issue during November  eventually leaving behind a growing moisture deficit
• For
  now, many crops in this described region are adequately to excessively wet and a short term drying bias might be good for agriculture especially in southern Brazil and southern Paraguay
• Brazil’s
  greatest rainfall in the next ten days will occur from Mato Grosso to Minas Gerais and a part of Sao Paulo with some heavy rain possible in portions of Goias and Minas Gerais
  
• The
  greatest rainfall will occur next week at which time “some” local flooding might occur
  
• Well-timed
  rainfall is expected elsewhere in the nation’s summer crop areas
• Less
  rain than usual will fall in southern Brazil during the same period which may help reduce moisture surpluses in the topsoil and help expedite fieldwork after some additional drying takes place.
  
• Tropical
  Depression 26W dissipated over Cambodia Wednesday
• No
  serious crop damaging weather occurred in Vietnam’s Central Highlands or any part of Cambodia
• Vietnam’s
  central coast will see improving weather during the next ten days
• Rainfall
  of 20 to more than 50 inches has impacted central coastal areas of Vietnam this month and flooding has been quite serious at times
• Drier
  weather is expected, but completely dry weather is unlikely with a new period of rainy weather possible next week
• Western
  and northern Colombia agricultural areas will be closely monitored over the next few weeks as the potential for flooding increases.
  
• The
  risk may be greatest starting in the second week of the forecast and continuing into mid-November.
  
• Coffee,
  sugarcane, corn and a host of other crops may eventually impacted by too much rain
• Western
  Venezuela may also be involved with the excessive moisture
• U.S.
  weather will be rainy today and Friday in parts of the Corn Belt, Delta and southeastern states with the eastern Midwest and parts of the southeastern states still wet into Saturday
  
• The
  additional rainfall of 0.50 to 1.50 inches and local totals to 2.00 inches will occur and after previous rain this week already saturated the fields farming activity will be further delayed
• Harvest
  delays will continue into next week, although drier weather and cooler temperatures will occur
  
• The
  cooling may slow drying rates
• Winter
  wheat planting delays will also continue
• Western
  portions of U.S. hard red winter wheat production areas will be dry biased for the next week, despite a few brief showers
• The
  region needs rain especially in unirrigated fields in the high Plains region
• These
  areas will likely remain drier biased well into the winter, although not completely dry
• The
  high Plains region may get some rain and snow briefly during the second weekend of the two week outlook, but confidence in its significance is low
• Eastern
  wheat areas have plenty of moisture and are experiencing a good establishment environment
  
• Recent
  rain and mountain snow in the U.S. Pacific Northwest has helped improve water supply and runoff potentials
• There
  is still need for greater moisture in the Yakima Valley, Columbia River Basin and Snake River Valley
• Some
  additional precipitation will impact these areas periodically over the next two weeks with mountains getting far greater precipitation than the valleys
• Northern
  California may see some periodic light precipitation over the next ten days, but no more heavy, soaking, rainfall is expected for a while
• Runoff
  form the recent excessive precipitation event is raising water reservoir levels in many areas
• Southern
  California remains drought ridden and needs significant rain that is not likely to occur anytime soon
• Montana
  and neighboring areas of Canada’s Central Prairies will experience some brief bouts of rain and snow late this week as colder air arrives
• The
  moisture will be good for surface moisture boosting, but much more is needed to ensure better winter crop establishment
• Some
  of Montana and southern Alberta should see improved soil moisture later this autumn and winter
• Ontario
  and Quebec, Canada will receive less frequent and less significant rainfall after this weekend
• Ontario
  has been frequently wet this autumn slowing harvest progress for corn and soybeans
• Some
  wheat planting has also been slowed
• Quebec
  weather has not been nearly as wet
• South
  Africa will receive some shower and thunderstorm activity during the next ten days that will help moisten up topsoil for more aggressive spring planting
• The
  precipitation will be erratic and light for a while with today and Friday wettest followed by almost a week of drying
• India’s
  greatest rain will be in the southern one-third of the nation for a while
• Some
  heavy rain may fall along the lower east coast next week
• Some
  showers will occur in the eastern states as well
• The
  greatest drying will be in the central and north which will translate into a very good environment for winter wheat, rapeseed, millet, sorghum and pulse crop planting as well as supporting summer crop harvesting
• Northern
  and east-central China weather will be favorably dry-biased over the next ten days supporting good summer crop maturation and harvest conditions
• Winter
  grain and rapeseed planting will also advance favorably
• Rain
  in southwestern China may disrupt farming activity for a while, but no serious harm will come to unharvested crop quality
• Central
  and western Xinjiang, cotton, corn and other crop harvesting is advancing relatively well while periodic showers in northeastern production areas have slowed fieldwork at times and raised some cotton quality concerns as well
• Europe
  weather will remain very good for the next few days and then trend wetter from the northwest half of the Iberian Peninsula through France and into western Germany this weekend into next week
• The
  moisture will be well timed for the recently planted winter crops and should help them emerge and establish favorably
• Eastern
  Europe will remain in a dry weather mode for another week along with Ukraine and much of Russia’s winter crop region in the Volga River Basin
• Most
  of the crops in these areas should be established well enough to get through winter, but snow cover will be needed in parts of the region during extreme cold to protect crops – especially those that may not be as well established as they should be
  
• A
  boost in eastern Europe and western CIS precipitation is expected in the second week of the outlook, Nov. 2-8
• Typhoon
  Malou was located 11 miles east of Iwo To near 25.6 north, 142.1 east moving north northeasterly at 16 mph and producing wind speeds to 98 mph near the storm center
• The
  storm will stay to the southeast of Japan and will pose no threat to land
• A
  mid-latitude storm 350 miles south of Nova Scotia, Canada will move to the east ending all the windy and wet weather of the past two days in the northeastern United States
• Australia
  weather continues nearly ideal for the development of winter wheat, barley and canola
• A
  boost in rainfall is needed in the interior east to support better spring planting for cotton and sorghum
• Most
  winter wheat, barley and canola production areas will continue to experience highly favorable weather conditions, although there is some concern over the potential for wet harvest conditions in a part of the east.
• Southeast
  Asia will see routinely occurring rainfall maintaining moisture abundance in Indonesia, Philippines, Malaysia and the mainland areas of Southeast Asia.
• A
  Low pressure center in the south-central Mediterranean Sea will move erratically over the next few days possibly producing some heavy rain in Sicily and neighboring southern Italy
• North
  Africa showers will end today with a few more possible next week
• Greater
  rain will be needed in November to support autumn planting of wheat and barley
• Central
  Africa will continue to experience periodic rain into the end of this week maintaining good coffee, cocoa, sugarcane, rice, cotton and other crop conditions
• Drier
  weather will soon be needed in some cotton, coffee and cocoa areas in west-central parts of Africa and some of that change is expected this weekend into next week
  
• Weather
  this weekend into next week will trend drier favoring better crop maturation conditions
• Southern
  Mexico will be wetter than usual over the next ten days causing some delay to fieldwork
• Central
  America rainfall will be greater than usual in El Salvador and Guatemala and near to below average elsewhere
• Central
  Asia cotton and other crop harvesting will advance swiftly as dry and warm conditions prevail
• Today’s
  Southern Oscillational Index was +9.83 and it was expected to drift lower a little further over the next few days
• New
  Zealand weather is expected to be a wetter biased in North Island over the next week and drier than usual in most other areas
  
• Temperatures
  will be seasonable.

 

Bloomberg
Ag Calendar

Thursday,
Oct. 28:

• USDA
  weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, and beef, 8:30am
• Port
  of Rouen data on French grain exports

Friday,
Oct. 29:

• 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
• Vietnam’s
  General Statistics Office releases October trade data
• FranceAgriMer
  weekly update on crop conditions
• U.S.
  agricultural prices paid, received, 3pm

Source:
Bloomberg and FI

 

Macros

78
Counterparties Take $1.385 Tln At Fed Reverse Repo Op. (prev $1.433 Tln, 75 Bidders)

US
Initial Jobless Claims Oct 23: 281K (est 288K; prev 290K)

–
Continuing Jobless Claims Oct 16: 2243K (est 2420K; prev 2481K)

livesquawk
US GDP Annualized (Q/Q) 3Q A: 2.0% (est 2.6%; prev 6.7%)

–
Personal Consumption 3Q A: 1.6% (est 0.9%; prev 12.0%)

–
GDP Price Index 3Q A: 5.7% (est 5.3%; prev 6.1%)

–
Core PCE (Q/Q) 3Q A: 4.5% (est 4.5%; prev 6.1%)

Canada
Non-Farm Payrolls Rose 59.7K In August To 16.7M

 

Corn

·        
CBOT corn traded higher again on strength in wheat and money flow into agriculture commodities. 

·        
Weekly export sales were on the lower side for corn, wheat, and the soybean complex. 

·        
There were no USDA 24-hour sales despite rumors yesterday China’s import arb was favorable for them to commit to NA corn. 

·        
Funds bought an estimated net 6,000 corn contracts.

 

Export
developments.

• None
  reported

 

 

 

Updated
10/27/21

December
corn is seen in a $5.10-$5.80 range

March
corn is seen in a $5.00-$6.00 range

 

Soybeans

·        
CBOT soybeans traded lower in a quiet trade and lack of direction.  The products are also lower in part to lower energy prices and risk off, but meal ended unchanged in the front months and higher in the back months on ongoing
unwinding oil oil/meal spreads.  USAD export sales were on the low side for all three commodities. 

·        
There were no USDA 24-hour announcements. 

·        
First Notice Day deliveries for soybeans will be out tonight and we think it will end up around zero.  There was only on soybean registration as of last night. 

·        
Egypt is looking to increase its price of subsidized vegetable oil to 25 Egyptian pounds ($1.60) per 1-litre bottle, in effort to cool inflation.

 

Export
Developments

·        
The USDA seeks 20 tons of vegetable oil in 4-liter cans for Dec 1-13 shipment on November 2.

 

 

 

Updated
10/18/21

Soybeans
– November $11.50-$13.00 range, March $11.50-$13.50

Soybean
meal – December $295-$335, March $300-$360

Soybean
oil – December 59-65 cent range, March 56-65

 

Wheat

·        
US wheat futures appreciated after a mixed open.  Flow through bullish sentiment for high protein wheat was noted.  It appears major importers may step up in securing wheat used for human consumption to get ahead of potential
tight global stocks. 

·        
USDA export sales were at the low end of expectations. 

·        
Argentina’s BA Grains Exchange estimated the Argentina wheat crop for 2021-22 at 19.8 MMT versus 19.2 million previously, a signal back to back droughts are in session. 

·        
The US Great Plains will turn drier Friday through the weekend after seeing rains wrap up today across the southern growing areas. 

·        
IKAR: Russia’s wheat crop 75-75.6 MMT vs. 74.5-75.5 MMT previous. 

·        
Egypt said they have enough wheat to last for 5 months. 

·        
Morocco approved to suspend their import duty on soft wheat and durum from November 1. 

 

Export
Developments. 

·        
Saudi Arabia seeks 655,000 tons of wheat on October 29. 

·        
Jordan bought 60,000 tons of barley at $333 a ton c&f for shipment in the second half of February.  

·        
Pakistan issued an import tender for 90,000 tons of wheat set to close Nov. 4 for Jan through April shipment. 

·        
Ethiopia seeks 300,000 tons of milling wheat on November 9.

·        
Ethiopia seeks 400,000 tons of wheat on November 30. 

 

Rice/Other

·        
Results awaited: Maldives seeks 25,000 tons of parboiled rice with offers due by October 28. 

 

Updated
10/26/21

December
Chicago wheat is seen in a $7.15‐$7.90 range, March $6.75-$8.00 December KC wheat is seen in a $7.10‐$7.95, March $6.82-$8.25

December
MN wheat is seen in a $9.45‐$10.50, March $9.00-$10.50. 
some are calling for $11 MN wheat

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING  10/21/21 

 

	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	145.9	1,743.8	1,553.2	43.0	3,210.3	4,365.1	0.0	0.0
SRW	7.4	572.7	384.8	73.9	1,281.4	915.3	0.0	0.0
HRS	42.3	998.2	1,566.0	44.9	2,381.7	2,995.7	0.0	0.0
WHITE	27.7	662.7	1,823.0	7.8	1,606.6	2,017.4	0.0	0.0
DURUM	45.9	72.4	200.9	15.9	77.3	338.5	0.0	0.0
TOTAL	269.3	4,049.9	5,527.8	185.6	8,557.2	10,632.1	0.0	0.0
BARLEY	0.0	22.9	31.6	0.8	7.2	10.4	0.0	0.0
CORN	890.4	24,639.7	24,453.2	688.5	5,144.9	6,125.1	0.0	337.4
SORGHUM	133.0	2,486.1	2,756.9	2.1	265.7	519.9	0.0	0.0
SOYBEANS	1,183.4	22,209.2	32,850.8	2,405.8	8,242.3	14,050.5	0.0	19.8
SOY MEAL	161.5	3,754.4	3,494.3	184.0	701.8	646.2	0.5	37.1
SOY OIL	14.6	111.7	190.3	2.4	10.9	30.9	0.0	0.1
RICE
L G RGH	2.5	240.8	518.0	47.3	285.4	153.3	0.0	0.0
M S RGH	0.0	7.0	20.7	0.3	2.2	8.2	0.0	0.0
L G BRN	0.1	8.5	12.0	0.7	16.2	9.4	0.0	0.0
M&S BR	0.1	54.3	19.8	0.1	14.3	28.8	0.0	0.0
L G MLD	20.6	86.3	86.2	11.7	216.0	109.0	0.0	0.0
M S MLD	1.9	69.0	150.6	2.4	77.9	84.9	0.0	0.0
TOTAL	25.2	466.0	807.4	62.5	611.9	393.6	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	360.8	6,453.1	5,821.8	63.4	1,916.6	2,927.9	20.0	836.3
PIMA	8.5	191.0	271.4	2.2	76.6	139.1	0.0	0.0

 

This summary is based on reports from exporters for the period October 15-21, 2021. 

Wheat:  Net sales of 269,300 metric tons (MT) for 2021/2022 were down 26 percent from the previous week and 31 percent from the prior 4-week average.  Increases primarily for Mexico (140,800 MT, including decreases of 4,900 MT),
Ecuador (24,700 MT, including 24,000 MT switched from unknown destinations and decreases of 500 MT), Honduras (22,600 MT), Singapore (22,000 MT), and South Korea (19,500 MT), were offset by reductions for Canada (500 MT) and Colombia (200 MT).  Exports of
185,600 MT were up 16 percent from the previous week, but down 52 percent from the prior 4-week average.  The destinations were primarily to Taiwan (37,100 MT), Japan (34,800 MT), Mexico (33,800 MT), Ecuador (24,700 MT), and Chile (21,900 MT).  

Export Adjustment:  Accumulated exports of hard red winter wheat to Mexico were adjusted down 101 MT for week ending September 16^th.  This shipment was reported in error.  

Corn:  Net sales of 890,400 MT for 2021/2022 were down 30 percent from the previous week and 10 percent from the prior 4-week average.  Increases primarily
for Mexico (492,900 MT, including decreases of 14,600 MT), Japan (193,600 MT, including 22,700 MT switched from unknown destinations and decreases of 8,000 MT), Colombia (100,500 MT, including 50,000 MT switched from unknown destinations and decreases of 16,000
MT), unknown destinations (44,400 MT), and Panama (19,000 MT), were offset by reductions for China (1,200 MT) and South Korea (400 MT).  Exports of 688,500 MT were down 34 percent from the previous week and 24 percent from the prior 4-week average.  The destinations
were primarily to Mexico (275,500 MT), Japan (148,800 MT), Colombia (144,100 MT), China (66,800 MT), and Costa Rica (38,000 MT). 

Optional Origin Sales:  For 2021/2022, new optional origin sales of 139,500 MT were reported for unknown destinations (120,000 MT), Italy (10,500 MT), and Saudi Arabia (9,000 MT).  The current outstanding balance of 479,300 MT is
for unknown destinations (370,000 MT), South Korea (65,000 MT), Italy (35,300 MT), and Saudi Arabia (9,000 MT). 

Barley:  No net sales were reported for the week.  Exports of 800 MT were up 14 percent from the previous week and 93 percent from the prior 4-week average.  The destination was to Japan.  

Sorghum:  Total net sales of 133,000 MT for 2021/2022 were down 49 percent from the previous week, but up 54 percent from the prior 4-week average.  The destination reported was unknown destinations.  Exports of 2,100 MT were down
95 percent from the previous week and 97 percent from the prior 4-week average.  The destination was to Mexico.  

Rice:  Net sales of 25,200 MT for 2021/2022–a marketing-year low–were down 69 percent from the previous week and 62 percent from the prior 4-week average.  Increases were primarily for Haiti (15,300 MT, including decreases of 100
MT), Mexico (4,100 MT), Canada (3,200 MT), Saudi Arabia (1,500 MT), and Guatemala (300 MT).  Exports of 62,500 MT were down 8 percent from the previous week, but up 25 percent from the prior 4-week average.  The destinations were primarily to Mexico (38,300
MT), Costa Rica (10,200 MT), Haiti (7,200 MT), Canada (3,700 MT), and Saudi Arabia (1,900 MT).   

Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance is 100 MT, all Canada.  

Soybeans:  Net sales of 1,183,400 MT for 2021/2022 were down 59 percent from the previous week and 22 percent the prior 4-week average.  Increases primarily for China (1,081,000 MT, including 449,000 MT switched from unknown destinations,
66,000 MT switched from Hong Kong, and decreases of 25,300 MT), the Netherlands (117,800 MT, including 120,000 MT switched from unknown destinations and decreases of 2,200 MT), Mexico (93,900 MT, including decreases of 5,800 MT), Taiwan (71,600 MT), and Pakistan
(69,000 MT, including 66,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (469,300 MT).  Exports of 2,405,800 MT were up 9 percent from the previous week and 81 percent from the prior 4-week average.  The
destinations were primarily to China (1,790,600 MT), Mexico (187,600 MT), the Netherlands (113,400 MT), Japan (78,500 MT), and Pakistan (69,000 MT). 

Export for Own Account: For 2021/2022, new exports for own account totaling 30,800 MT were for Canada.  The current exports for own account outstanding balance is 36,600 MT, all Canada. 

Soybean Cake and Meal:  Net sales of 161,500 MT for 2021/2022 primarily for the Philippines (134,000 MT, including 45,000 MT switched from France and 45,000 MT switched from Spain), Canada (70,400 MT, including decreases of 400 MT),
Thailand (50,000 MT switched from unknown destinations), Japan (34,200 MT), and Morocco (21,200 MT, including decreases of 800 MT), were offset by reductions primarily for unknown destinations (59,300 MT), Spain (45,000 MT), Germany (45,000 MT), and France
(45,000 MT).  Total net sales of 500 MT for 2022/2023 were for Canada.  Exports of 184,000 MT were primarily to Colombia (39,900 MT), the Dominican Republic (28,100 MT), Japan (21,300 MT), Mexico (20,700 MT), and Costa Rica (18,200
MT).   

Soybean Oil:  Net sales of 14,600 MT for 2021/2022 were reported for South Korea (9,000 MT), the Dominican Republic (2,800 MT), Canada (1,900 MT), and Mexico (900 MT).  Exports of 2,400 MT were to Mexico (1,600 MT), Canada (600 MT),
and Honduras (200 MT). 

Cotton:  Net sales of 360,800 RB for 2021/2022 were down 8 percent from the previous week, but up 6 percent from the prior 4-week average.  Increases primarily for China (186,700 RB, including 4,400 RB switched from Vietnam and decreases
of 5,300 RB), Turkey (149,200 RB), India (5,700 RB), South Korea (4,300 RB), and Mexico (3,900 RB), were offset by reductions for Ecuador (200 RB).  Total net sales of 20,000 RB for 2022/2023 were for China.  Exports of 63,400 RB–a marketing-year low–were
down 46 percent from the previous week and 49 percent from the prior 4-week average.  The destinations were primarily to Pakistan (12,600 RB), Vietnam (11,200 RB), Turkey (8,800 RB), China (8,500 RB), and Mexico (7,800 RB).  Net sales of Pima totaling 8,500
RB were down 65 percent from the previous week and 45 percent from the prior 4-week average.  Increases primarily for India (4,800 RB), Peru (1,900 RB), China (900 RB), Thailand (500 RB), and Japan (300 RB), were offset by reductions for Colombia (100 RB).  Exports
of 2,200 RB–a marketing-year low–were down 60 percent from the previous week and 72 percent from the prior 4-week average.  The destination was to India.  

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 4,800 RB is for China (4,700 RB) and Vietnam (100 RB). 

Hides and Skins:  Net sales of 566,000 pieces for 2021 were up 36 percent from the previous week and 48 percent from the prior 4-week average.  Increases
primarily for China (396,000 whole cattle hides, including decreases of 4,000 pieces), South Korea (58,100 whole cattle hides, including decreases of 700 pieces), Thailand (30,400 whole cattle hides, including decreases of 800 pieces), Mexico (27,600 whole
cattle hides, including decreases of 200 pieces), and Brazil (22,000 whole cattle hides), were offset by reductions for Indonesia (800 pieces).  Total net sales of 8,400 calf skins were reported for Italy.  In addition, total net sales reductions of 100 kip
skins were for Belgium Exports of 405,000 pieces were down 14 percent from the previous week, but up 6 percent from the prior 4-week average.  Whole cattle hide exports were primarily to China (268,600 pieces), South Korea (35,900 pieces), Mexico (26,600 pieces),
Taiwan (18,200 pieces), and Brazil (17,800 pieces).  In addition, exports of 2,700 kip skins were to Belgium.   

Net sales of 212,900 wet blues for 2021 were up 42 percent from the previous week and 70 percent from the prior 4-week average.  Increases primarily for Vietnam (107,800 unsplit, including decreases of
300 unsplit), China (56,500 unsplit, including decreases of 100 unsplit), Italy (11,400 grain splits and 7,700 unsplit, including decreases of 200 grain splits and 300 unsplit), Thailand (12,000 unsplit), and Taiwan (11,200 unsplit), were offset by reductions
for Mexico (100 grain splits).  Net sales reductions of 2,400 wet blues for 2022 resulting in increases for Vietnam (800 unsplit), were more than offset by reductions for Italy (3,200 unsplit).  Exports of 125,000 wet blues were down 45 percent from the previous
week and 19 percent from the prior 4-week average.  The destinations were primarily to Vietnam (37,900 unsplit), China (35,200 unsplit), Italy (30,000 unsplit and 5,100 grain splits), Mexico (5,200 grain splits and 900 unsplit), and Thailand (6,000 unsplit).  Net
sales of 565,600 splits were for China (360,600 splits) and Vietnam (205,000 splits).  Exports of 495,700 pounds were to China (295,700 pounds) and Vietnam (200,000 pounds). 

Beef:  Net sales of 19,200 MT reported for 2021 were up noticeably from the
previous week and up 39 percent from the prior 4-week average.  Increases were primarily for South Korea (6,200 MT, including decreases of 500 MT), China (4,500 MT, including decreases of 200 MT), Japan (2,800 MT, including decreases of 600 MT), Mexico (2,100
MT, including decreases of 100 MT), and Taiwan (1,700 MT, including decreases of 100 MT).  Net sales of 5,000 MT for 2022 were primarily for South Korea (4,100 MT), Indonesia (500 MT), and Japan (200 MT).  Exports of 16,700 MT were down 2 percent from the
previous week, but unchanged from the prior 4-week average.  The destinations were primarily to South Korea (4,700 MT), Japan (4,000 MT), China (3,500 MT), Mexico (1,200 MT), and Taiwan (1,000 MT).   

Pork:  Net sales of 29,500 MT reported for 2021 were up 41 percent from the previous week, but down 1 percent from the prior 4-week average.  Increases primarily for Mexico (16,900 MT, including
decreases of 600 MT), Japan (3,300 MT, including decreases of 100 MT), Canada (2,800 MT, including decreases of 500 MT), South Korea (2,600 MT, including decreases of 900 MT), and Colombia (2,300 MT, including decreases of 100 MT), were offset by reductions
primarily for China (1,400 MT).  Exports of 32,800 MT were unchanged from the previous week, but up 8 percent from the prior 4-week average.  The destinations were primarily to Mexico (16,400 MT), Japan (4,400 MT), China (3,500 MT), Colombia (2,100 MT), and
Canada (1,700 MT).  

Export Adjustment:  Accumulated exports of pork to Chile were adjusted down 7 MT for week ending October 14^th.  This shipment was reported
in error.   

October 28, 2021                                1             FOREIGN AGRICULTURAL SERVICE/USDA

                       SUMMARY OF EXPORT TRANSACTIONS                       
Reported Under the Daily Reporting System
For Period Ending October 21, 2021

                  Commodity                              Destination                             Quantity (MT)           Marketing   

                

                  CORN                                      MEXICO                                130,000 MT 1/           2021/2022

                 

                 1/ Export Sales.