FI Evening Grain Comments 12/15/22

PDF Attached

 

USDA:
Private exporters reported sales of 101,600 metric tons of corn for delivery to Mexico.  

US
dollar was very strong today, WTI crude lower at the time CBOT ags closed, and US equities were down sharply.  Gold was lower. Most of the soybean complex closed lower and grains rallied led by wheat. NOPA reported a lower-than-expected November US soybean
crush and soybean oil stocks were above a trade guess. There was some disappointing economic news out of China.
https://www.bloomberg.com/news/articles/2022-12-15/china-s-economic-activity-weakened-in-november-amid-covid-surge
USDA export sales this week improved for soybeans, corn and wheat. US export sales to China for corn remain low while soybeans improved.

 

Weather

The
second week of the outlook improves for Argentina. Brazil will see rain in the northern and central crop areas although the far south could see crop stress from net drying. The longer-term forecasts for northern Argentina/southern Brazil, are dry for the month
of January. The US saw a large boost in snow coverage/soil moisture replenishment after a large storm swept across the Great Plains. Temps will turn colder for the US over the next two weeks.

 

 

 

World
Weather, INC.

MOST
IMPORTANT WEATHER FOR THE DAY

• Very
  little change around the world today
• Bitter
  cold is still expected to build up in western Canada over the next few days before surging southeast into the central United States next week and eventually into the eastern U.S. in the following weekend and on into the week of Dec. 26
• U.S.
  wheat areas from the central and southern Plains into the Midwest will need snow cover to protect crops from the eventual cold
• Some
  forecast models are suggesting snow will be prevalent before the cold arrives, but the situation still merits a close watch
• Freezes
  could impact sugarcane in Louisiana during the Christmas Holiday and/or into the week of Dec. 26
• It
  is too soon to get specific about temperatures, but producers will need to work hard to get harvesting done before the cold arrives
• Frost
  and freezes may eventually threaten Florida citrus areas, although this event is at least ten days away.
  
• Strong
  supplemental heating fuel demand is expected across North America beginning in the west this weekend and being most significant in the Plains and western Midwest next week before impacting the eastern parts of the continent during the
  
• There
  is still plenty of time for changes in this airmass and the details over how significant the cold may or may not be
• Argentina
  received some welcome overnight, although most of it was too light to seriously change soil moisture or crop conditions
• Net
  drying is expected in Argentina over the next full week with the only exception being in the far northwest where there will be some rain of significance in sugarcane, dry bean and citrus production areas
• Argentina
  temperatures will be heating back up again during the weekend and be warmest next week with highs rising back into the 90s and over 100 degrees Fahrenheit frequently
• Argentina’s
  heat and dryness will combine to return stress to those areas that received significant rain last weekend. Other areas will continue to experience stress with it festering long enough to raise more concern over the fate of recently planted and emerged crops
  as well as the production potential for well-established crops. Significant rain must begin falling soon to prevent a more dramatic fall in this year’s production potential.
  
• Brazil’s
  far south and southern Paraguay will experience net drying conditions over the next ten days to two weeks resulting in rising crop moisture stress
• Totally
  dry weather is not likely, but most of the rain that does evolve will not counter evaporation very well and that will lead to net drying
• Rio
  Grande do Sul will experience crop moisture stress first with western and southern parts of the state already trending too dry
• Parana
  and Paraguay will be drying down, but there is some potential for timely rainfall in a few areas to slow the drying trend
• Most
  other areas in Brazil are still doing well with rainfall and temperatures have been seasonable to slightly milder than usual and that is translating into very good production potentials
• Temperatures
  Wednesday were unusually cool in east-central parts of the nation with highs in the upper 60s and 70s Fahrenheit down from normal which should be 80s and lower 90s
• Brazil’s
  bottom line remains mostly very good with the bulk of production from the nation on track for above average yields, despite below normal precipitation during the first half of the growing season in center west and far southern Brazil. The largest area of concern
  will remain in Rio Grande do Sul where rising crop stress is possible as time moves along this month. Timely rainfall in the latter part of this month and in early January will prove to be very important in protecting production potentials in Rio Grande do
  Sul and other areas in western and interior southern Brazil.
• South
  Africa rainfall is expected to be frequent and sufficient enough to support summer crops in a positive manner through the weekend with drier weather likely in the following week
• The
  weather mix will leave summer crops in mostly very good condition with high production potentials
• Australia
  weather is expected to remain mostly good for winter wheat, barley and canola harvesting in the south and summer crop development in Queensland and northeastern New South Wales over the next ten days
• Restricted
  rainfall is expected in harvest areas and there should eventually be enough rain in cotton, sorghum and other summer crop areas in east-central parts of the nation to support a good outlook for development
• China
  weather has become rather quiet with little adversity impacting crop areas. Temperatures are cool and winter crops are either dormant or semi-dormant and unlikely to experience much development for a while
• Soil
  moisture is rated favorably and little change is expected
• Winter
  crops are at no risk of crop damaging cold in the next ten days
• Southeast
  Asia rainfall will continue most frequent and abundant in the Philippines, Indonesia and Malaysia during the next ten days to two weeks
• Crop
  development should advance well, despite a few areas of heavy rain
• India’s
  weather is mostly good, although parts of the far south are a little too wet
• Drier
  weather is expected in the south for a while and that should translate into improving crop and field working conditions
• Cold
  weather in Europe will continue into the weekend and then begin to abate next week
  
• Northwestern
  Europe will trend a little wetter for a while next week with waves of rain and windy conditions possible as temperatures trend warmer
• Southern,
  central and eastern Europe and western Russia will experience frequent bouts of snow and rain through the weekend
• Snow
  cover has improved across eastern parts of the continent protecting some crops, although there has been no threatening cold in recent weeks and none is expected
• Portions
  of western Russia and immediate neighboring areas will experience the greatest snowfall that will cause travel delays and livestock stress
• Some
  significant snow and some rain has been falling in Ukraine and southwestern Russia recently and that may be contributing to spring flood potentials since the ground was saturated prior to winter crop dormancy
• Travel
  disruptions and stress to livestock resulted
• Additional
  snowfall of 3 to 8 inches and local totals over 10 inches are likely
• No
  bitter cold is expected in western Russia or Ukraine during the next ten days, but it will be cool and stormy enough to raise concern over those without electrical power
  
• Crop
  conditions will be fine
• Northern
  Europe precipitation this week will be restricted while that in the south is heavy and could result in some local flooding
• Western
  Spain, Portugal, western Italy and the eastern Adriatic Sea countries will be wettest while the Baltic Plains, northeastern France and Low Countries will be driest
• Significant
  snowfall has occurred in the past 48 hours in the northern U.S. Plains and a part of the upper Midwest
• Snowfall
  of 8 to 18 inches occurred from western Nebraska to North Dakota and the central and western parts of South Dakota as well as from northern Minnesota into northern and central Wisconsin
• Local
  totals reached 18-24 inches in south-central and southwestern South Dakota while southeastern North Dakota received up to 16 inches
• Central
  and northern Minnesota and western Wisconsin reported upwards to 12 inches
  
• Snow
  is on the ground throughout the northern U.S. Plains, Canada’s Prairies and the upper U.S. Midwest
• U.S.
  rain the past two days has been greatest from the northern Delta and Tennessee River Basin through Kentucky, Illinois, Indiana and eastern Missouri to eastern Minnesota, Wisconsin and western Michigan.
  
• Moisture
  totals of 0.50 to 1.50 inches was common with 2.00 to 4.00 inches in a part of Mississippi and immediate surrounding areas
• Central
  and eastern U.S. precipitation will be limited at times during the next ten days
• A
  northern Atlantic Coast storm today into Saturday will produce significant snow across the region from northern Virginia through Pennsylvania to New England
  
• Accumulations
  of 6 to 15 inches will be possible
• Rain
  will fall along the upper Atlantic Coast
• Eastern
  portions of Canada’s Prairies received snow overnight and will continue to be impacted for a while today and early Friday
• Much
  colder weather is expected to resume throughout the Prairies this week with western areas coldest this weekend into next week and eastern areas coldest next week through the Christmas Holiday weekend
• Ontario
  and Quebec will receive additional waves of snow and some rain over the coming week that will maintain moisture abundance in the region
• North
  Africa will receive additional precipitation into the weekend with a few other opportunities for rain in the following week
  
• The
  moisture has been and will continue be good for improving wheat and barley emergence and establishment with some increase in planting possible
• Greater
  rain will still be needed in parts of Morocco and northwestern Algeria which have been driest recently
• Mexico’s
  rain is expected to be very erratic and light over the next two weeks which is not unusual for this time of year
• Any
  precipitation that falls will be good for winter rice and citrus, but may disrupt some late season harvest activity
• Most
  of the precipitation will be light and have little to no impact of significance
• Central
  America precipitation is expected to continue periodically during the next ten days, but no large region of excessive rain is expected this week
• Panama,
  Costa Rica and portions of southern and eastern Nicaragua will be wettest with rain totals rising above normal
• Nicaragua
  and Honduras will experience lighter than usual precipitation
• West-central
  Africa rainfall should be mostly confined to coastal areas during the next two weeks
• Net
  drying is likely in most coffee, cocoa, rice, sugarcane and cotton production areas away from the coast which is normal for this time of year
  
• East-central
  Africa rainfall will be sufficient to support coffee and cocoa as well as a few other crops
• Rain
  will fall abundantly in Tanzania, southern Kenya and Uganda while it is more sporadic and light in Ethiopia
• Monday’s
  Southern Oscillation Index was +8.67 and it will move lower over the next few days
  

Source:
World Weather INC

 

Bloomberg
Ag Calendar

Thursday,
Dec. 15:

• USDA
  weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
• Port
  of Rouen data on French grain exports
• Malaysia’s
  Dec. 1-15 palm oil exports

Friday,
Dec. 16:

• ICE
  Futures Europe weekly commitments of traders report
• CFTC
  commitments of traders weekly report on positions for various US futures and options

Saturday,
Dec. 17:

• No
  major event scheduled

Sunday,
Dec. 18:

• China’s
  second batch of November trade data, including corn, pork and wheat imports

Source:
Bloomberg and FI

 

USDA
export sales
were very good for soybeans (mostly China), corn and wheat. Text below. USDA may leave their US export estimate unchanged in their January S&D update and lower soybean oil and corn exports for the current crop year.  US corn exports have been slow so far this
month. The 958,900 tons reported for corn for the first week of December was somewhat a surprise with a bulk sold to central American countries.

 

 

 

 

EPA
US RIN generation

2022

U.S.
GENERATED 1.27 BLN ETHANOL (D6) BLENDING CREDITS IN NOVEMBER, VS 1.24 BLN IN OCTOBER

U.S.
GENERATED 582 MLN BIODIESEL (D4) BLENDING CREDITS IN NOVEMBER, VS 477 MLN IN OCTOBER

 

Versus
2021

U.S.
GENERATED 1.26 BLN ETHANOL (D6) BLENDING CREDITS IN NOVEMBER, VS 1.2 BLN IN OCTOBER

U.S.
GENERATED 464 MLN BIODIESEL (D4) BLENDING CREDITS IN NOVEMBER, VS 431 MLN IN OCTOBER

 

The
following is a table of the credit generation for the month of November by credit type. (Reuters table)

Fuel
(D Code)     RINs       Volume (Gal.)                                   

D3          
59,119,400           59,119,400                                          

D4          
581,594,358        363,630,202                                       

D5          
36,574,875           27,359,968                                          

D6          
1,265,384,379     1,258,490,506                                    

 

Macros

98
Counterparties Take $2.124 Tln At Fed Reverse Repo Op (prev $2.193 Tln, 97 Bids)

US
Industrial Production (M/M) Nov: -0.2% (est 0.0%; prev -0.1%)

–
Capacity Utilization (M/M): 79.7% (est 79.8%; prev 79.9%)

–
Manufacturing (SIC) Production (M/M): -0.6% (est -0.2%; prev 0.1%)

US
Retail Sales Advance (M/M) Nov: -0.6% (est -0.2%; prev 1.3%)

–
Retail Sales Ex-Auto (M/M): -0.2% (est 0.2%; prev R 1.2%)

–
Retail Sales Ex-Auto & Gas (M/M): -0.2% (est 0.0%; prev R 0.8%)

–
Retail Sales Control Group (M/M): -0.2% (est 0.1%; prev R 0.5%)

US
Initial Jobless Claims (W/W) 10-Dec: 211K (est 232K; prev 230K)

–
Continuing Claims (W/W) 03-Dec: 1.671M (est 1.674M; prev 1.671M)

US
Philly Fed Business Outlook Dec: -13.8 (est -10.0; prev -19.4)

US
Empire Manufacturing Dec: -11.2 (est -1.0; prev 4.5)

Canadian
Housing Starts Nov: 264.2K (est 259.0K; prev 264.6K)

BoE
Raises Bank Rate By 50Bps To 3.5%, As Expected

 – 
Voted  6-3 To Raise Bank Rate To 3.5%

ECB
Raises Refinancing Rate, Marginal Lending Rate, Deposit Facility Rate By 50Bps As Expected

–
Refinancing Rate: 2.5% Vs 2.0%

–
Marginal Lending Rate: 2.75% Vs 2.25%

–
Deposit Facility Rate: 2.0% Vs 1.5%

EIA
Natural Gas Storage Change: -50 (est -51, prev -21)

Salt
Dome Cavern Change: +10 (prev +13)

US
Mortgage Rates Slip For Fifth Straight Week To 6.31%

 

Corn

·        
Corn futures traded
higher following wheat. USDA reported better than expected export sales and under the 24-hour announcement system, private exporters sold 101,600 tons of corn to Mexico.

·        
Five South American countries reported bird flu outbreaks, causing Brazil to be “on alert”. They are taking some additional measures to prevent outbreaks.

·        
The Baltic Dry Index increased 9.1% to 1,528 points. 

 

Export
developments.

·        
Private exporters reported sales of 101,600 tons of corn for delivery to Mexico

 

 

 

Updated
12/6/22

March
corn $6.00-$7.15 range. May
$5.80-$7.10

 

Soybeans

·        
CBOT soybeans traded two sided, ending lower from a higher USD and lower meal markets. Unfavorable China economic data initially pressured soybeans. Soybean oil traded two-side, ending mixed from bull spreading. Weaker US energy
prices limited gains for SBO.

·        
NOPA’s November US soybean crush came in below expectations and soybean oil stocks were slightly above an average trade guess.
SBO
oil stocks were inflated even as the November yield was reported at a lower-than-expected figure. Implied food and export demand was likely less than expected as EPA RIN generation was good. During the month of November, Gulf oil basis barely moved (lack of
export interest during November).  And it’s possible some food users may have backed off taking/ordering shipments with the potential rail strike.  Weekly SBO exports, slow during the month of November, can be found at the bottom of this page
https://apps.fas.usda.gov/export-sales/h902.htm

·        
Note October
D4 RINs generated were 582 million, up from 477 in October and compares to 431 million November 2021.

·        
The lower-than-expected NOPA soybean oil yield and crush rate, and good RIN generation reported by EPA, may have attracted some longs in afternoon trading.

·        
US export sales to China for corn remain low while soybeans improved. We look for US soybean sales to China to slow by the end of the year.

·        
Bunge announced plans to build a new crush plant in Morristown, IN, with a capacity of 4.5 million bushels of soybeans, catering to plant-based foods, processed meat, pet food and feed products. They have a mid-2025 target for
it to up and running.

·        
SGS reported December 1-15 Malaysian palm oil exports at 634,618 tons, down 4.3% from 662,816 tons from the same period during November. AmSpec reported a 4 percent decrease to 631,401 tons from 657,896 tons previous month.

·        
Indonesia exported 3.65 million tons of palm oil products in October, up from 3.21 million tons last year, according to GAPKI. Crude palm oil and kernel oil was 5 million in October and Indonesia’s palm oil stocks at 3.38 million
tons, down from 4.03 million tons at end-September.

 

NOPA
reported the November crush at 179.2 million bushels, 2.3 million below an average trade guess, below 184.5 million crushed in October and 179.5 million November 2021. The reported was seen a little bearish for soybean futures, and soybean oil. On a daily
adjusted basis, crushing rates increased slightly from October (0.4%) and was down a touch from November 2021 (-0.2%). The 179.2 million bushels crushed was the third lowest for the month of November. The soybean oil yield was much lower than expected at 11.63
pounds per bushel but end of November stocks came in 11 million pounds above an average trade guess. The yield compares to 11.76 pounds per bushel reported November 2021. At 1.630 billion pounds, stocks are down from 1.832 billion year ago.  Implied soybean
oil demand last month was lower than expected. The meal yield increased to 47.05 from 46.67 previous month.

 

 

 

 

Export
Developments

·        
None reported

 

Updated
12/13/22

Soybeans
– January $14.00-$15.15, March $14.15-$15.25

Soybean
meal – January $425-$480, March $4.00-$500

Soybean
oil – January 61.00-68.50 range,
March 55.00-70.00

 

Wheat

·        
US wheat futures were higher on Argentina crop concerns, improving global import demand and light technical buying. Meanwhile, March Paris wheat fell to a nine-month low.

·        
The Rosario Grains Exchange sees the Argentina wheat harvest at around 11.5 million tons, down from a previous estimate of 11.8 million tons and 22 million tons last season.

·        
Global import developments have picked up with Algeria buying 500,000 tons of wheat yesterday and Tunisia picking up durum wheat. Japan bought wheat.

·        
Paris March wheat was down 3.00 euros at 299.00 euros a ton,
lowest close for that contract since March 2022.

·        
Russia exported 22 million tons of grain over the last five months and may export an additional 4-5 million tons by the end of the July-June crop year.

 

 

Export
Developments.

·        
Tunisia bought 125,000 tons of durum wheat for Jan 10 and Feb 25 shipment. Prices were between $504.50 and $514.29 per ton.

·        
Yesterday Algeria bought about 500,000 tons of wheat for February shipment at around $348-$349 per ton c&f.

·        
Iraq seeks 50,000 tons of milling wheat on Sunda, December 18.

·        
Japan bought 154,942 tons of wheat. Original details below:

 

Rice/Other

·        
Bangladesh seeks 50,000 tons of rice on December 21 for shipment with 40 days of contract signing.

·        
Bangladesh also seeks 50,000 tons of rice on December 27.

 

Updated
12/6/22

Chicago
– March $7.00 to $8.50

KC
– March 7.75-$9.75

MN
– March $8.25 to $10.00

 

 

Export Sales Highlights

This
summary is based on reports from exporters for the period December 2-8, 2022.  

Wheat:
Net sales of 469,000 metric tons (MT) for 2022/2023 primarily for unknown destinations (164,000 MT), South Korea (89,400 MT), Japan (64,200 MT, including decreases of 1,000 MT), Mexico (55,100 MT, including decreases of 300 MT), and Taiwan (42,800 MT), were
offset by reductions primarily for China (65,000 MT).  Exports of 255,900 MT were primarily to Japan (62,500 MT), Mexico (62,400 MT), South Korea (58,900 MT), Nigeria (33,000 MT), and Guatemala (24,000 MT). 

Corn: 
Net sales of 958,900 MT for 2022/2023 were primarily for Guatemala (196,400 MT, including 14,700 MT switched from El Salvador), Mexico (170,800 MT, including decreases of 30,800 MT), unknown destinations (137,000 MT), Japan (79,100 MT, including decreases
of 900 MT), and El Salvador (78,800 MT).  Exports of 590,500 MT were primarily to China (207,700 MT, including 77,000 MT – late), Mexico (155,500 MT), Honduras (98,100 MT), Japan (60,300 MT), and Costa Rica (35,600 MT). 

Late
Reporting:
For 2022/2023, exports totaling 77,000 MT of corn were reported late for China.

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

Sorghum: 
No net sales were reported for the week.  Exports of 1,200 MT were to Mexico.

Rice:
 Net
sales of 5,700 MT for 2022/2023 primarily for Guatemala (12,500 MT), Haiti (7,100 MT, including decreases of 100 MT), Honduras (3,000 MT), Canada (2,000 MT, including decreases of 800 MT), and Saudi Arabia (700 MT), were offset by reductions for Jordan (21,000
MT).  Exports of 15,300 MT were primarily to Haiti (7,100 MT), Mexico (3,500 MT), Canada (2,700 MT), Saudi Arabia (1,000 MT), and Belgium (300 MT).

Soybeans: 
Net sales of 2,943,400 MT for 2022/2023 were primarily for China (1,252,600 MT, including 197,000 switched from unknown destinations and decreases of 184,200 MT), unknown destinations (1,031,500 MT), Mexico (131,300 MT, including decreases of 10,700 MT), Japan
(123,300 MT, including 30,000 MT switched from China, 8,000 MT switched from unknown destinations, and decreases of 1,400 MT), and South Korea (118,600 MT, including 117,000 MT switched from unknown destinations and decreases of 5,100 MT).  Exports of 1,846,000
MT were primarily to China (1,058,900 MT), Mexico (140,000 MT), South Korea (119,200 MT), Bangladesh (117,500 MT), and Japan (93,600 MT).

Optional
Origin Sales:
For 2022/2023, the current outstanding balance of 300 MT, all South Korea.

Export
for Own Account:
For 2022/2023, new exports for own account totaling 50,400 MT were to Canada.  Decreases were reported for Canada (55,200 MT).  The current exports for own account outstanding balance is 1,500 MT, all Canada.

Soybean
Cake and Meal: 
Net sales of 209,600 MT for 2022/2023 primarily for Chile (45,000 MT), Saudi Arabia (45,000 MT switched from Poland), Vietnam (45,000 MT), Guatemala (31,700 MT), and Mexico (21,300 MT), were offset by reductions primarily for Poland (45,000 MT).  Exports of
174,000 MT were primarily to Morocco (32,000 MT), Canada (25,600 MT),  the Dominican Republic (23,800 MT), Mexico (23,700 MT), and Ireland (19,800 MT).

Soybean
Oil: 
Total net sales reductions of 200 MT for 2022/2023 were for Canada.  Exports of 400 MT were to Canada.

Cotton: 
Net
sales of 18,600 RB for 2022/2023 primarily for South Korea (17,900 RB, including decreases of 100 RB), China (10,900 RB, including 6,600 RB switched from Vietnam), Mexico (4,600 RB, including 4,400 RB switched from Vietnam), Thailand (3,500 RB, including decreases
of 7,900 RB), and Pakistan (3,000 RB, including decreases of 8,800 RB), were offset by reductions primarily for Turkey (14,200 RB) and Vietnam (11,000 RB).  Net sales of 28,200 RB for 2023/2024 were reported for Turkey (23,800 RB) and Pakistan (4,400 RB). 
Exports of 141,900 RB were primarily to China (60,000 RB), Pakistan (25,400 RB), Mexico (22,700 RB), Turkey (5,200 RB), and Indonesia (4,500 RB).  Net sales of Pima totaling 1,300 RB primarily for Bangladesh (700 RB), China (500 RB), Taiwan (400 RB), and Vietnam
(400 RB), were offset by reductions for Peru (900 RB).  Exports of 3,800 RB were primarily to India (3,100 RB), Vietnam (400 RB), China (100 RB), Bangladesh (100 RB), and Japan (100 RB). 

Optional
Origin Sales:
For 2022/2023, the current outstanding balance of 9,300 RB, all Malaysia.

Export
for Own Account:
For 2022/2023, new exports for own account totaling 7,100 RB were to China.  Exports for own account totaling 2,700 RB to Pakistan (1,800 RB) and China (900 RB) were applied to new or outstanding sales.  The current exports for own account outstanding balance
of 118,000 RB are for China (77,300 RB), Vietnam (23,900 RB), Pakistan (14,900 RB), India (1,500 RB), and Indonesia (400 RB). 

Export
Adjustment: 
Accumulated exports of Pima cotton to Thailand were adjusted down 870 RB for week ending November 17^th.  This shipment was reported in error.

Hides
and Skins: 
Net sales of 402,700 pieces for 2022 primarily for China (275,900 whole cattle hides, including decreases of 19,900 pieces), Mexico (82,700 whole cattle hides, including decreases of 1,500 pieces), Brazil (21,900 whole cattle hides, including decreases of
4,900 pieces), South Korea (21,200 whole cattle hides, including decreases of 1,400 pieces), and Taiwan (3,600 whole cattle hides switched from China), were offset by reductions primarily for Thailand (2,100 pieces).  Net sales reductions of 5,000 calf skins
resulting in increases for China (2,100 calf skins), were more than offset by reductions for Italy (7,200 calf skins).  In addition, total net sales reductions of 300-kip skins were for China.  Net sales of 89,200 pieces for 2023 were primarily for China (54,300
whole cattle hides), Brazil (14,900 whole cattle hides), and Mexico (11,000 whole cattle hides).  Total net sales of 14,300 calf skins were for Italy.  In addition, total net sales of 11,500-kip skins were for China.  Exports of 441,200 whole cattle hides
exports were primarily to China (287,900 pieces), South Korea (50,400 pieces), Mexico (33,200 pieces), Thailand (27,800 pieces), and Brazil (22,900 pieces).  Exports of 4,600 calf skins were to Italy.  In addition, exports of 2,600-kip skins were to China.

Net
sales reductions of 21,800 wet blues for 2022 resulting in increases primarily for Vietnam (5,800 unsplit, including decreases of 8,600 unsplit), Italy (3,200 grain splits), and Bangladesh (800 unsplit), were offset by reductions primarily for China (9,600
unsplit), Italy (8,400 unsplit), Thailand (6,000 unsplit), India (4,200 grain splits), and Taiwan (2,000 unsplit).  Net sales of 139,200 wet blues for 2023 were primarily for Italy (83,900 unsplit), Vietnam (20,600 unsplit) China (12,900 unsplit), Hong Kong
(8,000 unsplit), and Thailand (6,000 unsplit).  Exports of 118,600 wet blues were primarily to Italy (51,700 unsplit), Vietnam (25,600 unsplit), China (18,500 unsplit), Thailand (7,200 unsplit), and Mexico (4,600 unsplit).  Net sales reductions of 28,300 splits
resulting in increases for China (44,000 pounds), were
more than offset by reductions for Vietnam (72,300 pounds). 
Total net sales of 83,700 splits for 2023 were for Vietnam.  Exports of 122,600 splits were to Vietnam.

Beef: 
Net sales of 10,900 MT for 2022 primarily for South Korea (4,100 MT, including decreases of 500 MT), Japan (3,700 MT, including decreases of 300 MT), Mexico (1,600 MT, including decreases of 100 MT), Taiwan (800 MT, including decreases of 100 MT), and Canada
(700 MT, including decreases of 100 MT), were offset by reductions for China (1,000 MT).  Net sales of 2,900 MT for 2023 primarily for Japan (1,100 MT) and Mexico (1,100 MT), were offset by reductions for China (100 MT) and Hong
Kong (100 MT).  Exports of 16,500 MT were primarily to South Korea (4,900 MT), Japan (4,700 MT), Mexico (1,700 MT), Taiwan (1,400 MT), and China (1,300 MT). 

Pork: 
Net sales of 14,400 MT for 2022 primarily for Mexico (9,600 MT, including decreases of 500 MT), China (2,500 MT, including decreases of 200 MT), Japan (1,600 MT, including decreases of 200 MT), Honduras (500 MT), and Canada (400 MT, including decreases for
400 MT), were offset by reductions primarily for Colombia (400 MT) and South Korea (300 MT). 
Net sales of 7,700 MT for 2023 primarily for South Korea (4,400 MT), Japan (2,100 MT), the Dominican Republic (600 MT), Colombia (300 MT), and Mexico (300 MT), were offset by reductions for China (200 MT). 
Exports of 34,200 MT were primarily to Mexico (17,400 MT), China (4,700 MT), Japan (3,200 MT), South Korea (3,000 MT), and Canada (1,700 MT).

U.S. EXPORT SALES FOR WEEK ENDING  12/8/2022

 

	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	145.3	889.6	2,194.9	124.3	2,970.5	3,901.2	0.0	6.3
SRW	50.8	593.5	685.7	7.9	1,697.9	1,536.5	0.0	13.6
HRS	143.3	1,371.1	1,183.5	74.6	2,927.7	2,849.8	0.0	10.8
WHITE	129.6	1,156.4	797.4	49.1	2,282.9	1,927.7	0.0	0.3
DURUM	0.0	91.7	35.9	0.0	129.1	97.2	0.0	0.0
TOTAL	469.0	4,102.2	4,897.3	255.9	10,008.1	10,312.3	0.0	31.0
BARLEY	0.0	6.1	20.6	0.0	5.5	9.9	0.0	0.0
CORN	958.9	12,739.0	26,866.6	590.5	7,263.9	11,644.9	0.0	969.0
SORGHUM	0.0	185.2	3,631.0	1.2	175.3	1,049.2	0.0	0.0
SOYBEANS	2,943.4	18,798.2	14,691.0	1,846.0	23,019.1	25,357.6	0.0	40.0
SOY MEAL	209.6	3,615.4	3,379.9	174.0	1,929.5	2,345.6	0.0	18.3
SOY OIL	-0.2	18.1	185.3	0.4	12.3	133.7	0.0	0.6
RICE
L G RGH	15.5	157.4	149.3	0.4	135.6	577.0	0.0	0.0
M S RGH	0.0	12.9	6.3	1.8	12.0	2.9	0.0	0.0
L G BRN	1.4	7.5	4.4	0.2	6.9	25.9	0.0	0.0
M&S BR	0.1	9.5	68.6	0.4	5.1	14.9	0.0	0.0
L G MLD	-13.5	99.2	59.1	10.1	216.4	325.0	0.0	0.0
M S MLD	2.2	94.1	80.0	2.3	93.5	127.8	0.0	0.0
TOTAL	5.7	380.6	367.6	15.3	469.4	1,073.5	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	18.6	5,229.2	7,375.4	141.9	3,523.1	2,639.0	28.2	1,198.7
PIMA	1.3	74.6	232.8	3.8	39.0	126.1	0.0	1.1