FI Morning Grain Comments 06/30/22

PDF attached

 

Good
morning. 
USDA
report day.

 

Traders
are looking for slight decrease in US soybean acres and a 371,000 acre increase in corn plantings. The weather outlook is slightly more favorable for the US Midwest & Delta, Canadian Prairies, and northern China. The WCB will see rain July 3-4 and ECB the
5th and 6th. Rain expected for parts of the Great Plains over the next week. CBOT soybeans are lower in a pre-USDA report trade, in part to positioning, lower WTI crude oil, weakness in US equities, and a higher USD. Wheat and corn are likely lower for the
same reasons. Egypt’s GASC bought 815,000 tons of wheat, largest single purchase in years. There were no deliveries posted for the soybean complex.
There
were 1,658 Chicago wheat deliveries, more than expected. One delivery was issued for KC and MN deliveries were 184.

 

 

 

 

Weather

 

World
Weather Inc.

WORLD
WEATHER HIGHLIGHTS FOR JUNE 30, 2022

• Low
  soil moisture remains in parts of the U.S. Midwest and timely rain will be extremely important over the next couple of weeks
  
• Most
  forecast models are offering some timely rain, but its distribution may not be ideally suited leaving some areas drier biased while others get a little boost in moisture
• Second
  week rainfall potentials seem higher than those in this first week, but confidence is low
• No
  excessive heat is expected in the heart of the U.S. Midwest for the next couple of weeks, but some hot weather will occur briefly in the Plains and far western Corn Belt today and Thursday briefly
• Most
  longer range forecasting models for North America are still keeping the ridge of high pressure moving around between the high Plains and the Mississippi River and its frequent movement and change in intensity will help provide a variety of weather in key crop
  areas
• West
  Texas cotton, corn and sorghum areas do not get good rainfall during the next ten days to two weeks and dryness will prevail, despite a few showers
• A
  good mix of rain and sunshine is expected in the U.S. Delta and southeastern states during the next ten days
• Tropical
  Low off the Texas coast will bring significant rain to some of the Coastal Bend crop areas over the next few days
• No
  changes occurred overnight in the potential Tropical Cyclone Two that is interacting with northern Venezuela today before turning toward Nicaragua and Costa Rica this weekend
  
• Torrential
  rain will impact Central America resulting in some flooding, but damaging wind should be limited
• Tropical
  Cyclones may also impact southern China, Taiwan, western Japan and the Korean Peninsula in this coming week
  
• Heavy
  rain and windy conditions will accompany each storm, but none of these will be strong enough to induce serious damage – at least not based on recent data
• Western
  Luzon Island, Philippines will also be impacted by rain associated with Tropical Storm Chaba, although that storm is located farther to the west in the South China Sea today and will reduce some of the rain in the Philippines
• Europe
  rainfall is expected to be restricted for a while which will lead to some net drying
• Dryness
  in Europe is greatest from Hungary and extreme southwestern Ukraine into Romania and Bulgaria and limited relief is expected in the southern part of the region
• Russia’s
  Southern Region and far eastern Ukraine are expected to stay drier biased for the next two weeks, but temperatures will be mild to cool through the first week which may help conserve soil moisture and protect production potentials
  
• Warming
  late next week could heighten some concern for the region
• China’s
  weather will be favorably mixed for a while with no dryness issues. Much of the nation is wet and would benefit from drying especially in the northeast and south
• India’s
  monsoon will continue to expand and intensify over the next week to ten days
  
• Some
  needed rain will reach Gujarat and Rajasthan over time
• Central
  and eastern Queensland, Australia and northeastern New South Wales will get rain today into the weekend stalling fieldwork and saturating the ground
• Argentina
  will stay dry through the next two weeks in key wheat areas

Source:
World Weather INC

 

 

 

 

Bloomberg
Estimates for USDA

 

 

 

Bloomberg
Ag Calendar

Thursday,
June 30:

• USDA
  weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
• USDA’s
  quarterly stockpile data for wheat, barley, corn, oat, soy and sorghum, noon
• US
  acreage for corn, soybeans and wheat
• US
  agricultural prices paid, received, 3pm
• Malaysia’s
  June palm oil export data

Friday,
July 1:

• ICE
  Futures Europe weekly commitments of traders report
• CFTC
  commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
• Monthly
  coffee exports from Costa Rica and Honduras
• International
  Cotton Advisory Committee releases monthly world outlook report
• USDA
  soybean crush, DDGS production, corn for ethanol, 3pm
• FranceAgriMer
  weekly update on crop conditions
• Australia
  commodity index
• HOLIDAY:
  Canada, Hong Kong

Source:
Bloomberg and FI

 

FI
First Notice Day Delivery

 

 

 

USDA
export sales

Poor
export sales all around with exception of wheat (496,700 tons) and pork sales (32,300 tons). Corn export sales were only 88,800 tons old crop (marketing year low) and 119,300 tons new-crop. Soybean sales were negative 120,100 tons for old crop. There were
decreases for unknown (288,400 MT), Pakistan (55,000 MT), and Italy (46,000 MT). New-crop sales were 127,600 tons. Meal sales were a low 23,900 tons old crop and 47,900 tons new-crop.  Soybean oil sales were a poor 1,200 tons.

 

 

 

Macros

US
Initial Jobless Claims Jun 25: 231K (est 230K; prev 229K)

US
Personal Income May: 0.5% (est 0.5%; prev 0.4%)

US
Personal Spending May: 0.2% (est 0.4%; prev 0.9%)

US
Real Personal Spending May: -0.4% (est -0.3%; prev 0.7%)

US
PCE Core Deflator May: 0.3% (est 0.4%; prev 0.3%)

US
PCE Core Deflator May: 4.7% (est 4.8%; prev 4.9%)

US
PCE Deflator (M/M) May: 0.6% (est 0.7%; prev 0.2%)

US
PCE Deflator (Y/Y) May: 6.3% (est 6.4%; prev 6.3%)

US
Continuing Claims Jun 18: 1328K (est 1318K; prev 1315K)

Canadian
GDP (M/M) Apr: 0.3% (est 0.3%; prev 0.7%)

Canadian
GDP (Y/Y) Apr: 5.0% (est 4.9%; prev 3.5%)

Canadian
GDP Falls 0.2% In May – StatsCan

 

Corn

·        
Corn futures
are lower ahead of the USDA plantings and stocks reports. A higher USD and weaker energy markets, along with good US weather and pressuring prices. The WCB will see rain July 3-4 and ECB the 5^th and 6^th.

·        
Traders are looking for slight decrease in US soybean acres and a 371,000 acre increase in corn plantings.

·        
Greece offered to supply grain ships to help export Ukrainian grain.

·        
The USDA Broiler reported showed eggs set in the US up 2 percent from a year ago and chicks placed up 1 percent. Cumulative placements from the week ending January 8, 2022, through June 25, 2022, for the United States were 4.68
billion. Cumulative placements were up slightly from the same period a year earlier.

·        
Agro consulting Datagro sees the Brazil total crop at 116.1 million tons versus 114.35 million tons previously, and second corn crop at 91.25 million tons versus 89.5 million previous. USDA is at 116 million tons.

·        
EIA’s Weekly Petroleum Status Report showed ethanol production fell 9,000 barrels to 1.051 million, and stocks decreased 451,000 barrels to 22.746 million, over a two-week period.

 

USDA
Hog and Pig Report. 
– Showed another contraction and friendly for hog futures. All hogs did come in slightly below expectations. Highlights below.

 

United
States inventory of all hogs and pigs on June 1, 2022, was 72.5 million head. This was down 1 percent from June 1, 2021, and down slightly from March 1, 2022.  Breeding inventory, at 6.17 million head, was down 1 percent from last year, but up 1 percent from
the previous quarter.  Market hog inventory, at 66.4 million head, was down 1 percent from last year, and down slightly from last quarter.  The March-May 2022 pig crop, at 32.9 million head, was down 1 percent from 2021. Sows farrowing during this period totaled
2.99 million head, down 1 percent from 2021. The sows farrowed during this quarter represented 49 percent of the breeding herd. The average pigs saved per litter was 11.00 for the March-May period, compared to 10.95 last year.

 

 

 

Export
developments.

·        
South Korea’s NOFI bought 136,000 tons of South American corn at $348.88 c&f for Sep-Oct shipment, depending on origin.

 

 

 

Soybeans

·        
CBOT soybeans are lower in a pre-USDA report trade, in part to positioning, lower WTI crude oil, weakness in US equities, and a higher USD. Wheat and corn are likely lower for the same reasons.  Non-expiring products are lower
led by soybean meal.

·        
There were no deliveries posted for the soybean complex.

·        
Argentina trucker protests are already slowing grain loadings for exports and soon could slow crush rates as arrivals are significantly dropping. The Rosario Grains Exchange reported Wednesday truck arrivals at Rosario Terminals
were 889, 76% less than a year ago. Truckers are protesting high diesel prices and shortages of the product.

·        
Meanwhile, a major Argentina farm group called for a strike in two weeks over shortages of diesel and fertilizers.

·        
Indonesia is looking at a mandatory palm oil mix in its biodiesel to 35 percent from 30 percent. This is in response to boost domestic use after exports slowed from recent policies banning or limiting exports.

·        
September Malaysian palm oil futures were up 7MYR and cash was up $20 to $1260.

·        
For the month palm futures fell 22 percent, worst in nearly 14 years.

·        
ITS reported June Malaysian palm oil shipments decline 10.4 percent to 1.269 million tons from 1.416 million previous month. AmSpec reported 1.180 million tons versus 1.361 million previously.

·        
China soybean complex futures were mixed, with meal higher and soybean oil lower.

·        
Rotterdam vegetable oils were mixed and meal 2-8 euros higher.

·        
Offshore values were leading SBO about 34 points lower and meal $4.60 short ton lower. 

·        
A Reuters poll calls for the Brazil 2022-23 soybean harvest to end up near 148 million tons, with a 42.2-million-hectare area (up 2.9% from 2021-22). USDA is at 149 million tons for 2022-23, up from 126 million tons for 2021-22.

 

Export
Developments

·        
Turkey seeks 18,000 tons of sunflower oil on July 5 for delivery between July 20 and August 29.

·        
South Korea’s NOFI group seeks 120,000 tons of soybean meal, optional origin, for October 25-November 5 arrival.

·        
China looks to sell a half a million tons of soybeans out of reserves on Friday.

 

 

 

Wheat

·        
US wheat futures are lower from a higher USD, weaker outside markets and rain expected for parts of the Great Plains during the July 3-4 period. 

·        
Russia confirmed it withdrew troops from Ukraine’s Snake Island in the Black Sea after Ukrainian forces said they had pulled out under massive attack. (Bloomberg)  Some are wondering if this will improve Ukraine export prospects
via Black Sea.

·        
There were 1,658 Chicago wheat deliveries, more than expected. One delivery was issued for KC and MN deliveries were 184.

·        
Egypt bought 815,000 tons of wheat, mostly from France.

·        
The World Bank approved a $500 million loan to Egypt for food security. Earlier this week the World Bank loaned $130 million to Tunisia to finance wheat imports.

·        
Paris September wheat was up 1 euro earlier at 359.75 euros per ton.

·        
Agritel sees the Romanian 2022 wheat crop falling 16.5% to 9.31 million tons from a record 11.15 million year ago.

·        
Russia’s wheat export duty will increase to $146.10 on June 29 from current $142.00 per ton set on June 22.

·        
Interfax reported Russia is looking at changing its base price for calculating wheat export tax to 15,000 rubles ($286) per ton from a previously USD of $200 a ton.

·        
India’s June monsoon rains were 8 percent below average.

 

Export
Developments.

·        
Egypt’s GASC bought 815,000 tons of wheat, largest single purchase in years.  However, it is important to note that delivery dates are spread out three months, averaging 272,000 tons per month. About 1.2 million tons was offered
for the Aug/Sep/Oct period. This is less than what would be offered prior to the Ukraine/Russia conflict, on a per month basis. Yesterday’s purchased included 350,000 tons of French wheat, 240,000 tons of Romanian wheat, 175,000 tons of Russian wheat and 50,000
tons of Bulgarian wheat. The lowest cost and freight offer was for Romanian wheat at $429.90 a ton.

·        
Jordan seeks 120,000 tons of wheat on July 5 for Oct/Nov shipment.

·        
Jordan seeks 120,000 tons of barley on July 6 for Oct/Nov shipment.

·        
Pakistan seeks 500,000 tons of wheat on July 1, optional origin, for Aug/FH Sep shipment.

·        
Bangladesh seeks 50,000 tons of wheat on July 5 and again July 14 for shipment within 40 days (updated 6/27).

 

Rice/Other

·        
None reported

 

 

USDA
export sales

 

 

This
summary is based on reports from exporters for the period June 17-23, 2022.

Wheat:
Net sales of 496,700 metric tons (MT) for 2022/2023 primarily for the Philippines (68,000 MT), Brazil (57,500 MT), Mexico (55,000 MT, including decreases of 11,900 MT), Yemen (55,000 MT), and Italy (48,000 MT), were offset by reductions primarily for Vietnam
(3,900 MT).  Exports of 241,400 MT were primarily to the Philippines (65,500 MT), Mexico (43,300 MT), Nigeria (29,100 MT), Italy (18,000 MT), and Vietnam (17,500 MT). 

Corn: 
Net sales of 88,800 MT for 2021/2022–a marketing-year low–were down 87 percent from the previous week and 72 percent from the prior 4-week average.  Increases primarily for Japan (191,900 MT, including 220,600 MT switched from unknown destinations and decreases
of 200 MT), South Korea (68,600 MT, including 68,000 MT switched from unknown destinations), Saudi Arabia (30,000 MT), Colombia (16,900 MT, including decreases of 4,200 MT), and El Salvador (15,000 MT), were offset by reductions primarily for unknown destinations
(143,500 MT), Taiwan (61,100 MT), Mexico (33,200 MT), and Panama (22,900 MT).  Net sales of 119,300 MT for 2022/2023 were reported for Mexico (57,000 MT), Panama (48,300 MT), Barbados (8,000 MT), Taiwan (4,500 MT), and the Leeward and Windward Islands (1,500
MT).  Exports of 1,254,700 MT were up 9 percent from the previous week, but down 9 percent from the prior 4-week average.  The destinations were primarily to Japan (425,900 MT), Mexico (296,300 MT), China (207,700 MT), South Korea (69,800 MT), and Guatemala
(66,800 MT). 

Optional
Origin Sales: 
For 2021/2022, options were exercised to export 110,000 MT to unknown destinations from the United States.  The current outstanding balance of 108,300 MT is for unknown destinations (65,000 MT), Italy (34,300 MT), and Saudi Arabia
(9,000 MT).  For 2022/2023, the current outstanding balance of 35,400 MT is for Italy.

Barley: 
Total net sales reductions of 1,700 MT for 2022/2023 were for South Korea.  Total exports of 700 MT were to Japan.

Sorghum: 
Net sales of 3,600 MT for 2021/2022 were down 96 percent from the previous week and 90 percent from the prior 4-week average.  Increases were reported for China (2,100 MT) and Mexico (1,500 MT).  Exports of 74,000 MT were down 51 percent from the previous
week and 54 percent from the prior 4-week average.  The destination was primarily to China (73,200 MT).

Rice: 
Net sales of 17,500 MT for 2021/2022 were down 13 percent from the previous week and 45 percent from the prior 4-week average.  Increases primarily for Honduras (10,100 MT), Jordan (4,000 MT), Saudi Arabia (1,900 MT), Canada (1,800 MT), and Mexico (800 MT),
were offset by reductions for Guatemala (1,100 MT), El Salvador (500 MT), and Haiti (200 MT).  Total net sales of 1,900 MT for 2022/2023 were for Guatemala.  Exports of 45,800 MT were down 13 percent from the previous week and 25 percent from the prior 4-week
average.  The destinations were primarily to Haiti (15,100 MT), Japan (12,000 MT), Honduras (8,800 MT), Canada (3,400 MT), and South Korea (2,700 MT).

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

Soybeans: 
Net sales reductions of 120,200 MT for 2021/2022–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average.  Increases primarily for the Netherlands (149,000 MT, including 138,000 MT switched from unknown destinations),
Japan (49,000 MT, including 48,400 MT switched from unknown destinations and decreases of 300 MT), Canada (19,800 MT), Costa Rica (16,800 MT, including decreases of 200 MT), and China (16,400 MT, including 46,000 MT switched from Italy, 19,000 MT switched
from unknown destinations, and decreases of 66,000 MT), were more than offset by reductions primarily for unknown destinations (288,400 MT), Pakistan (55,000 MT), and Italy (46,000 MT).  Net sales of 127,600 MT for 2022/2023 were primarily for unknown destinations
(70,000 MT), Saudi Arabia (40,000 MT), Barbados (6,600 MT), Panama (6,000 MT), and Indonesia (4,000 MT).  Exports of 517,700 MT were up 5 percent from the previous week and 3 percent from the prior 4-week average.  The destinations were primarily to the Netherlands
(149,000 MT), China (93,500 MT), Mexico (72,800 MT), Egypt (67,100 MT), and Japan (52,700 MT).  

Export
for Own Account:
For 2021/2022, the current exports for own account outstanding balance is 6,300 MT, all Canada.

Soybean
Cake and Meal: 
Net sales of 23,900 MT for 2021/2022 were down noticeably from the previous week and down 83 percent from the prior 4-week average.  Increases primarily for Mexico (18,000 MT, including decreases of 1,900 MT), Canada (6,300 MT, including decreases of 400 MT),
Guatemala (4,600 MT, including 3,000 MT switched from Nicaragua and decreases of 400 MT), Honduras (3,300 MT, including decreases of 26,200 MT), and the Philippines (2,200 MT, including decreases of 100 MT), were offset by reductions primarily for Ireland
(9,000 MT), Nicaragua (3,000 MT), and the Dominican Republic (1,300 MT).  Net sales of 47,900 MT for 2022/2023 were reported for Guatemala (29,400 MT), El Salvador (10,000 MT), Panama (7,600 MT), and Leeward and Windward Islands (900 MT).  Exports of 295,300
MT were up 38 percent from the previous week and 41 percent from the prior 4-week average.  The destinations were primarily to the Philippines (49,100 MT), Colombia (46,600 MT), Mexico (39,600 MT), Guatemala (27,600 MT), and Morocco (23,700 MT).

Soybean
Oil: 
Net sales of 1,200 MT for 2021/2022 were down 16 percent from the previous week and 64 percent from the prior 4-week average.  Increases reported for Canada (1,200 MT) and Trinidad and Tobago (100 MT), were offset by reductions for Mexico (100 MT).  Exports
of 300 MT–a marketing-year low–were down 97 percent from the previous week and 98 percent from the prior 4-week average.  The destination was primarily to Canada (200 MT).

Cotton: 
Net sales of 48,100 RB for 2021/2022 were up noticeably from the previous week, but down 71 percent from the prior 4-week average.  Increases primarily for Vietnam (33,900 RB, including 11,900 RB switched from China and 2,200 RB switched from South Korea),
China (25,400 RB, including decreases of 9,700 RB), Mexico (3,500 RB, including decreases of 100 RB), Peru (1,800 RB), and Japan (1,600 RB, including decreases of 200 RB), were offset by reductions primarily for India (6,600 RB), Colombia (5,300 RB), Turkey
(3,600 RB), South Korea (2,100 RB), and Bangladesh (1,100 RB).  Net sales of 46,300 RB for 2022/2023 were primarily for Turkey (25,500 RB), Portugal (8,800 RB), Mexico (3,700 RB), Japan (3,500 RB), and Indonesia (2,600 RB).  Exports of 364,400 RB were down
2 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily to China (102,600 RB), Turkey (70,800 RB), Vietnam (43,000 RB), Pakistan (29,800 RB), and India (26,500 RB).  Net sales of Pima totaling 800 RB were
down 39 percent from the previous week, but up 4 percent from the prior 4-week average.  Increases were primarily for Thailand (400 RB).  Total net sales of 500 RB for 2022/2023 were for Peru.  Exports of 6,400 RB were up 14 percent from the previous week,
but down 33 percent from the prior 4-week average.  The destinations were primarily to India (2,200 RB), Vietnam (1,000 RB), Pakistan (800 RB), Peru (600 RB), and China (400 RB). 

Optional
Origin Sales: 
For 2021/2022, options were exercised to export 500 RB to Vietnam from the United States.  The current outstanding balance of 14,900 RB is for Vietnam (12,400 RB) and Pakistan (2,500 RB).

Export
for Own Account:
For 2021/2022, new exports for own account totaling 3,200 RB were to China (2,400 RB) and Vietnam (700 RB).  Exports for own account totaling 1,100 RB to China (1,000 RB) and Vietnam (100 RB) were applied to new or outstanding sales.  The current exports for
own account outstanding balance of 38,700 RB is for China (25,700 RB), Vietnam (7,100 RB), and Indonesia (5,900 RB).

Hides
and Skins: 
Net sales of 364,600 pieces for 2022 were down 18 percent from the previous week and 15 percent from the prior 4-week average.  Increases primarily for China (202,600 whole cattle hides, including decreases of 17,900 pieces), Mexico (59,600 whole cattle hides,
including decreases of 1,700 pieces), South Korea (53,300 whole cattle hides, including decreases of 600 pieces), Thailand (30,500 whole cattle hides, including decreases of 1,600 pieces), and Germany (4,100 whole cattle hides), were offset by reductions for
Taiwan (4,800 pieces).  Total net sales of 7,200 calf skins were for Italy.  In addition, total net sales reductions of 300 kip skins were for Belgium.  Exports of 444,800 pieces were up 27 percent from the previous week and 9 percent from the prior 4-week
average.  Whole cattle hides exports were primarily to China (245,100 pieces), Thailand (64,600 pieces), Mexico (48,900 pieces), South Korea (41,000 pieces), and Brazil (18,600 pieces).  In addition, total exports of 2,600 kip skins were to Belgium.

Net
sales of 68,100 wet blues for 2022 were down 73 percent from the previous week and 64 percent from the prior 4-week average.  Increases were primarily for Vietnam (38,500 unsplit, including decreases of 200 unsplit), Italy (21,400 grain splits, including decreases
of 15,500 unsplit and 100 grain splits), China (19,100 unsplit), India (2,400 grain splits), and Taiwan (1,700 grain splits).  Total net sales of 6,500 wet blues for 2023 were for Italy.  Exports of 119,700 wet blues were down 19 percent from the previous
week and 18 percent from the prior 4-week average.  The destinations were primarily to China (33,000 unsplit), Vietnam (30,100 unsplit), Italy (21,000 unsplit), Thailand (18,700 unsplit), and Hong Kong (5,000 unsplit).  Net sales of 168,800 splits were up
noticeably from the previous week, but down 44 percent from the prior 4-week average.  Increases reported for Vietnam (239,300 pounds, including decreases of 23,600 pounds), were offset by reductions for South Korea (70,400 pounds).  Exports of 358,400 pounds
were down 35 percent from the previous week and 24 percent from the prior 4-week average. The destinations were to Vietnam (314,600 pounds) and China (43,800 pounds).

Beef: 
Net sales of 17,000 MT for 2022 were up 52 percent from the previous week and 6 percent from the prior 4-week average.  Increases primarily for South Korea (5,100 MT, including decreases of 1,100 MT), China (4,500 MT, including decreases 400 MT), Japan (2,000
MT, including decreases of 1,000 MT), Taiwan (1,700 MT, including decreases of 100 MT), and Indonesia (1,000 MT), were offset by reductions for Chile (100 MT).  Exports of 19,800 MT were up 4 percent from the previous week and 5 percent from the prior 4-week
average.  The destinations were primarily to South Korea (5,700 MT), Japan (5,000 MT), China (3,800 MT), Taiwan (1,100 MT), and Canada (1,000 MT).

Pork: 
Net sales of 32,300 MT for 2022 were up 27 percent from the previous week and from the prior 4-week average.  Increases were primarily for Mexico (20,700 MT, including decreases of 200 MT), Japan (3,700 MT, including decreases of 100 MT), Australia (2,700
MT), Canada (1,400 MT, including decreases of 400 MT), and South Korea (1,100 MT, including decreases of 200 MT).  Total net sales reductions of 100 MT for 2023 were for Australia.  Exports of 27,700 MT were down 4 percent from the previous week and 1 percent
from the prior 4-week average.  The destinations were primarily to Mexico (12,200 MT), China (4,300 MT), Japan (4,000 MT), South Korea (2,400 MT), and Canada (1,300 MT).

 

U.S. EXPORT SALES FOR WEEK ENDING  6/23/2022

	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	159.4	1,342.9	1,549.4	64.8	339.7	519.4	0.0	0.0
SRW	109.6	996.1	1,039.8	38.3	151.2	31.8	0.0	0.0
HRS	83.2	1,267.8	1,562.6	74.2	402.6	353.1	0.0	0.0
WHITE	96.5	899.2	1,078.2	46.1	248.4	231.1	0.0	0.0
DURUM	48.0	104.4	8.4	18.0	18.0	26.3	0.0	0.0
TOTAL	496.7	4,610.3	5,238.4	241.4	1,159.9	1,161.7	0.0	0.0
BARLEY	-1.7	11.5	23.7	0.7	2.2	1.1	0.0	0.0
CORN	88.8	8,952.8	12,147.5	1,254.7	51,471.0	57,399.6	119.3	6,376.9
SORGHUM	3.6	656.0	893.1	74.0	6,248.3	6,337.0	0.0	0.0
SOYBEANS	-120.2	8,389.4	3,567.7	517.7	51,729.1	58,272.9	127.6	13,497.6
SOY MEAL	23.9	2,144.8	2,288.2	295.3	8,971.6	8,950.6	47.9	545.8
SOY OIL	1.2	82.5	26.1	0.3	603.0	651.8	0.0	0.0
RICE
L G RGH	8.5	70.9	221.1	9.4	1,246.1	1,525.3	1.9	11.5
M S RGH	0.0	6.8	8.4	0.5	14.1	25.5	0.0	0.0
L G BRN	0.2	3.5	12.2	0.6	51.0	38.9	0.0	0.0
M&S BR	0.1	9.8	23.0	0.1	77.9	133.7	0.0	0.0
L G MLD	7.6	67.3	45.2	18.5	750.4	607.8	0.0	0.0
M S MLD	1.1	134.7	136.1	16.6	398.8	548.2	0.0	0.0
TOTAL	17.5	293.0	446.0	45.8	2,538.4	2,879.5	1.9	11.6
COTTON		THOUSAND RUNNING BALES
UPLAND	48.1	4,092.2	2,425.4	364.4	11,510.9	13,638.7	46.3	4,066.7
PIMA	0.8	58.0	121.5	6.4	421.8	700.8	0.5	53.6