FI Morning Grain Comments 12/09/21

PDF attached

 

Good
morning

 

Private
exporters reported sales of 280,000 metric tons of soybeans for delivery to unknown destinations. Of the total, 140,000 metric tons is for delivery during the 2021/2022 marketing year and 140,000 metric tons is for delivery during the 2022/2023 marketing year.

 

USDA
export sales were withing expectations for most commodities. Meal and SBO shipments were good. USDA S&D’s will be released at 11 am CT. We will be monitoring world ending stocks first, then changes in the US balance sheets. Look for world wheat and soybean
stocks to increase. The USD was more than 18 points higher, WTI crude about $0.70 lower and equities lower at the time this was written.

 

The
China CASDE reported increased 2021-22 corn production 1.6MMT to 272.6 million tons, and left consumption unchanged. China lowered the soybean production by 2.25MT to 16.4 million tons, and lowered soybean consumption by 1.0 million tons. China corn ending
stocks were upward revised 1.6MMT and soybean ending stocks fell 1.25MMT.

 

Brazil
Conab reported soybean production at a record 142.8MMT, 1.7MMT below expectations and up 0.8MMT from November (5.5MMT above 2020-21).  Brazil Conab corn production was lifted 0.5 million tons above their November estimate to 117.2MMT, 1.5MMT below expectations
and 30.1 million above 2020-21.

 

Both
the CASDE and Conab report should be pressuring CBOT corn but despite weakness in soybeans and wheat, March corn was down only 0.50 cent at the time this was written. Wheat is lower on follow through selling. Soybeans are lower on weakness in soybean oil and
a lower-than-expected Brazil soybean crop.

 

 

 

Weather

                                                                                                                    

World
Weather Inc.

WORLD
WEATHER HIGHLIGHTS FOR DECEMBER 9, 2021

• A
  significant snow event is expected from southern South Dakota and northern Nebraska to upper Michigan tonight and Friday with 3-6 inches of accumulation in western areas and 6 to 12 inches to the east.
  
• Storminess
  is also expected in the far western U.S. late this weekend into next week with significant rain and mountain snow easing drought briefly.
  
• U.S.
  hard red winter wheat production areas “may” get some rain and snow in ten days, but confidence is low.
  
• Most
  of the eastern U.S. precipitation will occur in the Delta and lower eastern Midwest.
  
• In
  South America today, the forecast has not changed much with eastern Argentina, far southern Brazil. Uruguay and southern Paraguay seeing the least significant precipitation over the next two weeks and net drying is probable resulting in a little crop moisture
  stress.
• Good
  weather conditions should prevail in center west, center south and northeastern Brazil.
  
• Argentina
  may see warmer temperatures for a while next week and if that occurs while precipitation is restricted some of the drier areas will dry out enough to induce greater crop stress especially in the northeast.
  
• Australia
  crop conditions will be good for the next ten days favoring winter crop harvesting and summer crop development.
  
• India’s
  weather will be tranquil as well along with much of China.
• Europe
  and western CIS will see a mix of rain, sunshine and some snow.
• North
  Africa is still dry biased in Morocco and northwestern Algeria with little to no change likely.
  
• South
  Africa weather will remain well mixed

Indonesia,
Malaysia and coffee, cocoa and sugarcane areas of west-central Africa will experience favorable weather over the next ten

 

Bloomberg
Ag Calendar

Thursday,
Dec. 9:

• USDA’s
  monthly World Agricultural Supply and Demand (WASDE) report, noon
• USDA
  weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
• China
  farm ministry’s monthly crop supply-demand report (CASDE)
• Brazil’s
  Conab report on yield, area and output of corn and soybeans
• Fitch
  ESG Outlook Conference Asia Pacific, day 2
• Port
  of Rouen data on French grain exports

Friday,
Dec. 10:

• 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
• Malaysian
  Palm Oil Board’s data on November palm oil reserves, output and exports
• Malaysia’s
  Dec. 1-10 palm oil exports
• HOLIDAY:
  Thailand

Source:
Bloomberg and FI

 

 

 

 

 

 

 

 

 

 

 

Macros

US
Initial Jobless Claims Dec-4: 184K (exp 220K; R prev 227K)

–         
Continuing Claims Nov-27: 1992K (exp 1910K; R prev 1954K)

 

Corn

·        
Both the CASDE and Conab report should be pressuring CBOT corn but despite weakness in soybeans & wheat, higher USD and lower WTI crude oil, March corn was down only 0.50 cent at the time this was written. Losses in soybean meal
should be noted.

·        
The China CASDE reported increased 2021-22 corn production 1.6MMT to 272.6 million tons, and left consumption unchanged. China corn ending stocks were upward revised 1.6MMT and soybean ending stocks fell 1.25MMT.

·        
Brazil Conab corn production was lifted 0.5 million tons above their November estimate to 117.2MMT, 1.5MMT below expectations and 30.1 million above 2020-21.

·        
The SA weather seems to be slightly better this AM for the longer-term maps in Southern BR with chances of rain beyond December 20th.

·        
Weekly US ethanol production increased a more than expected 55,000 barrels (trade looked for up 11,000)   to 1.090 million from the previous week, largest weekly gain in two months, and stocks increased 163,000 barrels (trade
looked for up 130,000) to 20.464 million. 

·        
The USDA Broiler Report showed eggs set in the US up 1 percent and chicks placed up 3 percent.  Cumulative placements from the week ending January 9, 2021, through December 4, 2021, for the United States were 8.89 billion. Cumulative
placements were up slightly from the same period a year earlier.

 

Export
developments.

·        
South Korea’s KOCOPIA bought up to 60,000 tons of corn from Ukraine. Details were lacking.

 

Urea
prices at the Gulf are up about 200% this year and Phosphate up nearly 100%.

Source:
Reuters

 

Soybeans

·        
Soybeans are lower on weakness in soybean oil and a lower-than-expected Brazil soybean crop. The USD was also trading over 18 points higher. Losses are limited in soybean meal.

·        
January soybean oil strong support is seen at 54 cents. It hit a low of 54.30, taking out its Wednesday session low of 54.46. 

·        
Brazil Conab reported soybean production at a record 142.8MMT, 1.7MMT below expectations and up 0.8MMT from November (5.5MMT above 2020-21).

·        
We are hearing China’s soybean buying from the US has again been active this week but daily volumes are light.

·        
China lowered the soybean production by 2.25MT to 16.4 million tons, and lowered soybean consumption by 1.0 million tons. China corn ending stocks were upward revised 1.6MMT and soybean ending stocks fell 1.25MMT. The left soybean
imports unchanged at 102 million tons. 

·        
(Bloomberg) — China’s lower-than-expected soybean production is likely to result in elevated prices in 2021-22, which could hurt demand for domestic soybean consumption and crushing, according to China Agricultural Supply and
Demand Estimates.

·        
Later this morning the trade is looking for USDA global wheat and soybean stocks to increase from the month.

·        
Offshore values are leading soybean oil 126 points higher and meal $0.60 short ton lower.

·        
Rotterdam meal values were 7-9 euros higher from yesterday morning and Rotterdam oil mixed (SBO lower and RSO higher).

·        
MPOB Malaysian palm data is due out Thursday evening (CT).

·        
Malaysian palm oil futures traded down 63 ringgit and cash was off $5/ton to $1,192.50/ton.

·        
Malaysia

·        
China crush margins on our analysis was last $2.02 ($1.95 previous) versus $2.22 at the end of last week and compares to $0.93 a year ago.

·        
China futures were up 0.1% for soybeans, soybean meal up 1.5%, soybean oil down 1.0% and palm oil down 1.4%.

 

Export
Developments

·        
Private exporters reported sales of 280,000 metric tons of soybeans for delivery to unknown destinations. Of the total, 140,000 metric tons is for delivery during the 2021/2022 marketing year and 140,000 metric tons is for delivery
during the 2022/2023 marketing year.

 

November
MPOB versus Reuters estimates

 

 

Wheat

·        
US wheat is lower on follow through selling on improving North American weather and good Black Sea and European wheat demand. Chicago March wheat is trading near a one-month low.

·        
Later this morning the trade is looking for USDA global wheat and soybean stocks to increase from the month.

·        
March Matif Paris wheat was 4.25 euros lower at 282.75.

·        
(Bloomberg) — Central and western Ukraine are expected to see showers this week, improving soil moisture for wheat, Maxar says in a note. 

·        
Australia weather looks good through the next ten days.

·        
Argentina’s Rosario grains exchange increased their wheat production estimate at 22.1 million tons, up from 20.4 million previously.

 

Export
Developments.

·        
South Korea’s NOFI group bought about 60,000 tons of feed wheat and passed on corn. The wheat was bought at around $336.95/ton c&f for shipment sometime from late Jan through Mar 1, depending on origin.

·        
Jordan bought 60,000 tons of wheat (out of 120k sought) at an estimated $341 a ton c&f for shipment in the first half of July 2022.

·        
Jordan seeks 120,000 tons of feed barley on December 15.

·        
Results awaited: The Philippines seeks 125,000 tons of feed barley and 300,000 tons of feed wheat on December 9 for Feb-Jun arrival.

·        
Japan seeks 260,312 tons of food wheat from the US and Canada. Original tender details:

·        
Japan in a SBS import tender seeks 80,000 tons of feed wheat and 100,000 tons of barley on December 15 for arrival by March 10.

 

Rice/Other

·        
Results awaited: South Korea seeks 22,000 tons of rice from the US on December 9 for arrival in South Korea from May 2022 and from August 2022.

 

 

 

USDA Export Sales

USDA export sales for soybeans improved from the previous week to 1.638 million tons and were reported at the high end of the Reuters trade range.  Increases primarily for China (893,400 MT, including
334,000 MT switched from unknown destinations, 61,000 MT switched from the Netherlands, and decreases of 2,100 MT), Egypt (226,800 MT, including 55,000 MT switched from unknown destinations and decreases of 4,200 MT), Spain (134,200 MT, including 125,000 MT
switched from unknown destinations).

Soybean meal export sales were 202,500 tons and shipments were good at 305,200 tons. Increases were primarily for Colombia (83,100 MT, including decreases of 8,300 MT),Venezuela (29,100 MT, including
6,500 MT switched from unknown destinations), Jamaica (17,500 MT), Mexico (16,400 MT).

Soybean oil export sales of 5,300 tons were at the lower end of a range of expectations but shipments of 31,800 tons were good. The shipment destinations were to India (30,000 MT), Mexico (1,000 MT),
Canada(600 MT), and Honduras (100 MT).

USDA corn export sales of 1.133 million tons were withing expectations and a slightly higher than the previous week.  Increases were primarily for Canada (258,400 MT, including decreases of 100 MT),
Colombia (244,800 MT, including 50,000 MT switched from unknown destinations and decreases of 13,500 MT), China (202,100 MT, including133,600 MT switched from unknown destinations).  Sorghum sales were excellent at 315,100 tons and included 370,100 tons for
China (55k switched from unknown). Sorghum sales included a 55k reduction. Pork sales were 19,800 tons.

USDA all-wheat export sales of 240,000 tons improved from the marketing low reported week earlier but still below its respected pace for this time of year. Increases primarily for Guatemala (68,700
MT, including 38,000switched from unknown destinations and decreases of 1,400 MT), Thailand(60,000 MT), the Philippines (56,000 MT).

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING  12/2/2021

FAX 202-690-3275

	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	80.9	1,963.1	1,595.7	97.0	3,806.6	5,141.4	0.0	14.0
SRW	55.5	632.7	400.7	24.0	1,502.7	1,022.8	0.0	34.5
HRS	60.3	1,123.4	1,475.3	50.5	2,779.8	3,767.7	0.0	0.0
WHITE	59.3	765.9	2,559.4	41.4	1,852.8	2,559.3	0.0	0.0
DURUM	-16.1	35.9	153.1	0.4	97.2	433.1	0.0	0.0
TOTAL	239.9	4,521.1	6,184.2	213.4	10,039.2	12,924.2	0.0	48.5
BARLEY	0.4	21.5	28.9	0.5	9.0	13.9	0.0	0.0
CORN	1,132.5	26,011.4	28,567.5	904.6	10,551.3	11,087.8	0.0	565.2
SORGHUM	315.1	3,417.3	3,376.8	176.7	931.0	1,277.4	0.0	0.0
SOYBEANS	1,637.9	15,300.6	23,088.9	2,433.9	23,504.3	29,727.5	0.0	0.0
SOY MEAL	202.5	3,473.6	3,132.1	305.2	2,156.3	2,132.7	2.8	37.3
SOY OIL	5.3	185.3	247.0	31.7	123.1	151.4	0.1	0.1
RICE
L G RGH	34.2	170.9	262.7	28.9	523.6	533.3	0.0	0.0
M S RGH	0.0	6.5	18.5	0.0	2.6	10.4	0.0	0.0
L G BRN	3.2	4.5	10.2	0.6	25.3	12.0	0.0	0.0
M&S BR	0.1	68.5	16.0	0.1	14.8	33.5	0.0	0.0
L G MLD	9.1	59.2	79.1	15.8	321.9	209.3	0.0	0.0
M S MLD	2.2	66.9	196.3	15.7	143.6	143.4	0.0	0.0
TOTAL	48.8	376.5	582.8	61.1	1,031.9	941.8	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	382.6	7,220.4	5,813.7	114.8	2,507.5	4,450.3	18.1	940.1
PIMA	7.1	240.5	222.5	8.7	117.7	277.4	0.9	4.0

 

This
summary is based on reports from exporters for the period November 26-December 2, 2021.

Wheat:  Net
sales of 239,900 metric tons (MT) for 2021/2022 were up noticeably from the previous week, but down 27 percent from the prior 4-week average.  Increases primarily for Guatemala (68,700 MT, including 38,000 switched from unknown destinations and decreases of
1,400 MT), Thailand (60,000 MT), the Philippines (56,000 MT), Mexico (51,900 MT, including decreases of 3,900 MT), and Colombia (26,000 MT, including decreases of 3,500 MT), were offset by reductions for unknown destinations (53,000 MT).  Exports of 213,400
MT were down 43 percent from the previous week and 25 percent from the prior 4-week average.  The destinations were primarily to South Korea (75,600 MT), Guatemala (39,800 MT), Mexico (31,600 MT), Honduras (22,500 MT), and Taiwan (21,900 MT).

Corn: 
Net sales of 1,132,500 MT for 2021/2022 were up 11 percent from the previous week and 2 percent from the prior 4-week average.  Increases were primarily for Canada (258,400 MT, including decreases of 100 MT), Colombia (244,800 MT, including 50,000 MT switched
from unknown destinations and decreases of 13,500 MT), China (202,100 MT, including 133,600 MT switched from unknown destinations), Mexico (65,600 MT, including decreases of 5,500 MT), and Peru (62,000 MT).  Exports of 904,600 MT were down 4 percent from the
previous week and from the prior 4-week average.  The destinations were primarily to Mexico (388,900 MT), China (136,700 MT), Canada (119,500 MT), Colombia (73,300 MT), and Honduras (62,000 MT).

Optional
Origin Sales: 
For 2021/2022, the current outstanding balance of 498,700 MT is for unknown destinations (429,000 MT), Italy (60,700 MT), and Saudi Arabia (9,000 MT).

Barley: 
Total net sales of 400 MT for 2021/2022 were for Japan.  Exports of 500 MT were down 50 percent from the previous week, but up 72 percent from the prior 4-week average.  The destination was to Japan.

Sorghum: 
Net sales of 315,100 MT for 2021/2022 resulting in increases for China (370,100 MT, including 55,000 MT switched from unknown destinations and decreases of 8,300 MT), were offset by reductions for unknown destinations (55,000 MT).  Exports of 176,700 MT were
down 6 percent from the previous week, but up 46 percent from the prior 4-week average.  The destinations were primarily to China (175,500 MT).

Rice:
 Net
sales of 48,800 MT for 2021/2022 were up 51 percent from the previous week, but down 22 percent from the prior 4-week average.  Increases were primarily for Honduras (18,500 MT), Guatemala (13,100 MT, including decreases of 500 MT), Jordan (4,100 MT), Taiwan
(3,000 MT), and Canada (2,400 MT).  Exports of 60,100 MT were down 42 percent from the previous week and 21 percent from the prior 4-week average.  The destinations were primarily to Guatemala (14,400 MT), Japan (13,000 MT), El Salvador (12,400 MT), Haiti
(12,400 MT), and Canada (2,600 MT).

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

Export
Adjustments: 
Accumulated exports of long grain, rough rice to El Salvador were adjusted down 500 MT for week ending November 25^th.  The correct destination for this shipment is Costa Rica. 

Soybeans: 
Net sales of 1,637,900 MT for 2021/2022 were up 54 percent from the previous week and 27 percent from the prior 4-week average.  Increases primarily for China (893,400 MT, including 334,000 MT switched from unknown destinations, 61,000 MT switched from the
Netherlands, and decreases of 2,100 MT), Egypt (226,800 MT, including 55,000 MT switched from unknown destinations and decreases of 4,200 MT), Spain (134,200 MT, including 125,000 MT switched from unknown destinations), Mexico (96,800 MT, including decreases
of 1,600 MT), and Indonesia (93,300 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT), were offset by reductions primarily for unknown destinations (306,400 MT).  Exports of 2,433,900 MT were up 5 percent from the previous
week, but down 7 percent from the prior 4-week average.  The destinations were primarily to China (1,470,600 MT), Spain (134,200 MT), the Netherlands (130,300 MT), Mexico (126,900 MT), and Taiwan (93,200 MT).

Export
for Own Account:
For 2021/2022, the current exports for own account totaling 66,000 MT to Canada were applied to new or outstanding sales.  The current exports for own account outstanding balance is 34,600 MT, all Canada.

Soybean
Cake and Meal: 
Net sales of 202,500 MT for 2021/2022 were up 38 percent from the previous week and 9 percent from the prior 4-week average.  Increases primarily for Colombia (83,100 MT, including decreases of 8,300 MT), Venezuela (29,100 MT, including 6,500 MT switched from
unknown destinations), Jamaica (17,500 MT), Mexico (16,400 MT), and Peru (10,000 MT), were offset by reductions primarily for unknown destinations (4,900 MT), the Dominican Republic (2,800 MT), and El Salvador (1,000 MT).  Net sales of 2,800 MT for 2022/2023
were reported for Japan (1,200 MT), the Netherlands (800 MT), and Canada (800 MT).  Exports of 305,200 MT–a marketing-year high–were up 16 percent from the previous week and 30 percent from the prior 4-week average.  The destinations were primarily to the
Philippines (109,300 MT), Canada (32,500 MT), Venezuela (29,100 MT), the Dominican Republic (22,900 MT), and Colombia (22,400 MT). 

Optional
Origin Sales: 
For 2021/2022, new optional origin sales of 50,000 MT were reported for Venezuela.  The current outstanding balance of 50,000 MT is for Venezuela. 

Soybean
Oil: 
Net sales of 5,300 MT for 2021/2022 were down 89 percent from the previous week and 87 percent from the prior 4-week average.  Increases were reported for Mexico (2,200 MT), Honduras (2,000 MT), the Dominican Republic (600 MT), and Canada (500 MT).  Total
net sales of 100 MT for 2022/2023 were for Canada.  Exports of 31,700 MT were down 29 percent from the previous week, but up 81percent from the prior 4-week average.  The destinations were to India (30,000 MT), Mexico (1,000 MT), Canada (600 MT), and Honduras
(100 MT).

Cotton: 
Net sales of 382,600 RB for 2021/2022 were up 2 percent from the previous week and 83 percent from the prior 4-week average.  Increases were primarily for China (147,700 RB), Turkey (96,100 RB), Vietnam (68,400 RB, including 200 RB switched from Japan), Pakistan
(25,300 RB), and Thailand (11,700 RB).  Net sales of 18,100 RB for 2022/2023 primarily for Pakistan (15,000 RB), were offset by reductions for China (1,200 RB).  Exports of 114,800 RB were up 61 percent from the previous week and 37 percent from the prior
4-week average.  The destinations were primarily to China (32,400 RB), Mexico (16,000 RB), Turkey (10,200 RB), Peru (7,900 RB), and Indonesia (7,700 RB).  Net sales of Pima totaling 7,100 RB were up 10 percent from the previous week, but down 45 percent from
the prior 4-week average.  Increases were primarily for Vietnam (3,500 RB), Pakistan (1,300 RB), India (500 RB), China (400 RB, including decreases of 900 RB), and Thailand (400 RB).  Total net sales of 900 RB for 2022/2023 were for Egypt.  Exports of 8,700
RB were up noticeably from the previous week and up 41 percent from the prior 4-week average.  The destinations were to India (3,600 RB), China (1,900 RB), Pakistan (1,500 RB), Egypt (1,300 RB), and Thailand (400 RB).

Optional
Origin Sales: 
For 2021/2022, the current outstanding balance of 8,800 RB is for Pakistan.

Exports
for Own Account: 
For 2021/2022, the current exports for own account outstanding balance of 100 RB is for Vietnam. 

Hides
and Skins: 
Net sales of 280,300 pieces for 2021 were down 16 percent from the previous week and 42 percent from the prior 4-week average.  Increases primarily for China (159,100 whole cattle hides, including decreases of 6,200 pieces), South Korea (56,000 whole cattle
hides, including decreases of 1,400 pieces), Brazil (24,300 whole cattle hides), Thailand (18,900 whole cattle hides, including decrease of 600 pieces), and Mexico (10,800 whole cattle hides, including decreases of 3,700 pieces), were offset by reductions
for Indonesia (300 pieces).  Total net sales reductions of 100-kip skins were for Belgium.  Net sales of 15,200 pieces for 2022 were reported for China (8,400 whole cattle hides), Taiwan (3,600 whole cattle hides), and Mexico (3,200 whole cattle hides).  Exports
of 373,700 pieces were unchanged from the previous week and from the prior 4-week average.  Whole cattle hide exports were primarily to China (277,600 pieces), South Korea (40,300 pieces), Mexico (21,600 pieces), Thailand (9,700 pieces), and Taiwan (7,400
pieces).  In addition, exports of 2,700 kip skins were to Belgium.

Net
sales of 48,000 wet blues for 2021 were down 67 percent from the previous week and 47 percent from the prior 4-week average.  Increases were primarily for Vietnam (17,900 unsplit, including decreases of 100 unsplit), China (9,400 unsplit), Mexico (8,800 grain
splits), Thailand (8,000 unsplit), and Italy (2,000 unsplit, 1,900 grain splits, and decreases of 400 unsplit).  Total net sales of 16,700 wet blues for 2022 were reported for Italy.  In addition, net sales 8,400 wet blues resulting in increases for Taiwan
(10,800 unsplit), were offset by reductions for Italy (2,400 unsplit).  Exports of 103,900 wet blues were down 23 percent from the previous week and 13 percent from the prior 4-week average.  The destinations were to China (40,100 unsplit), Italy (36,600 unsplit
and 1,600 grain splits), Vietnam (18,000 unsplit), Mexico (4,300 grain splits and 1,700 unsplit), and Brazil (1,600 grain splits). 
No
net sales of splits were reported for the week.  Exports of 122,200 pounds were to Vietnam (80,000 pounds) and China (42,200 pounds).

Beef: 
Net sales of 4,200 MT for 2021–a marketing-year low–were down 80 percent from the previous week and 81 percent from the prior 4-week average.  Increases primarily for Canada (2,100 MT), China (2,000 MT, including decreases of 300 MT), Japan (1,800 MT, including
decreases of 400 MT), Taiwan (700 MT, including decreases of 100 MT), and Mexico (700 MT, including decreases of 200 MT), were offset by reductions for South Korea (4,300 MT).  Net sales of 10,400 MT for 2022 were primarily for South Korea (8,200 MT), Taiwan
(500 MT), Mexico (400 MT), Japan (300 MT), and China (300 MT).  Exports of 16,700 MT were up 1 percent from the previous week, but down 5 percent from the prior 4-week average.  The destinations were primarily to South Korea (4,400 MT), Japan (4,000 MT), China
(3,300 MT), Taiwan (1,600 MT), and Mexico (1,200 MT). 

Pork: 
Net sales of 19,800 MT for 2021 were down 52 percent from the previous week and 26 percent from the prior 4-week average.  Increases primarily for Mexico (11,700 MT, including decreases of 600 MT), Japan (3,700 MT, including decreases of 400 MT), South Korea
(1,400 MT, including decreases of 200 MT), the Dominican Republic (700 MT, including decreases of 400 MT), and Colombia (500 MT, including decreases of 100 MT), were offset by reductions for Australia (200 MT), China (100 MT), and Peru (100 MT).  Net sales
of 700 MT for 2022 primarily for Colombia (400 MT), Japan (300 MT), Australia (200 MT), and South Korea (100 MT), were offset by reductions for Canada (300 MT).  Exports of 33,500 MT were down 8 percent from the previous week, but up 2 percent from the prior
4-week average.t  The destinations were primarily to Mexico (17,000 MT), Japan (5,000 MT), China (3,600 MT), South Korea (2,900 MT), and Colombia (1,500 MT).