Ag Exports:   Another huge week for soybeans, corn & beef

Wheat:  Net sales of 367,500 metric tons (MT) for 2020/2021 were down 31 percent from the previous week and 23 percent from the prior 4-week average.  Increases primarily for Mexico (192,800 MT), Nigeria (60,600 MT), the Philippines (60,000 MT), Guatemala (38,700 MT, switched from unknown destinations), and Japan (34,600 MT, including decreases of 300 MT), were offset by reductions primarily for unknown destinations (95,500 MT).  Exports of 192,100 MT were down 62 percent from the previous week and 67 percent from the prior 4-week average.  The destinations were primarily to Indonesia (55,300 MT), Malaysia (40,800 MT), Japan (33,000 MT), Venezuela (25,100 MT), and Mexico (22,900 MT).  

Optional Origin Sales:  For 2020/2021, the current outstanding balance of 10,000 MT, all Spain.

Corn:
  Net sales of 1,831,600 MT for 2020/2021 were up noticeably from the previous week and up 21 percent from the prior 4-week average.  Increases primarily for Japan (490,100 MT, including 162,800 MT switched from unknown destinations and decreases of 10,000 MT), China (433,500 MT), Mexico (377,400 MT, including decreases of 35,400 MT), Taiwan (179,800 MT), and Israel (157,500 MT), were offset by reductions for unknown destinations (55,500 MT).  Exports of 898,000 MT were up 10 percent from the previous week and 7 percent from the prior 4-week average.  The destinations were primarily to China (364,000 MT), Mexico (168,300 MT), Japan (165,900 MT), Saudi Arabia (70,200 MT), and Colombia (55,000 MT).  

Optional Origin Sales:  For 2020/2021, new optional origin sales of 30,000 MT were reported for Ukraine.  The current outstanding balance of 834,800 MT is for Vietnam (260,000 MT), Taiwan (204,200 MT), Argentina (127,000 MT), Ukraine (125,000 MT), South Korea (65,000 MT), and unknown destinations (53,600 MT).

Late Reporting:  For 2020/2021, exports totaling 7,100 MT were reported late.  The destination was Jamaica.  

Barley:  No net sales were reported for the week.  Exports of 200 MT were to South Korea.

Sorghum:  Net sales of 280,800 MT for 2020/2021 resulted in increases for China (195,800 MT) and unknown destinations (85,000 MT).  Exports of 70,100 MT were to China.  

Rice:  Net sales of 60,900 MT for 2020/2021 were up noticeably from the previous week, but down 45 percent from the prior 4-week average.  Increases primarily for Colombia (21,900 MT), Japan (13,000 MT), Guatemala (10,000 MT), Jordan (4,000 MT), and Saudi Arabia (3,700 MT), were offset by reductions for New Zealand (800 MT).  Exports of 84,600 MT--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average.  The destinations were primarily to Mexico (52,300 MT), Haiti (15,200 MT), Saudi Arabia (5,400 MT), Canada (4,900 MT), and South Korea (2,500 MT).

Soybeans:  Net sales of 2,225,500 MT for 2020/2021 were down 14 percent from the previous week and 18 percent from the prior 4-week average.  Increases primarily for China (1,222,000 MT, including 395,000 MT switched from unknown destinations and decreases of 6,600 MT), Egypt (194,400 MT, including 55,000 MT switched from China), unknown destinations (185,100 MT), Germany (111,300 MT), and Mexico (105,700 MT, including decreases of 2,400 MT), were offset by reductions primarily for the Netherlands (20,000 MT).  Exports of 2,516,500 MT were up 8 percent from the previous week and 49 percent from the prior 4-week average.  The destinations were primarily to China (1,960,200 MT, including 71,400 MT late – see below), Egypt (126,400 MT), Germany (111,300 MT), Mexico (59,700 MT), and Saudi Arabia (53,800 MT).  

Optional Origin Sales:
  For 2020/2021, the current outstanding balance of 126,000 MT, all China.

Exports for Own Account:  For 2020/2021, the current exports for own account outstanding balance is 7,300 MT, all Canada.

Export Adjustments: Accumulated export of soybeans to the Netherland were adjusted down 56,666 MT for week ending October 1st and 54,630 MT for week ending October 8th.  The correct destination for these shipments is Germany and is included in this week’s report.

Late Reporting:  For 2020/2021, exports totaling 71,400 MT were reported late.  The destination was China.  

Soybean Cake and Meal:  Net sales of 321,900 MT for 2020/2021 primarily for Mexico (127,800 MT, including decreases of 500 MT), the Dominican Republic (36,700 MT, including decreases 200 MT), unknown destinations (32,000 MT), Colombia (31,300 MT), and China (20,000 MT), were offset by reductions for Belgium (600 MT), Nepal (500 MT), Nicaragua (300 MT), and South Korea (100 MT).  Exports of 90,800 MT were primarily to Mexico (35,500 MT), Canada (18,700 MT), Morocco (7,700 MT), Jamaica (6,600 MT), and Costa Rica (5,700 MT).  

Soybean Oil:  Net sales of 37,000 MT for 2020/2021 were primarily for China (11,000 MT), the Dominican Republic (8,600 MT), Venezuela (8,000 MT), South Korea (4,000 MT), and Nicaragua (2,000 MT).  For 2021/2022, total net sales reductions of 200 MT were for Canada.  Exports of 3,100 MT were primarily to Mexico (1,600 MT) and Canada (1,500 MT).  

Cotton:  Net sales of 227,800 RB for 2020/2021 were up noticeably from the previous week and up 51 percent from the prior 4-week average.  Increases primarily for Pakistan (93,300 RB, including 800 RB switched from Indonesia), China (47,500 RB, including decreases of 10,600 RB), Mexico (33,800 RB), Vietnam (30,100 RB, including 1,100 RB switched from China and decreases of 100 RB), and Bangladesh (9,000 RB), were offset by reductions primarily for Japan (1,000 RB) and Indonesia (800 RB).  For 2021/2022, net sales of 21,300 RB were for China (17,200 RB) and Mexico (4,100 RB).  Exports of 194,100 RB were up 1 percent from the previous week, but down 7 percent from the prior 4-week average.  Exports were primarily to China (95,500 RB), Pakistan (29,100 RB), Vietnam (16,200 RB), Indonesia (12,600 RB), and Bangladesh (12,000 RB).  Net sales of Pima totaling 29,600 RB--a marketing-year high--were up 66 percent from the previous week and 53 percent from the prior 4-week average.  Increases were primarily for China (9,800 RB), India (5,700 RB, including decreases of 100 RB), Pakistan (3,900 RB), Bangladesh (3,800 RB), and Turkey (1,300 RB).  Exports of 7,400 RB were down 41 percent from the previous week and 43 percent from the prior 4-week average.  The destinations were primarily to India (3,400 RB), Peru (1,800 RB), China (1,100 RB), Bangladesh (600 RB), and Germany (200 RB). 

Beef:  Net sales of 21,700 MT reported for 2020 were up 62 percent from the previous week and 13 percent from the prior 4-week average.  Increases primarily for South Korea (5,400 MT, including decreases of 400 MT), China (3,700 MT), Japan (3,600 MT, including decreases of 600 MT), Mexico (2,800 MT), and Hong Kong (2,600 MT, including decreases of 200 MT), were offset by reductions for Chile (100 MT).  For 2021, net sales of 2,600 MT resulting in increases for Japan (1,400 MT) and South Korea (1,300 MT), were offset by reductions for Hong Kong (200 MT).  Exports of 17,800 MT were up 10 percent from the previous week and 6 percent from the prior 4-week average.  The destinations were primarily to Japan (4,500 MT), South Korea (4,200 MT), China (2,000 MT), Mexico (1,600 MT), and Hong Kong (1,500 MT). 

Pork:  Net sales of 26,800 MT reported for 2020 were unchanged from the previous week, but down 35 percent from the prior 4-week average.  Increases primarily for Mexico (13,800 MT, including decreases of 800 MT), Japan (4,900 MT, including decreases of 200 MT), China (1,800 MT, including decreases of 1,500 MT), South Korea (1,500 MT, including decreases of 500 MT), and Colombia (1,000 MT), were offset by reductions for Vietnam (100 MT).  For 2021, net sales of 800 MT were primarily for New Zealand (400 MT), Australia (300 MT), and Mexico (100 MT).  Exports of 36,600 MT were up 2 percent from the previous week and 4 percent from the prior 4-week average.  The destinations were primarily to China (12,500 MT), Mexico (11,100 MT), Japan (4,300 MT), Canada (2,500 MT), and South Korea (1,500 MT).  

NBW Reports

Beef Balance Sheet

CATTLE FLASH 

Cattle Inventory By State: This Year vs. Last Year
Cattle Inventory Highlights
Cattle Inventory:  Ranking Of States With The Most Cattle
Cattle on Feed
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Cold Storage

Corn Balance Sheet

Corn Progress By State
Estimated Weekly Meat Production
Export Sales Highlights
Farms and Land in Farms Highlights
Livestock Comments
Livestock Slaughter
Livestock, Dairy & Poultry Outlook
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National Drought Monitor
National Feeder Cattle Report
National Grain Report
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Price Projections For Steers, Hogs, Milk

Protein Production Estimates
Ranking Of States With The Largest Farms
Ranking Of States With The Most Farms
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Red Meat By Production By State

Soybean Balance Sheet
Today's Weather

Top 25:  Largest Steer & Heifer Strings Sold Today
United States Ag Production Report
USDA Grain Stocks Report
USDA Prospective Plantings Report
WASDE: Feed Grain Outlook
WASDE: Livestock, Dairy & Poultry Outlook
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WASDE: Wheat Outlook

Wheat Balance Sheet



Rob Cook, RobCookKC@gmail.com