Corn huge!  Was that expected?

Beans....ugly.

Weekly Highlights (usda.gov)

This summary is based on reports from exporters for the period March 12 - 18, 2021.

Wheat:  Net sales of 343,600 metric tons (MT) for 2020/2021 were down 12 percent from the previous week, but up 24 percent from the prior 4-week average.Increases primarily for Japan (118,800 MT), South Korea (116,400 MT, including decreases of 500 MT and 65,000 MT late), China (76,300 MT, including 65,000 MT switched from unknown destinations), Algeria (63,700 MT, including 35,000 MT switched from unknown destinations and decreases of 1,300 MT), and Bangladesh (61,600 MT, including 57,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (215,200 MT).For 2021/2022, net sales of 70,500 MT were reported for the Philippines (58,000 MT), Mexico (10,000 MT), unknown destinations (2,000 MT), and Colombia (500 MT).Exports of 658,800 MT were unchanged from the previous week, but up 37 percent from the prior 4-week average.The destinations were primarily to Bangladesh (116,600 MT), Japan (81,500 MT), Algeria (73,700 MT), China (70,300 MT), and Mexico (64,300 MT).

Optional Origin Sales:For 2020/2021, decreases totaling 10,000 MT were reported for Spain.

Late Reporting:For 2020/2021, net sales totaling 65,000 MT of white wheat was reported late for South Korea.

Corn:  Net sales of 4,481,900 MT for 2020/2021 were up noticeably from the previous week and from the prior 4-week average.Increases primarily for China (3,890,600 MT), South Korea (353,300 MT, including 125,000 MT switched from unknown destinations, decreases of 31,000 MT, and 66,000 MT late), Mexico (196,000 MT, including 13,000 MT switched from unknown destinations and decreases of 29,600 MT), Colombia (131,100 MT, including 93,300 MT switched from unknown destinations and decreases of 9,500 MT), and Indonesia (75,000 MT, including 66,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (461,800 MT).For 2021/2022, net sales of 144,600 MT were reported for Mexico (90,000 MT), unknown destinations (50,000 MT), and Japan (4,600 MT).Exports of 2,036,000 MT were down 7 percent from the previous week, but up 17 percent from the prior 4-week average.The destinations were primarily to Mexico (470,200 MT), China (418,100 MT), South Korea (349,300 MT), Japan (197,300 MT), and Colombia (146,300 MT).

Optional Origin Sales:For 2020/2021, options were exercised to export 189,000 MT to South Korea from the United States.The current outstanding balance of 890,400 MT is for South Korea (549,000 MT), unknown destinations (244,000 MT), China (65,000 MT), and the Ukraine (32,400 MT).

Late Reporting:For 2020/2021, net sales totaling 66,000 MT were reported late for South Korea.

Barley:For 2020/2021, net sales reductions of 4,700 MT resulting in increases primarily for South Korea (1,000 MT), were offset set by reductions for Japan (5,700 MT).For 2021/2022, total net sales of 5,700 MT were for Japan.Export of 700 MT were primarily to Japan (300 MT) and Canada (300 MT).

Sorghum:  For 2020/2021, net sales of 60,800 MT were primarily for China (60,500 MT).Exports of 71,000 MT were down 80 percent from the previous week and 53 percent from the prior 4-week average.  The destination was primarily to China.

Rice:Net sales of 53,700 MT for 2020/2021 were down 52 percent from the previous week and 32 percent from the prior 4-week average.Increases were primarily for Mexico (30,300 MT, including decreases of 200 MT), Japan (12,000 MT), Saudi Arabia (4,300 MT), Canada (2,000 MT), and Guatemala (2,000 MT).Exports of 21,900 MT were down 76 percent from the previous week and 74 percent from the prior 4-week average.The destinations were primarily to Mexico (10,500 MT), Canada (3,600 MT), Saudi Arabia (2,000 MT), Taiwan (900 MT), and Belgium (900 MT).

Soybeans:Net sales of 101,800 MT for 2020/2021 were down 50 percent from the previous week and 56 percent from the prior 4-week average.Increases primarily for Egypt (109,700 MT, including 55,000 MT switched from unknown destinations and decreases of 4,600 MT),Indonesia (63,100 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT), Mexico (50,600 MT, including 47,500 MT switched from unknown destinations and decreases of 1,000 MT), Japan (9,600 MT), and Malaysia (4,800 MT, including decreases of 200 MT), were offset by reductions primarily for unknown destinations (152,500 MT).For 2021/2022, total net sales of 65,000 MT were reported for unknown destinations.Exports of 501,400 MT were down 6 percent from the previous week and 40 percent from the prior 4-week average.The destinations were primarily to Egypt (164,700 MT), Mexico (145,100 MT), Indonesia (79,600 MT), Japan (35,200 MT), and Taiwan (28,600 MT).

Exports for Own Account:The current exports for own account outstanding balance is 5,800 MT, all Canada.

Soybean Cake and Meal:Net sales of 167,800 MT for 2020/2021 were down 29 percent from the previous week and 20 percent from the prior 4-week average.Increases primarily for Mexico (60,800 MT), Ecuador (45,000 MT), Colombia (17,600 MT, including 10,000 MT switched from unknown destinations and 4,100 MT switched from Panama), Guatemala (12,900 MT, including 4,900 MT switched from Honduras, 4,500 MT switched from Costa Rica, and decreases of 100 MT), and Canada (11,500 MT, including decreases of 200 MT), were offset by reductions primarily for Honduras (10,000 MT) and unknown destinations (10,000 MT).For 2021/2022, net sales of 17,200 MT were reported for Mexico (16,900 MT) and Canada (300 MT).Exports of 281,600 MT were up 14 percent from the previous week and 7 percent from the prior 4-week average.The destinations were primarily to the Philippines (99,300 MT), Mexico (59,800 MT), Colombia (37,100 MT), Canada (26,900 MT), and the Dominican Republic (13,100 MT).

Soybean Oil:Net sales of 13,200 MT for 2020/2021 were down 31 percent from the previous week, but up 56 percent from the prior 4-week average.Increases were primarily for Venezuela (5,000 MT), the Dominican Republic (4,000 MT), Guatemala (2,700 MT), Canada (900 MT), and Mexico (500 MT).Exports of 12,100 MT were up 53 percent from the previous week, but down 58 percent from the prior 4-week average.The destinations were primarily to Guatemala (7,000 MT), Jamaica (3,500 MT), Mexico (800 MT), and Canada (600 MT).

Cotton:Net sales of 271,200 RB for 2020/2021 were down 38 percent from the previous week, but up 2 percent from the prior 4-week average.Increases primarily for Vietnam (135,500 RB, including 2,200 RB switched from China, 1,100 RB switched from Japan, and 1,100 RB switched from South Korea), Turkey (77,000 RB, including decreases of 200 RB), Pakistan (22,200 RB, including 2,900 RB switched from the United Arab Emirates), Peru (14,900 RB), and Bangladesh (7,100 RB), were offset by reductions primarily for the United Arab Emirates (2,900 RB) and China (1,800 RB).For 2021/2022, net sales of 69,400 RB were primarily for China (41,400 RB), Pakistan (8,800 RB), South Korea (7,900 RB), Honduras (3,100 RB), and Turkey (2,600 RB).Exports of 313,500 RB were down 11 percent from the previous week and 9 percent from the prior 4-week average.Exports were primarily to China (62,300 RB), Pakistan (51,400 RB), Bangladesh (42,200 RB), Vietnam (40,800 RB), and Turkey (36,700 RB).Net sales of Pima totaling 7,000 RB were unchanged from the previous week, but down 29 percent from the prior 4-week average.Increases were primarily for India (3,100 RB), Austria (1,300 RB), Honduras (1,300 RB), Bangladesh (700 RB), and Pakistan (400 RB).Exports of 9,300 RB were down 10 percent from the previous week and 33 percent from the prior 4-week average.The destinations were primarily to India (2,900 RB), China (1,800 RB), Pakistan (1,000 RB), Thailand (900 RB), and Peru (900 RB).

Exports for Own Account:For 2020/2021, new exports for own account totaling 1,100 RB were to Vietnam.Exports for own account totaling 3,600 RB to China (2,100 RB) and Vietnam (1,500 RB) were applied to new or outstanding sales.The current exports for own account outstanding balance of 34,400 RB is for China (25,200 RB), Vietnam (8,800 RB), and Bangladesh (400 RB).

Hides and Skins:Net sales of 560,000 pieces for 2021 were unchanged from the previous week and up 36 percent from the prior 4-week average.Increases were primarily for China (418,600 whole cattle hides, including decreases of 23,000 pieces), South Korea (62,000 whole cattle hides, including decreases of 1,500 pieces), Indonesia (29,200 whole cattle hides, including decreases of 400 pieces), Mexico (21,000 whole cattle hides, including decreases of 500 pieces), and Thailand (15,300 whole cattle hides, including decreases of 300 pieces).In addition, total net sales reductions of 800 kip skins were for Belgium.Exports of 378,700 pieces for 2021 were up 4 percent from the previous week and from the prior 4-week average.Whole cattle hides exports were primarily to China (250,300 pieces), South Korea (52,300 pieces), Mexico (32,500 pieces), Thailand (18,900 pieces), and Taiwan (12,600 pieces).

Net sales of 220,600 wet blues for 2021 were up noticeably from the previous week and from the prior 4-week average.Increases were primarily for China (68,700 unsplit, including decreases of 400 unsplit), Vietnam (53,600 unsplit), Thailand (45,700 unsplit, including decreases of 300 unsplit), Italy (28,900 unsplit, including decreases of 100 unsplit), and the Dominican Republic (9,600 unsplit).Exports of 100,500 wet blues for 2021 were up 1 percent from the previous week and 8 percent from the prior 4-week average.The destinations were primarily to China (31,000 unsplit), Italy (19,800 unsplit), Vietnam (17,700 unsplit), Mexico (12,500 grain splits and 3,400 unsplit), and Thailand (8,200 unsplit).Net sales of 202,300 splits resulting in increases for Taiwan (128,200 pounds, including decreases of 1,600 pounds), Vietnam (40,700 pounds, including decreases of 4,000 pounds), and Italy (34,200 pounds, including decreases of 11,200 pounds), were offset by reductions for China (800 pounds).Exports of 408,200 pounds were to Vietnam (237,600 pounds), Italy (86,700 pounds), China (42,200 pounds), and Taiwan (41,700 pounds).

Beef:Net sales of 18,900 MT reported for 2021 were down 27 percent from the previous week and 3 percent from the prior 4-week average.Increases were primarily for Japan (5,800 MT, including decreases of 600 MT), South Korea (4,400 MT, including decreases of 500 MT), China (3,600 MT, including decreases of 100 MT), Taiwan (1,600 MT, including decreases of 200 MT), and Chile (800 MT).Exports of 18,500 MT were up 4 percent from the previous week and 5 percent from the prior 4-week average.The destinations were primarily to Japan (5,700 MT), South Korea (4,400 MT), China (3,200 MT), Taiwan (1,300 MT), and Mexico (1,300 MT).

Pork:Net sales of 38,700 MT reported for 2021 were down 3 percent from the previous week and 2 percent from the prior 4-week average.Increases primarily for Mexico (17,300 MT, including decreases of 400 MT), China (10,500 MT, including decreases of 1,000 MT), Japan (3,000 MT, including decreases of 400 MT), Canada (2,700 MT, including decreases of 300 MT), and South Korea (2,200 MT, including decreases of 1,300 MT), were offset by reductions primarily for Australia (100 MT).Exports of 38,500 MT were down 5 percent from the previous week and 1 percent from the prior 4-week average.The destinations were primarily to China (12,000 MT), Mexico (9,600 MT), Japan (4,800 MT), the Philippines (2,300 MT), and South Korea (2,300 MT).