Correction: FI Morning Grain Comments 09/17/20

includes correct attachment

 

Morning. 

 

Lower
trade but don’t discount a two-sided session.  Soybeans hit a two-year high yesterday on Chinese demand.  Corn hit a 6-month high.  Wheat, nearing a 3-week low earlier this week, is seeing some fund buying.  News was light overnight.  Tunisia seeks additional
wheat. Japan bought milling wheat and Saudi Arabia seeks 540,000 tons of barley.  South Korea bought 38,300 tons of wheat.  USD was up 4 points earlier and WTI crude oil down about $0.27.
  US
equities are pointing to a lower start. 

 

 

 

Weather
and Crop Progress

 

TROPICAL
COMMENTS

• Tropical
  Disturbance in the western Gulf of Mexico will likely become the next tropical depression and it may threaten Mexico and/or the United States during the weekend or next week
• Most
  forecast models have the storm meandering around in the western Gulf of Mexico For days before threatening land

 

• Tropical
  Storm Sally diminished to depression status overnight and was nearing the Alabama/central west Georgia border this morning
• The
  storm center was 50 miles southeast of Montgomery, Alabama
• Sally
  will move across central Georgia and into the Carolinas today and Friday while slowly diminishing further
• Additional
  rainfall of 1.00 to 4.00 inches and locally more (to 6.00 inches) is expected which may cause localized flooding, but the storm’s greatest wind and rain have diminished enough to minimize the risk of damage

 

• Sally
  has damaged crops and property across the western Florida Panhandle and in southern Alabama, but the assessments are incomplete and it will be a few days before the extent of the damage is known
• Rain
  totals of 10 to more than 20 inches occurred in in the Florida Panhandle while amounts of 4.00 to 10.00 inches occurred northward into southern Alabama mostly along the Interstate 65 corridor and east to the Georgia border
• These
  areas also experienced the strongest wind speed of 40-60 mph
• Some
  higher wind speeds occurred near the Mobile Bay area of Alabama where speeds of 60 to 100 mph occurred as the storm came inland

 

• Hurricane
  Paulette lost its topical characteristics over open water in the northern Atlantic Ocean Wednesday

 

• Tropical
  Storm Vicky was expected to dissipate by Saturday over open water in the central Atlantic Ocean

 

• Hurricane
  Teddy, however, was expected to become a Category 3 hurricane equivalent storm over open water in the central Atlantic Ocean later today and Friday before moving toward Bermuda during the weekend
• Teddy
  may pass very near or slightly to the east of Bermuda early next week as a Category 2 storm after that the storm may threaten Nova Scotia and Newfoundland, Canada with heavy rain and high wind speeds

 

• A
  tropical wave south southwest of the Cabo Verde Islands will move toward the Leeward Islands in the Atlantic Ocean over the next several days
• This
  system may become a tropical depression, but there is not much support for a stronger storm as the environment it moves into this weekend becomes a little hostile for further development

 

• Tropical
  Storm Noul is still moving toward central Vietnam, but the system is no longer advertised to reach typhoon status and that may help the system have a lower impact from central Vietnam to northeastern Thailand
• The
  system will stay north of the key Central Highlands production region, although some rain from the storm will impact a part of coffee country without damage
• Landfall
  is expected around 0600 GMT Friday to the north of Hue, Vietnam
• Torrentially
  rain and flooding will accompany the storm inland
• Crop
  damage will be low because the area impacted is not a very important rice production area

 

• Tropical
  Disturbance well south of Hawaii has some potential to develop into a tropical cyclone over the next few days, but it will move west northwesterly and stay far to the south of the Hawaiian Islands

 

• Tropical
  Depression Karina was dissipating over open water well to the west of Mexico today

 

 

 

OTHER
WORLD WEATHER ISSUES

 

• Dryness
  continues to threaten winter crop planting and establishment in the drier areas of southeastern Europe, central and eastern Ukraine, western Kazakhstan and parts of Russia’s Southern Region
• No
  relief from drought will occur in these areas for another ten days, but conditions may begin to improve in early October

 

• France,
  the United Kingdom, Spain and Portugal will receive rain this weekend and during much of next week resulting in some improved topsoil moisture
• More
  rain will be needed, but the precipitation will help to improve pre-planting and early planting moisture for autumn crops

 

• Germany
  will receive some rain in the second half of next week and that will help ease recent drying
• Parts
  of Italy will also receive rain during mid- to late-week next week and some of this moisture may begin to push into southeastern Europe during the second weekend of the two week outlook

 

• Western
  portions of Western Australia will receive some rain during mid- to late-week next week, but interior crop areas may not get much moisture for a while
• Net
  drying in northern parts of Western Australia’s wheat and barley production region may be cutting into yields as reproduction is under way
• Southern
  and western crop areas will get just enough moisture to maintain a good production outlook

 

• Australia’s
  crop areas from South Australia to Queensland, New South Wales and Victoria will get needed rain by Sunday and sufficient amounts will occur to support better winter crop conditions
• Additional
  rain will still be needed to restore soil moisture after prolonged drought in South Australia, Queensland and some western and northern New South Wales crop areas, but crops will certainly benefit from the moisture

 

• South
  Africa still needs significant rain for its winter wheat, barley and canola crops, especially those in eastern production areas
• Not
  much rain is expected over the coming week, although a few sporadic showers are anticipated

 

• Argentina’s
  drought in the west will not be altered over the next week to ten days
• Rain
  is expected in northeastern parts of the nation benefiting future cotton, corn and sunseed planting and supporting a little citrus flowering
  
• Temperatures
  will be near average over the coming week and a little colder than usual in the last days of September

 

• Center
  West and southern parts of center south Brazil are advertised to receive scattered showers and thunderstorms Sep. 20-23 with some follow up rain periodically into the end of this month
• The
  precipitation might eventually help lift topsoil moisture for “some” early season soybean planting, but much more rain will be needed
• Coffee
  and citrus flowering “may” occur in a few areas from northeastern Sao Paulo into southern Minas Gerais and Rio de Janeiro while sugarcane and early corn experience a moisture boost to improve crop development; however, most of the region will fail to get quite
  enough moisture to make big changes in crop or soil conditions without follow up moisture

 

• Southern
  Brazil rice, corn and wheat areas will get periodic rainfall through the next two weeks
• Crop
  and field conditions will either improve or continue good through the end of this month

 

• China
  rain Wednesday became widespread again in the Northeast Provinces reversing the drying trend of the past few days
• Rain
  totals varied from 0.20 to 1.00 inch with one amount of 1.69 inches
• Most
  of the Yellow River Basin and North China Plain was left dry
• Rain
  fell significantly again in the Yangtze River Basin where amounts ranged from 1.00 to 4.00 inches and local totals to 6.00 inches
• Net
  drying occurred in the southern coastal provinces

 

• China
  rainfall the past three days from extreme southeastern Sichuan and Guizhou through southeastern Hebei to parts of southern Anhui has ranged from 4.00 to 13.31 inches resulting in some flooding once again

 

• China
  weather over the next two weeks
• Rain
  will continue to impact portions of Heilongjiang and Jilin frequently over the next week to ten days resulting in further delays to crop maturation and harvesting through the balance of this month; some crop quality declines are expected to continue especially
  for soybean, rice and some groundnuts
• A
  good mix of rain and sunshine will impact the middle and lower Yellow River Basin and portions of the North China Plain over the next ten days resulting in relatively good summer crop maturation and harvest conditions while improving future wheat planting
  potentials
• Rain
  will fall frequently in the Yangtze River Basin and southern coastal provinces as well as Yunnan and Guangxi during the next two weeks to maintain soggy field conditions
• The
  wettest conditions will shift south of the Yangtze River reducing the risk of more serious flooding in the Yangtze River Basin once again
• Much
  of eastern China needs to dry down in support of summer crop maturation and harvesting as well as support for winter crop planting that occurs from late this month through October and into November

 

• Xinjiang,
  China weather will continue favorable for cotton and other crop maturation and early harvest progress
• Alternating
  periods of warm and cool weather will occur through the next ten days with restricted rainfall expected
• The
  environment will support crop maturation, leaf defoliation and early harvesting
• High
  temperatures Wednesday were in the 70s Fahrenheit northeast and 80s southwest followed by lows today in the upper 40s and 50s

 

• India
  weather over the next two weeks will continue wettest in central, southern and far eastern parts of the nation while net drying occurs in the north
• Monsoonal
  precipitation will continue without much withdrawal through early next week, but a more significant withdrawing trend is expected in the last week of September and early October improving crop maturation conditions in central parts of the nation
  
• Weather
  conditions in most of India are still favorable, but drying is needed in Gujarat and that may not come for another week

 

• U.S.
  weather over the next ten days
• Favorable
  summer crop maturation and harvest weather is expected due to restricted rainfall and mild to warm temperatures for the next ten days including the Midwest Corn and Soybean Belt
• Southeastern
  U.S. rainfall will be winding down after today and Friday with a developing drier bias expected during the weekend and during much of next week
• The
  change will result in better conditions for summer crops not seriously impacted by Tropical Cyclone Sally
• U.S.
  hard red winter wheat areas will receive limited rainfall which may be good for summer crop maturation and harvest progress
• Wheat
  planting and emergence will continue, although there is need for greater rain to induce better emergence and establishment in the driest areas
• The
  bulk of additional planting will occur in October
• West
  Texas rainfall will be limited enough to support favorable crop maturation
  
• Northern
  Plains will receive restricted rainfall and experience warm temperatures favoring a good crop maturation and harvest environment

 

• U.S.
  temperatures will slip to the frost and freeze threshold in the upper Midwest and northern Great Lakes region late this week again tonight with lows in the 30s Fahrenheit and with a few colder readings near the Canada border
• Some
  extreme lows in the upper 20s occurred this morning in northern Minnesota, but key crop areas in the Midwest were not experiencing temperatures nearly as cold
• Some
  frost and a few more light freezes will occur in northern Minnesota and the western Great Lakes region Friday morning
• Overall
  temperatures in the coming week will be warmer than usual from the central and northwestern Great Plains through most of the western states while near to below average farther to the east
• The
  coolest conditions relative to normal through the weekend will be in the eastern Midwest through the Atlantic Coast states
• Temperatures
  next week will be similar to those of this week, although a little warmer in the eastern Midwest and a little milder in the central Plains
• Some
  minor cooling is also expected in the Pacific Northwest and Rocky Mountain region

 

• U.S.
  NWS forecast for October suggests above average rainfall for most of the contiguous United States excepting the Pacific Northwest where there was an equal chance for above, below and near normal temperatures
• Rainfall
  for October was advertised to be lighter than usual in the central and southern Plains, southern Rocky Mountain region and from the lower Midwest into the Delta
• Wetter
  than usual conditions were advertised for Florida and in the Pacific Northwest

 

• US
  NWS Forecast for October through December was warmer than usual for the entire contiguous United States
• Precipitation
  was advertised to be below average from the southwestern desert region through the southern Rocky Mountain region and southern half of the Great Plains to the Delta and Alabama
• Precipitation
  was advertised to be greater than usual in the Pacific Northwest and much of Montana as well as northwestern Wyoming
• Other
  areas had equal chances for above, below and near normal precipitation

 

• West-central
  Africa will continue to experience periodic showers and thunderstorms over the next couple of weeks
• Additional
  improvement is expected to coffee, cocoa, rice and sugarcane production areas after rain fell significantly during the weekend
• The
  next wave of greatest rain will occur next week
• Cotton
  areas will also continue to receive some rain for a while longer
• All
  crops receiving rain will likely benefit from the moisture

 

• East
  central Africa rainfall has been and will continue to be erratic and mostly beneficial over the next ten days

 

• Canada
  Prairies will experience some weekend rain, but good harvest weather is expected prior to and after that period of time for a few days
• Additional
  rainfall is expected in the last week of this month
• Harvesting
  and crop maturation should advance relatively well during the period with only a few delays likely

 

• Mainland
  areas of Southeast Asia will experience periodic showers and thunderstorms over the next couple of weeks
  
• Late
  season moisture boosting is extremely important since water supply has not been fully restored from last year’s low levels
• Tropical
  Storm Noul will attempt to bring significant rain to the region from central Vietnam into northeastern Thailand Friday through Sunday

 

• Philippines
  rainfall increased recently from Tropical Storm Noul, but more rain is still needed in the Visayan Islands

 

• Improving
  rainfall in Indonesia and Malaysia is expected over the next two weeks with some heavy rain possible in random locations

 

• Ontario
  and Quebec rainfall will occur periodically over the next ten days alternating with periods of rain and sunshine
• Net
  drying is expected during much of this first week of the outlook
• Temperatures
  will be seasonable to slightly cooler than usual

 

• New
  Zealand rainfall will be above average on the west coast of South Island and below average elsewhere; temperatures will be near to below average

 

• Southern
  Oscillation Index was +10.24 today and it will stay significantly positive into next week

 

Source:
World Weather Inc. 

 

Bloomberg
Ag Calendar

THURSDAY,
Sept. 17:

• USDA
  weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
• USDA
  total milk production for August, 3pm
• Port
  of Rouen data on French grain exports
• Biosev
  SA 1Q 2021 earnings

FRIDAY,
Sept. 18:

• ICE
  Futures Europe weekly commitments of traders report, 1:30pm (6:30pm London)
• CFTC
  commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
• FranceAgriMer
  weekly update on crop conditions

Source:
Bloomberg and FI

 

 

 

 

 

Farm
Futures survey of U.S. planting intentions for 2021 (1,044 producers surveyed)

• Soybean
  plantings for 2021 were forecast at 87.9 million acres, up 4.9% 2020
• Corn
  plantings seen at 91.8 million acres, down 0.3%
• Winter
  wheat seedings seen at 31.3 million acres, up 2.3%
• Spring
  wheat plantings (excluding durum) seen at 11.6 million acres, down 4.8%

 

USDA
export sales

Good
sales posted again for the major commodities, although soybeans, corn, and wheat are down from the previous week.  Meal and oil shipments were ok.

 

 

Macros

US
Initial Jobless Claims Sep 12: 860K (est 850K; prevR 893K; prev 884K)

US
Continuing Claims Sep 5: 12628K (est 13000K; prevR 13544K; prev 13385K)

US
Philly Fed Business Outlook Sep: 15.0 (est 15.0; prev 17.2)

US
Housing Starts Aug: 1416K (est 1483K; prev 1496K)

US
Housing Starts (M/M) Aug:  -5.1% (est -0.9%; prev 22.6%)

US
Building Permits Aug: 1470K (est 1512K; prevR 1483K; prev 1495K)

US
Building Permits (M/M) Aug: -0.9% (est 2.0%; prevR 17.9%; prev 18.8%)

 

Corn.

• We
  see a two-sided trade today in corn and soybeans as traders figure out if China buying will continue at its current, robust pace.  
  USDA
  announced additional sales after the electronic pause.  News is light.
• China
  set their TRQ’s for 2021 at the same levels as this year of 7.2MMT for corn and 9.6MMT for wheat.
  
• Wheat
  quota set at 9.636m tons; 90% allocated to state-owned firms
• Corn
  quota at 7.2m tons, of which 60% is for state-owned companies
• Rice
  quota set at 5.32m tons, and 50% for state-owned entities
• Cotton
  quota at 894,000 tons, 33% for state-owned firms
• (Reuters)
  – The Trump administration is considering at least $300 million in cash aid to U.S. oil refiners that are denied exemptions to U.S. biofuel blending laws for the 2019 compliance year, two sources familiar with the matter said.
• The
  USDA weekly Broiler Report showed eggs set in the US up 2 percent and chicks placed down slightly.  Cumulative placements from the week ending January 4, 2020 through September 12, 2020 for the United States were 6.88 billion. Cumulative placements were down
  1 percent from the same period a year earlier.
• US
  ethanol production declined a large 15,000 barrels to 926,000 and stocks decreased 195,000 barrels to 19.798 million, down 1.084 million over the past two weeks.  The sentiment for corn is mixed now that ethanol stocks are lowest since Aug 7.  A Bloomberg
  poll looked for weekly US ethanol production to be up 1,000 and stocks to increase 345,000 barrels.  The 4-week average change for ethanol production is zero. 
  

 

Corn
Export Developments

• Under
  the 24-hour announcement system, USDA announced private exporters sold:

• Export
  sales of 120,000 tons of corn for delivery to unknown destinations during the 2020/2021 marketing year

 

Soybean
complex.

• Lower
  trade in soybean complex and corn.  CBOT November soybeans made fresh highs overnight
  but
  are setting back on light profit taking.  Traders are waiting for conformation China bought additional soybeans.  We heard they bought at least one cargo.  out of the Gulf for November/December shipment.
• USDA
  export sales were very good but down from the previous week.  China booked 1.5 million tons of soybeans including 264,000 tons switched from unknown. 
  

• Offshore
  values this morning were leading CBOT soybean oil 1 point lower and meal
  $3.00
  lower. 
• Rotterdam
  soybean oil values were about up 20-24 euros higher, rapeseed oil 15 higher in the benchmark positions, and Rotterdam meal 2-7 euros higher from this time previous session. 
  
• China
  cash crush margins as of this morning, using our calculation, were 85 cents per bushel (88 previous) and compares to 84 cents a week ago and 96 cents around this time last year.
  

• Malaysia
  back from on holiday. 

Futures
were up 67 MYR to 2975

 

 

Oilseeds
Export Developments

• Under
  the 24-hour announcement system, USDA announced private exporters sold:

• Export
  sales of 264,000 tons of soybeans for delivery to China during the 2020/2021 marketing year
• Export
  sales of 360,500 tons of soybeans for delivery to unknown destinations during the 2020/2021 marketing year.
• Today
  USDA CCC seeks 3,000 tons of vegetable oils for October 16-31 shipment. 

 

Wheat

• Wheat
  is lower on risk off trading. 
• Yesterday
  Egypt’s GASC bought 235,000 tons of Russian (175k) and Polish (60k) wheat. 
  
• Paris
  (Matif) December wheat was up 1.25 at 189.25 euros.
• Wheat,
  nearing a 3-week low earlier this week. 
• News
  was light overnight. 

 

Export
Developments.

• South Korea’s SPC group bought 38,000 tons of US and Canadian wheat for LF Jan shipment. 
  
• Saudi Arabia seeks 540,000 tons of barley on Sep 18 for Nov-Dec arrival. 
  
• Tunisia seeks 42,000 tons of soft milling wheat, 50,000 tons of durum and 75,000 tons of barley on Sep 18. 
  
• Jordan seeks 120,000 tons of wheat on September 23. 
  
• Japan bought 104,870 tons of food wheat.  Original details as follows:
  

• Iran seeks to export 700,000 tons of barley by Friday. 
  
• Ethiopia seeks about 80,000 tons of milling wheat on Sept. 30.
• Ethiopia seeks 400,000 tons of wheat by October 13.
  
• (new 9/15) Ethiopia seeks about 200,000 tons of milling wheat on October 15.

 

Rice/Other

• Results awaited: South Korea’s Agro-Fisheries & Food Trade Corp. seeks 113,999 tons of rice on Sep 16 for arrival in South Korea between
  Jan. 31, 2021, and June 30, 2021.
• Syria is in for 39,400 tons of white rice on September 30. 
  

 

Russian wheat 4^th grade

Source: Eikon and FI

 

U.S. EXPORT SALES FOR WEEK ENDING 9/10/2020                      

  

	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	59.4	1,705.7	1,370.8	209.8	3,210.4	3,277.8	0.0	10.9
SRW	32.3	478.3	627.4	71.6	639.7	923.3	0.3	1.3
HRS	42.4	1,794.9	1,686.1	79.3	2,052.9	1,719.5	0.0	5.0
WHITE	175.3	1,244.2	923.6	157.0	1,491.9	1,255.8	0.0	0.0
DURUM	26.3	236.8	312.5	46.3	277.9	196.3	0.0	0.0
TOTAL	335.7	5,459.9	4,920.3	564.0	7,672.8	7,372.6	0.3	17.2
BARLEY	0.0	30.8	44.5	0.0	8.4	12.9	0.0	0.0
CORN	1,609.2	19,308.4	7,785.4	902.0	1,147.7	869.5	0.0	206.0
SORGHUM	121.5	2,464.2	37.7	72.4	105.4	31.8	0.0	0.0
SOYBEANS	2,457.1	30,084.0	10,059.4	1,732.8	2,259.0	1,121.5	0.0	60.0
SOY MEAL	-105.4	752.1	1,208.8	228.7	11,328.0	10,969.3	197.3	2,067.9
SOY OIL	0.1	101.1	130.9	20.8	1,175.9	787.8	0.0	102.0
RICE
L G RGH	44.8	230.6	388.9	1.1	51.8	204.3	0.0	0.0
M S RGH	0.0	27.4	26.5	0.0	1.5	4.3	0.0	0.0
L G BRN	1.2	8.1	10.0	1.5	4.1	2.4	0.0	0.0
M&S BR	0.1	19.1	0.1	0.1	13.9	0.5	0.0	0.0
L G MLD	22.7	73.2	229.1	18.0	38.1	133.6	0.0	0.0
M S MLD	10.0	49.4	68.3	3.2	56.0	85.3	0.0	0.0
TOTAL	78.7	407.8	722.9	23.8	165.5	430.3	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	519.6	5,959.6	6,981.8	187.9	1,669.9	1,425.4	0.0	399.5
PIMA	28.0	207.0	124.8	16.5	63.6	49.4	0.0	0.7

 

Export Sales Highlights

This
summary is based on reports from exporters for the period September 4-10, 2020.

Wheat:  Net
sales of 335,700 metric tons (MT) for 2020/2021 were down 31 percent from the previous week and 42 percent from the prior 4-week average.  Increases primarily for Indonesia (91,400 MT, including decreases of 500 MT), Vietnam (63,000 MT, including 52,000 MT
switched from unknown destinations), the Philippines (56,600 MT, including 52,000 MT switched from unknown destinations and decreases of 300 MT), Mexico (55,400 MT), and Italy (35,900 MT, including decreases of 500 MT), were offset by reductions for unknown
destinations (64,500 MT) and Brazil (1,000 MT).  For 2021/2022, total net sales of 300 MT were for Malaysia.  Exports of 564,000 MT were down 22 percent from the previous week, but up 2 percent from the prior 4-week average.  The destinations were primarily
to Indonesia (89,200 MT), the Philippines (76,600 MT), Japan (67,100 MT, including 400 MT late – see below), China (66,300 MT), and Mexico (49,800 MT). 

Export
Adjustments: Accumulated exports of white wheat to Yemen were adjusted down 30,000 MT for week ending June 8^th, 40,000 MT for week ending June 18^th, 30,000 MT for week ending July 16^th, and 51,190 MT for week ending August
20^th.  These exports were reported in error.

Late
Reporting: For 2020/2021, net sales and exports totaling 400 MT were reported late.  These sales and exports were reported for Japan.

 

Corn:  Net sales of 1,609,200
MT for 2020/2021 were primarily for unknown destinations (360,200 MT), China (359,700 MT, including 140,000 MT switched from unknown destinations), Japan (329,900 MT, including 83,400 MT switched from unknown destinations and decreases of 1,800 MT), South
Korea (201,700 MT), and Colombia (118,400 MT, including 30,000 MT switched from unknown destinations and decreases of 29,400 MT), were offset by reductions for El Salvador (17,400 MT) and Canada (4,700 MT).  Exports of 902,000 MT were primarily to Mexico (213,000
MT), China (209,700 MT), South Korea (138,800 MT), Colombia (118,700 MT), and Japan (114,400 MT). 

Optional Origin Sales:  For 2020/2021,
options were exercised to export 130,000 MT to South Korea from the United States.  The current outstanding balance of 594,200 MT is for Vietnam (260,000 MT), Taiwan (204,200 MT), and South Korea (130,000 MT).

 

Barley:  No net sales or exports
for 2020/2021 were reported for the week. 

Sorghum:  Net
sales of 121,500 MT for 2020/2021 resulting in increases for China (121,800 MT, including 68,000 MT switched from unknown destinations) and Japan (3,300 MT, including 3,600 MT switched from unknown destinations and decreases of 300 MT), were offset by reductions
for unknown destinations (3,600 MT).  Exports of 72,400 MT were to China (69,100 MT) and Japan (3,300 MT).

 

Rice: 
Net sales of 78,700 MT for 2020/2021 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for Brazil (30,000 MT), Haiti (15,200 MT, including decreases of 100 MT), Guatemala (9,100 MT), Canada (6,400 MT), and
Mexico (6,400 MT), were offset by reductions for El Salvador (300 MT).  Exports of 23,800 MT were up 99 percent from the previous week, but down 25 percent from the prior 4-week average.  The destinations were to Haiti (15,200 MT), Canada (3,200 MT), Mexico
(1,800 MT), Saudi Arabia (1,300 MT), and Jordan (700 MT).

Exports
for Own Account:  For 2020/2021, new exports for own account totaling 100 MT were to Canada.  The current exports for own account outstanding balance is 100 MT, all Canada.

 

Soybeans: 
Net sales of 2,457,100 MT for 2020/2021 were primarily for China (1,487,100 MT, including 264,000 MT switched from unknown destinations and decreases of 13,900 MT), unknown destinations (499,300 MT), Japan (73,100 MT, including 63,000 MT switched from unknown
destinations and decreases of 2,000 MT), Vietnam (66,800 MT, including 68,000 MT switched from unknown destinations and decreases of 6,100 MT), and the Netherlands (58,100 MT, including 60,000 MT switched from unknown destinations and decreases of 1,900 MT),
were offset by reductions primarily for Spain (55,000 MT).  Exports of 1,732,800 MT were primarily to China (1,089,400 MT), Egypt (113,100 MT), Mexico (104,200 MT), Japan (87,500 MT), and Vietnam (74,100 MT). 

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

Soybean
Cake and Meal:  Net sales reductions of 105,400 MT for 2019/2020–marketing-year low–were down noticeably from the previous week and from the prior 4-week average.  Increases primarily for Mexico (8,100 MT, including decreases of 200 MT), Kuwait (5,000 MT),
the Philippines (4,300 MT), Vietnam (3,800 MT, including decreases of 200 MT), and Indonesia (3,300 MT), were offset by reductions primarily for Canada (129,500 MT).  For 2020/2021, net sales of 197,300 MT primarily for Canada (121,400 MT), Guatemala (30,200
MT), Mexico (24,000 MT), Colombia (22,000 MT), and Honduras (13,800 MT), were offset by reductions primarily for unknown destinations (32,400 MT).  Exports of 228,700 MT were up 28 percent from the previous week and 15 percent from the prior 4-week average. 
The destinations were primarily to Mexico (50,700 MT), the Philippines (48,800 MT), Morocco (32,300 MT), Canada (21,700 MT), and Japan (18,900 MT).

 

Soybean
Oil:  Net sales of 100 MT for 2019/2020 resulting in increases primarily for Mexico (700 MT), were offset by reductions for Canada (700 MT).  Exports of 20,800 MT were up 1 percent from the previous week and 26 percent from the prior 4-week average.  The
destinations were primarily to the Dominican Republic (18,000 MT), Canada (1,600 MT), and Mexico (1,100 MT).

 

Cotton: 
Net sales of 519,600 RB for 2020/2021 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for China (440,100 RB, including 1,500 RB switched from Taiwan and decreases of 2,300 RB), Mexico (20,000 RB), Pakistan
(17,600 RB), Vietnam (11,300 RB, including 1,300 RB switched from South Korea), and Turkey (7,800 RB), were offset by reductions for Japan (1,100 RB) and South Korea (500 RB).  Exports of 187,900 RB were down 19 percent from the previous week and 38 percent
from the prior 4-week average.  Exports were primarily to China (95,800 RB), Vietnam (26,200 RB), Indonesia (15,300 RB), Mexico (11,600 RB), and Bangladesh (7,300 RB).  Net sales of Pima totaling 28,000 RB were up 61 percent from the previous week and 75 percent
from the prior 4-week average.  Increases were primarily for China (12,600 RB), India (7,600 RB), Vietnam (5,800 RB, including 200 RB switched from Japan), Pakistan (700 RB), and Greece (500 RB), were offset by reductions for Japan (200 RB).  Exports of 16,500
RB were up 54 percent from the previous week and 59 percent from the prior 4-week average.  The primary destinations were Vietnam (6,700 RB), China (4,000 RB), Bangladesh (1,700 RB), India (1,300 RB), and Pakistan (1,000 RB). 

Exports
for Own account:  For 2020/2021, exports for own account totaling 1,800 RB to Vietnam were applied to new or outstanding sales.  The current exports for own account outstanding balance of 13,600 RB is for China (8,700 RB), Indonesia (3,900 RB), and Bangladesh
(1,000 RB). 

 

Hides
and Skins: Net sales of 429,800 pieces for 2020 were up 27 percent from the previous week, but down 1 percent from the prior 4-week average.  Increases primarily for China (364,500 whole cattle hides, including
decreases of 6,900 pieces), South Korea (37,400 whole cattle hides, including decreases of 900 pieces), Mexico (16,900 whole cattle hides, including decreases of 600 pieces), Taiwan (7,800 whole cattle hides), and Vietnam (2,800 whole cattle hides), were offset
by reductions for Belgium (22,400 pieces).  Additionally, total net sales of 22,100 kip skins were for Belgium, including decreases of 300 kip skins.  Exports of 413,800 pieces reported for 2020 were up 11 percent from the previous week, but down 3 percent
from the prior 4-week average.  Whole cattle hides exports were primarily to China (346,200 pieces), South Korea (32,300 pieces), Mexico (22,200 pieces), Vietnam (5,300 pieces), and Indonesia (1,700 pieces).  In addition, exports of 3,600 kip skins were primarily
to Belgium (2,500 kip skins).

Net
sales of 19,400 wet blues for 2020 were down 87 percent from the previous week and 88 percent from the prior 4-week average.  Increases primarily for Thailand (38,600 unsplit, including decreases of 400 unsplit), Taiwan (11,800 unsplit and 1,700 grain splits,
including decreases of 200 unsplit), Italy (11,200 unsplit), Vietnam (10,800 grain splits, including decreases of 59,600 unsplit), and China (4,000 unsplit, including decreases of 20,000 unsplit), were offset by reductions for Mexico (100 grain splits).  For
2021, net sales of 112,000 wet blues were reported for Vietnam (92,000 unsplit) and China (20,000 unsplit).  Exports of 141,100 wet blues for 2020 were up noticeably from the previous week and up 50 percent from the prior 4-week average.  The destinations
were primarily to China (39,700 unsplit), Thailand (38,400 unsplit), Vietnam (29,700 unsplit), Italy (17,300 unsplit and 4,500 grain splits), and Taiwan (4,300 unsplit).  Net sales of 204,800 splits were reported for China (125,600 pounds) and Vietnam (79,200
pounds).  Exports of 599,400 pounds were to Vietnam.

 

Beef:
Net sales of 14,300 MT reported for 2020 were down 8 percent from the previous week and 2 percent from the prior 4-week average.  Increases were primarily for South Korea (4,400 MT, including decreases of 300 MT),
Japan (4,000 MT, including decreases of 200 MT), China (1,800 MT), Mexico (1,400 MT), and Canada (900 MT, including decreases of 100 MT).  For 2021, net sales of 500 MT were primarily for Japan.  Exports of 14,100 MT were down 12 percent from the previous
week and 19 percent from the prior 4-week average.  The destinations were primarily to Japan (4,000 MT), South Korea (3,900 MT), Hong Kong (1,400 MT), Taiwan (1,200 MT), and Mexico (1,000 MT).

Pork:
Net sales of 50,600 MT reported for 2020 were up 68 percent from the previous week and 41 percent from the prior 4-week average.  Increases primarily for China (35,900 MT, including decreases of 200 MT), Mexico (5,900 MT, including decreases of 400 MT),
Japan (3,200 MT, including decreases of 400 MT), Canada (1,500 MT, including decreases of 400 MT), and Australia (1,300MT, including decreases of 100 MT), were offset by reductions primarily for Nicaragua (100 MT).  For 2021, total net sales of 100 MT were
for Australia.  Exports of 28,600 MT were down 15 percent from the previous week and 12 percent from the prior 4-week average.  The destinations were primarily to Mexico (9,200 MT), China (8,300 MT), Japan (3,700 MT), Canada (1,900 MT), and South Korea (1,400
MT).

September 17, 2020                                                      
1                FOREIGN AGRICULTURAL SERVICE/USDA

                                                                                                SUMMARY OF EXPORT TRANSACTIONS
                                                                                 REPORTED UNDER THE DAILY SALES REPORTING SYSTEM
                                                                                                FOR PERIOD ENDING SEPTEMBER 10, 2020 

 

COMMODITY                        DESTINATION                                QUANITY (MT)                            MARKETING YEAR                     

CORN                                      JAPAN                                                106,000 MT 1/                                 2020/2021

CORN                                      UNKNOWN                                        101,600 MT 1/                                 2020/2021

CORN                                      CHINA                                                140,000 MT 2/                                 2020/2021

SOYBEANS                            CHINA                                                831,000 MT 1/                                 2020/2021

SOYBEANS                            UNKNOWN                                        672,000 MT 1/                                 2020/2021