FI Evening Grain Comments 02/11/21

PDF Attached

 

 

Weather

U.S.
CPC: 60% change of a transition from LA NIÑA to neutral ENSO during Northern Hemisphere spring 2020 (APRIL-JUNE).

 

 

 

 

 

 

 

MARKET
WEATHER MENTALITY FOR CORN AND SOYBEANS: 

Market
worry over Brazil harvest weather for soybeans and planting progress for Safrinha corn will continue, although the past week has been ideal in firming up the topsoil and supporting faster fieldwork. Expected rain over this coming week will disrupt fieldwork,
but it will not likely bring all field operations to a halt. Northern Mato Grosso may have the biggest problem with rain delays, although some will occur in other areas, as well. Brazil’s farmers are used to harvesting in less than ideal conditions and progress
should advance.

In
Argentina, weather conditions are expected to be mixed with areas of drying from the southwest into central parts of the nation that may eventually raise a few flags, but there is still time for the outlook to change as crops thrive on favorable subsoil moisture
outside of southern La Pampa and southwestern Buenos Aires where conditions are already too dry.

            South
Africa production remains good with little change likely. Recent rain in New South Wales has been good for summer crop development, But Queensland needs greater rain.

            Weather
in rapeseed areas of China remains favorable and the same is true for India, although greater rain might be good for all of its winter crop areas this month.

            Winter
crops in Europe are plenty wet and cold with little change likely for a while. No harm to crops in the continent will occur anytime soon. That is true for Ukraine crops as well. There is a rising potential for flooding in far western Europe, northwestern and
west-central Russia and in western and north-central Ukraine this spring because of wet soil and deep snow cover outside of Western Europe.

            Overall,
weather today will continue to maintain a floor of support for the market’s bullishness, but caution is still warranted because the perception of what is happening in Brazil may be a little skewed from reality.

 

MARKET
WEATHER MENTALITY FOR WHEAT:  Most of the wheat production losses in the northern U.S. Plains from recent bitter cold should be low from a national perspective, but locally farmers will not be pleased. Damage in Canada was even less of an impact on its winter
grain crop, but some loss is expected there as well.

            U.S.
hard red winter wheat and soft red wheat in the Midwest will not be negatively impacted by bitter cold this week due to adequate snow cover even though snow cover is not very good today in the west-central high Plains.

            No
crop damage has occurred in Europe or the western CIS so far this season and this week will likely maintain a mostly good environment for crops with snow cover to adequately protect wheat, barley and rye from permanent damage because of bitter cold temperatures.

           
Wheat conditions in China remain very good and that of India are fair to good. Rain is needed in most of India to induce better yield potentials, although the nation is still expecting a fair-sized crop. Some moisture will occur in central India next week.

            North
Africa wheat is drying out except in north-central Morocco where conditions have been ideal. Drought has already cut into southwestern Morocco production and the same may occur in northwestern Algeria if spring rainfall is not very good.

            Middle
East precipitation has been erratic and often light this winter and a boost in precipitation would be welcome especially from Iraq to Afghanistan. Turkey precipitation has been better distributed than in most other areas.

           
Overall, weather today will likely produce a mixed influence on market mentality.

Source:
World Weather Inc. and FI

 

 

USDA’s
annual Ag Outlook Forum
is next week:  https://www.usda.gov/oce/ag-outlook-forum

 

Bloomberg
Ag Calendar

Thursday,
Feb 11:

• USDA
  weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
• Conab’s
  data on yield, area and output of corn and soybeans in Brazil
• Russian
  consultant IKAR holds agricultural conference, day 1
• Port
  of Rouen data on French grain exports
• HOLIDAY:
  China, Japan, South Korea, Vietnam

Friday,
Feb 12:

• 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
• Russian
  consultant IKAR holds agricultural conference, day 2
• New
  Zealand Food Prices
• HOLIDAY:
  China, Hong Kong, Indonesia, Malaysia, South Korea, Singapore, Vietnam, Thailand, Philippines

Source:
Bloomberg and FI

 

 

USDA
export sales
were better than expected to corn, wheat, old crop soybeans.  Soybean meal sales and shipments were ok.  Soybean oil sales showed a small net reduction, but shipments were good.  China bought 110,000 tons of sorghum.  China was not a large buyer, if any, for
corn and wheat.  For soybeans, increases primarily for China (517,000 MT, including 198,000 MT switched from unknown destinations, decreases of 9,500 MT, and 296,000 MT late).  Pork sales of 36,900 tons included 9,700 for China (includes 1,200 decrease). 

 

 

 

Bloomberg
Ag Calendar

Thursday,
Feb 11:

• USDA
  weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
• Conab’s
  data on yield, area and output of corn and soybeans in Brazil
• Russian
  consultant IKAR holds agricultural conference, day 1
• Port
  of Rouen data on French grain exports
• HOLIDAY:
  China, Japan, South Korea, Vietnam

Friday,
Feb 12:

• 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
• Russian
  consultant IKAR holds agricultural conference, day 2
• New
  Zealand Food Prices
• HOLIDAY:
  China, Hong Kong, Indonesia, Malaysia, South Korea, Singapore, Vietnam, Thailand, Philippines

Source:
Bloomberg and FI

 

Macros

US
Initial Jobless Claims (Feb 6) 793K (est 760K; prevR 812K; prev 779K)

–
US Continuing Claims (Jan 30) 4.545 Mln (est 4.420 Mln; prevR 4.690 Mln; prev 4.592 Mln)

Euro
Zone Growth In 2021 To Rebound Less Than Expected

 

Corn.

• Corn
  futures appreciated on bottom picking (after a two-day decline) and higher soybean meal.  Better than expected USDA export sales added to the positive undertone.  China was not a large buyer of corn last week, but they picked up a couple cargoes of sorghum. 
  China is officially on holiday. 
• Note
  USDA is due out with commodity outlooks for the US 2021-22 supply and demand a week from Friday.  There are some in the camp that USDA may unveil a 94 million US corn planted area.  An area reported above 92.5 million could be negative for new-crop December
  corn futures, based on our observations of selected estimates released in recent months. 
  
• Datagro
  reported Brazil producers sold 60.4 percent of their 2020-21 soybean crop versus 40.8 percent average, and 9.4 percent of 2021-22 versus 2.3 percent average. 
  
• Conab
  updated their Brazilian corn and soybean supply and both were revised up from the previous month.  The corn production was taken up 3.2 million tons in part to a 629,000 hectare increase in the area, a surprise to us as we thought Conab would start factoring
  in potential area loss for the second crop amid delays in soybean harvest.  They also cited improving rains in late December through January.  Yet, the corn crop still came in 3 million tons below trade expectations.  The first crop was projected at 23.629
  million tons and second crop at 80.077 million tons. 
• Conab
  estimated the Brazil total grain crop was seen at 268.3 million tons, up from 264.8 million tons in Jan and above 257 million tons in 2019-20. 
  
• Rosario
  grains exchange raised its forecast for the 2020-21 Argentina soybean harvest to 49 million tons, versus 47 million previously, and for corn to 48.5 million tons from 46 million, due to recent rains improving conditions.  USDA is at 48.0 million tons for soybeans
  and 47.5 million tons for corn.  We are hearing traders are more inline with 45 to 47 corn and 46 to 48 soybeans. 
  
• Argentina
  decided not to raise export taxes on grains, according to the president of Confederaciones Rurales Argentinas (CRA). 
  
• AgriCensus
  noted with the recent decline in Argentina corn premiums, importers have shifted interest from the US to Argentina, ahead of harvest season. 
  
• South
  Africa’s CEC estimated final 2020 corn production at 15.300 million tons (last 15.408), up from 11.275 million tons in 2019.  White corn was pegged at 8.548 million tons and yellow at 6.753 million tons. 
  
• Goldman
  roll – day 5. 

 

Corn
Export Developments

• Turkey’s
  TMO bought about 235,000 tons of optional origin corn for Feb 19-Mar 15 shipment.  Lowest price was estimated to be $269 a ton c&f.

 

Updated
2/10/21

March
corn is seen trading in a $5.20 and $6.00 range

May
corn is seen in a $5.15 and $6.00 range.

July
is seen in a $5.00 and $6.00 range.

December
corn is seen in a $3.75-$5.50 range.

 

Soybean
complex.
 

• March
  soybeans, meal and oil were higher this morning on bottom picking.  Soybean oil sold off on poor USDA export sales and oil share declined.   We think the market was overdone yesterday with selling, but the trade may need to see good export inspections over
  the next month to sustain multi year highs.  The focus is shifting back to global weather with too much rain in parts of SA and cold temperatures for the US.  Next week major weather agencies will be updating ENSO forecasts so something to keep in mind.  Today
  the CPC made a statement that they look for La Nina to ease this Northern Hemisphere spring. 
  
• Conab
  estimated the Brazil soybean crop at a record 133.8 million tons, up from 133.69 million tons forecast in January.  The soybean crop was 0.5 million tons above a Bloomberg trade guess.  There was no change to yield. 
  
• Brazil’s
  Minas Gerais, Espirito Santo, Goias and east of Mato Grosso will see above average precipitation Feb. 15-21. 
  
• Increasing
  talk of commodities entering a super cycle is long term supportive. 
• Indonesia
  January palm oil exports were 1.92 million tons, down 25 percent from 2.56 million tons in December. 
  

o         
273,687 tons of crude palm oil

o         
717,814 tons of RBD palm olein

o         
398,320 tons of RBD palm oil

• China
  is on holiday for a week. 

 

Soybean
Export Developments

• Egypt’s
  GASC bought 30,000 tons of soyoil at $1,072 a ton c&f and passed on sunflower oil for arrival between March 16 and April 5.  Earlier the lowest offer for 10,000 tons of sunflower oil at $1,319 a ton c&f. 
  
• Turkey
  seeks 25,000 tons of sunflower oil on Feb 18.  Shipment is sought between Feb. 26 and March 20.
  

 

Soybean
oil share slipped today after USDA export sales disappoint

Source:
Reuters and FI

 

Due
out Feb 16

 

Updated
2/9/21

March
soybeans are seen in a $13.50 and $15.00 range. 

March
soymeal is seen in a $415 and $470 range.

March
soybean oil is seen in a 44 and 47.00 cent range

 

Wheat

• US
  wheat traded two-sided, ending lower despite good buying in corn and higher than expected USDA export sales.  We expect the trade to become a little more sensitive to US and European/Black Sea weather over the next week. 
  

• Conab
  estimated the Brazil wheat crop at 6.437 million tons, up from 6.234 million tons in January. 
  

• Strategie
  Grains increased its projection of soft wheat exports from the European Union and Britain in 2020-21 by 1 million tons to 26.1 million. 
  
• EU
  March milling wheat was up 0.50 at 223.50 euros. 
• US
  temperatures will remain cold for the balance of the week, raising concerns over winterkill.  See the US snow coverage map in the weather section. 
  
• Ukraine
  and eastern Europe will also see very cold temperatures next week. 

 

US
wheat country will see limited rain for the 8-14 period.

 

 

India
Grain and Feed Update
– Attaché looks for a record wheat crop at 107.6 million tons (same as USDA official)

https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=India%20-%20Grain%20and%20Feed%20Update%20-%20February%202021_New%20Delhi_India_02-05-2021

 

Export
Developments.

• Jordan
  seeks 120,000 tons of wheat on February 17.
• Jordan
  seeks 120,000 tons of barley on February 16.
• Japan
  seeks 80,000 tons of feed wheat and 100,000 tons of barley in a SBS import tender on February 16 for arrival by July 29. 
  

 

Rice/Other

None
reported

 

Updated
2/9/21

March
Chicago wheat is seen in a $6.30‐$7.00 range.

March
KC wheat is seen in a $6.00‐$6.70 range.

March
MN wheat is seen in a $6.00‐$6.55 range.

 

 

U.S. EXPORT SALES FOR WEEK ENDING 2/4/2021 

	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	211.7	1,440.2	1,908.1	129.6	6,316.4	6,261.0	0.0	202.0
SRW	55.6	483.5	393.2	17.4	1,224.9	1,809.1	9.4	227.9
HRS	245.2	2,074.9	1,576.6	189.3	4,828.2	4,732.2	25.0	92.0
WHITE	78.4	2,392.8	1,218.8	100.7	3,585.8	3,188.5	9.9	80.0
DURUM	0.1	165.4	197.4	1.9	492.5	623.8	0.0	0.0
TOTAL	591.0	6,556.9	5,294.1	438.9	16,447.8	16,614.7	44.4	601.9
BARLEY	0.0	11.6	15.8	0.3	19.0	33.0	0.0	14.5
CORN	1,448.6	35,972.7	11,869.4	1,565.7	21,582.5	11,890.0	12.2	899.4
SORGHUM	110.0	3,167.7	284.0	54.9	2,763.3	889.2	0.0	594.0
SOYBEANS	804.7	9,722.6	5,504.9	2,213.9	49,739.6	27,363.7	178.5	4,424.9
SOY MEAL	263.5	2,959.6	3,630.2	251.5	4,503.1	3,885.4	1.2	215.1
SOY OIL	-0.4	207.4	298.6	35.4	376.3	342.9	0.0	0.6
RICE
L G RGH	-7.9	276.6	440.7	31.0	872.6	757.7	0.0	0.0
M S RGH	0.0	11.8	43.3	0.5	17.1	17.0	0.0	0.0
L G BRN	1.9	13.1	22.2	0.2	23.4	22.0	0.0	0.0
M&S BR	0.5	52.7	66.0	0.9	54.1	24.5	0.0	0.0
L G MLD	22.8	90.4	92.1	20.0	351.9	576.6	0.0	0.0
M S MLD	7.9	205.8	129.0	6.8	268.6	335.2	0.0	0.0
TOTAL	25.2	650.5	793.2	59.3	1,587.8	1,733.0	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	275.4	5,893.1	7,329.9	433.6	7,148.2	5,867.5	170.1	1,113.3
PIMA	9.7	273.2	227.8	7.1	401.0	212.4	0.0	1.1

 

Export Sales Highlights

This
summary is based on reports from exporters for the period January 29-February 4, 2021.

Wheat:  Net
sales of 591,000 metric tons (MT) for 2020/2021 were down 8 percent from the previous week, but up 50 percent from the prior 4-week average.  Increases primarily for unknown destinations (167,000 MT), Mexico (108,800 MT, including decreases of 2,300 MT), the
Philippines (99,200 MT, including decreases of 700 MT), Taiwan (89,200 MT), and Japan (57,000 MT), were offset by reductions primarily for Nigeria (17,000 MT), Guatemala (9,900 MT), and Thailand (4,600 MT).  For 2021/2022, net sales of 44,400 MT were primarily
for the Philippines (25,000 MT) and Guatemala (9,900 MT).  Exports of 438,900 MT were down 12 percent from the previous week, but up 8 percent from the prior 4-week average.  The destinations were primarily to the Philippines (115,700 MT), Mexico (92,100 MT),
Taiwan (80,200 MT), Thailand (58,700 MT), and Colombia (34,000 MT). 

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

Corn: 
Net sales of 1,448,600 MT for 2020/2021 were down 81 percent from the previous week and 52 percent from the prior 4-week average.  Increases primarily for Japan (517,700 MT, including 54,700 MT switched from unknown destinations and decreases of 57,200 MT),
Mexico (456,400 MT, including 61,000 MT switched from unknown destinations and decreases of 9,200 MT), Egypt (119,500 MT, including 60,000 MT switched from unknown destinations and decreases of 500 MT), Guatemala (72,200 MT), and Colombia (71,200 MT, including
55,000 MT switched from unknown destinations and decreases of 29,100 MT), were offset by reductions primarily for unknown destinations (127,100 MT).  For 2021/2022, net sales of 12,200 MT were primarily for Mexico (10,900 MT).  Exports of 1,565,700 MT–a marketing-year
high–were up 57 percent from the previous week and 32 percent from the prior 4-week average.  The destinations were primarily to China (357,600 MT), Japan (314,000 MT), Mexico (288,000 MT), Colombia (129,600 MT), and Peru (78,400 MT).

Optional Origin Sales: 
For 2020/2021, decreases totaling 100,000 MT were reported for Taiwan (70,000 MT) and unknow destinations (30,000 MT).  The current outstanding balance of 1,219,400 MT is for South Korea (838,000 MT), unknown destinations (244,000 MT), Taiwan (70,000 MT),
China (65,000 MT), and Ukraine (2,400 MT).

Barley: 
No net sales were reported for the week.  Exports of 300 MT were to Taiwan. 

Sorghum: 
Net sales of 110,000 MT for 2020/2021 were up 73 percent from the previous week, but down 40 percent from the prior 4-week average.  Increases were reported for China (110,000 MT, including decreases of 1,000 MT).  Exports of 54,900 MT were down 82 percent
from the previous week and 70 percent from the prior 4-week average.  The destination was China.

Rice: 
Net sales of 25,200 MT for 2020/2021 were down 74 percent from the previous week and 69 percent from the prior 4-week average.  Increases primarily for Haiti (18,900 MT), Colombia (9,000 MT), Japan (5,200 MT), El Salvador (3,500 MT), and Canada (3,400 MT,
including decreases of 100 MT), were offset by reductions for Venezuela (21,500 MT) and Mexico (900 MT).  Exports of 59,300 MT were up 97 percent from the previous week and 44 percent from the prior 4-week average.  The destinations were primarily to Honduras
(28,600 MT), Haiti (14,400 MT), Mexico (3,300 MT), Saudi Arabia (2,800 MT), and Canada (2,600 MT).

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

Soybeans: 
Net sales of 804,700 MT for 2020/2021 were down 2 percent from the previous week and 20 percent from the prior 4-week average.  Increases primarily for China (517,000 MT, including 198,000 MT switched from unknown destinations, decreases of 9,500 MT, and 296,000
MT late–see below), the Netherlands (212,700 MT, including 193,000 MT switched from unknown destinations and decreases of 1,300 MT), Mexico (133,400 MT, including decreases of 3,600 MT), Egypt (119,200 MT, including 65,000 MT switched from unknown destinations
and decreases of 3,900 MT), and Indonesia (114,200 MT, including 55,000 MT switched from unknown destinations and decreases of 3,800 MT), were offset by reductions primarily for unknown destinations (536,800 MT).  For 2021/2022, net sales of 178,500 MT were
reported for China (66,000 MT), unknown destinations (65,000 MT), and Mexico (47,500 MT).  Exports of 2,213,900 MT were up 13 percent from the previous week and 3 percent from the prior 4-week average.  The destinations were primarily to China (1,154,800 MT,
including 296,000 MT late–see below), the Netherlands (212,700 MT), Mexico (161,700 MT), Taiwan (116,000 MT), and Egypt (114,200 MT).

Late Reporting: For
2020/2021, new sales totaling 296,000 MT were reported late for China.  For 2020/2021, exports totaling 352,700 MT were reported late for China (296,000 MT) and Bangladesh (56,700 MT).

Exports for Own Account:  For 2020/2021,
decreases were reported for Canada (300 MT).  The current exports for own account outstanding balance is 5,800 MT, all Canada.

Soybean Cake and Meal: 
Net sales of 263,500 MT for 2020/2021 were down 13 percent from the previous week and 16 percent from the prior 4-week average.  Increases primarily for Vietnam (50,300 MT, including 50,000 MT switched from unknown destinations), Colombia (48,700 MT, including
decreases of 500 MT and 27,000 MT late–see below), the Philippines (45,200 MT, including decreases of 300 MT), Honduras (42,600 MT, including 12,000 MT switched from El Salvador and decreases of 5,000 MT), and Guatemala (39,300 MT), were offset by reductions
primarily for unknown destinations (50,000 MT), Costa Rica (12,800 MT), and El Salvador (7,000 MT).  For 2021/2022, total net sales of 1,200 MT were for Canada.  Exports of 251,500 MT were up 26 percent from the previous week and 1 percent from the prior 4-week
average.  The destinations were primarily to Vietnam (50,900 MT), Mexico (43,100 MT), Colombia (40,400 MT,
including 27,000 MT late–see below), the Philippines (19,800 MT), and Honduras (17,500 MT).

Late Reporting:
For 2020/2021, net sales and exports totaling 27,000 MT were reported late to Colombia.

Soybean Oil: 
Net sales reductions of 400 MT for 2020/2021–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average.  Increases primarily for Colombia (3,200 MT, including decreases of 200 MT), the Dominican Republic (500 MT),
and Mexico (500 MT), were more than offset by reductions for Guatemala (4,400 MT) and Canada (200 MT).  Exports of 35,400 MT were up noticeably from the previous week and up 4 percent from the prior 4-week average.  The destinations were primarily to South
Korea (25,500 MT), Guatemala (7,700 MT), Mexico (1,000 MT), the Dominican Republic (600 MT), and Canada (500 MT).

Cotton: 
Net sales of 275,400 RB for 2020/2021 were down 4 percent from the previous week and 10 percent from the prior 4-week average.  Increases primarily for China (55,800 RB, including 4,800 RB switched from Vietnam), Turkey (44,600 RB), Vietnam (42,000 RB, including
700 RB switched from South Korea), Pakistan (25,500 RB), and South Korea (18,600 RB), were offset by reductions primarily for El Salvador (1,100 RB) and Peru (400 RB).  For 2021/2022, net sales of 170,100 RB primarily for Vietnam (154,000 RB), South Korea
(15,000 RB), Pakistan (9,700 RB), Bangladesh (4,600 RB), and Mexico (2,800 RB), were offset by reductions primarily for China (8,800 RB) and the Philippines (6,600 RB).  Exports of 433,600 RB–a marketing-year high–were up 36 percent from the previous week
and 46 percent from the prior 4-week average.  Exports were primarily to China (143,200 RB), Mexico (85,000 RB, including 67,700 RB late–see below), Vietnam (68,500 RB), Pakistan (51,400 RB), and Bangladesh
(20,500 RB).  Net sales of Pima totaling 9,700 RB were down 49 percent from the previous week and 63 percent from the prior 4-week average.  Increases primarily for Peru (4,900 RB, including decreases of 300 RB), Turkey (1,300 RB), Pakistan (1,300 RB), Honduras
(1,300 RB), and China (1,100 RB), were offset by reductions primarily for India (1,100 RB).  Exports of 7,100 RB were down 65 percent from the previous week and 45 percent from the prior 4-week average.  The destinations were primarily to India (3,000 RB),
Vietnam (2,200 RB), Peru (500 RB), Pakistan (400 RB), and Thailand (400 RB).  

Exports for Own Account: 
For 2020/2021, new exports for own account totaling 18,100 RB were to China (14,700 RB) and Vietnam (3,400 RB).  Exports for own account totaling 400 RB to China were applied to new or outstanding sales.  The current exports for own account outstanding balance
of 33,100 RB is for China (25,900 RB) and Vietnam (7,200 RB).

Late Reporting:
For 2020/2021, exports totaling 67,700 RB were reported late to Mexico.

Hides
and Skins: 
Net sales of 372,200 pieces for 2021, primarily for China (188,500 whole cattle hides, including decreases of 59,700 pieces), South Korea (60,800 whole cattle hides, including decreases of 2,300 pieces), Thailand (39,300 whole cattle hides, including decreases
of 1,100 pieces), Mexico (36,300 whole cattle hides, including decreases of 1,900 pieces), and Brazil (21,200 whole cattle hides, including decreases of 800 pieces), were offset by reductions for Turkey (400 pieces).  Exports of 409,900 pieces for 2021 were
primarily to China (270,700 pieces), South Korea (55,300 pieces), Mexico (36,600 pieces), Thailand (23,600 pieces), and Taiwan (10,900 pieces).  Additionally, exports of 2,000 kip skins were to Mexico. 

Net
sales of 111,200 wet blues for
2021, primarily for Italy (34,100 unsplit and 25,000 grain splits, including decreases of 800 unsplit), Mexico (12,300 grain splits and 5,100 unsplit), Thailand (14,200 unsplit, including decreases of 200 unsplit), Brazil (10,200 unsplit), and Vietnam (6,900
unsplit, including decreases of 300 unsplit), were offset by reductions for China (500 unsplit).  Exports of 137,200 wet blues for 2021 were primarily to Vietnam (52,900 unsplit), China (33,800 unsplit), Italy (24,400 unsplit and 9,300 grain splits), Thailand
(9,800 unsplit), and Mexico (2,100 grain splits and 1,700 unsplit).  Net sales of 92,700 splits were reported for Vietnam (55,100 pounds) and China (37,600 pounds).  Exports of 280,000 pounds were to Vietnam.

Beef: 
Net
sales of 17,500 MT reported for 2021, increases primarily for Japan (5,100 MT, including decreases of 500 MT), South Korea (4,300 MT, including decreases of 500 MT), Mexico (3,200 MT, including decreases of 100 MT), China (1,800 MT), and Taiwan (1,200 MT),
were offset by reductions primarily for Vietnam (400 MT) and Colombia (100 MT).  Exports of 17,600 MT were primarily to South Korea (5,000 MT), Japan (4,900 MT), China (1,500 MT), Mexico (1,500 MT), and Hong Kong (1,400 MT).

Pork: 
Net
sales of 36,900 MT reported for 2021, increases primarily for China (9,700 MT, including decreases of 1,200 MT), South Korea (8,200 MT, including decreases of 200 MT), Mexico (5,100 MT, including decreases of 400 MT), Japan (4,700 MT, including decreases of
200 MT), and Canada (2,700 MT, including decreases of 400 MT), were offset by reductions for El Salvador (500 MT).  Exports of 37,800 MT were primarily to China (10,700 MT), Mexico (10,000 MT), Japan (5,400 MT), South Korea (3,000 MT), and Canada (2,400 MT). 

 

February 11, 2021                                          
1                FOREIGN AGRICULTURAL SERVICE/USDA

                                                                                               SUMMARY OF EXPORT TRANSACTIONS
                                                                                 REPORTED UNDER THE DAILY SALES REPORTING SYSTEM
                                                                                                FOR PERIOD ENDING FEBRUARY 4, 2020 

COMMODITY                        DESTINATION                                QUANITY (MT)                            MARKETING YEAR         

CORN                                       MEXICO                                         115,000 MT 1/                                 2020/2021

CORN                                       UNKNOWN                                    101,600 MT 1/                                 2020/2021

1/ Export Sales.