FI Evening Grain Comments 08/06/20

PDF Attached

 

USDA
24-hour: 126k soybeans for China.  USDA export sales were the best we have seen for most of the commodities in a while.   

 

Weather
and Crop Progress

UNITED
STATES

The
general weather theme for the United States has not changed much today relative to that of earlier this week. An erratic rainfall distribution is expected over the next ten days with some areas getting better rainfall than others. The next period of active
tropical weather is expected in ten days to two weeks and that is the earliest that weather in the U.S. can change again. In the meantime, higher heights aloft will bring back warmer temperatures and it will be difficult for many crop areas to get enough rain
to counter evaporation even though the GFS model continues to generate frequent precipitation.

 

EUROPE/BLACK
SEA

Relief
from dryness in France and neighboring areas is still being advertised for next week. The situation will be debated for a while over how significant the relief will be, but the nation is critically dry and needs rain. A notable warm up is expected to precede
the rain adding more stress to crops and making the already stressful situation worse.

• The
  GFS model run does a better job today keeping the rain in western Europe relative to that of Wednesday’s outlook maps and that leads to greater drying in central and eastern Europe as the next ten days evolve
• Some
  showers are still expected, but areas east of France and the U.K. may not much increasing soil moisture
• Ongoing
  dryness is still advertised for the far southeastern part of the Balkan Countries including a part of the lower Danube River Basin for the next ten days
• Showers
  in Ukraine and Russia’s Southern region are not expected to generate enough rain to make much difference in crop or field conditions

 

Relief
expected in France and the U.K. next week may get as far east as Belgium and a few far western Germany locations, but not much farther than that. The moisture will provide some relief from the very warm to hot weather and limited rain that is expected today
into the weekend. All of the rain will be welcome, but it will come a little too late in the summer to have a big impact on production and the greatest moisture may be a little more sporadic than desired.

 

RUSSIA
NEW LANDS

Model
consistency today remains for abundant rain to fall near and immediately east of the Ural Mountains in the central New Lands over the coming ten days. Some areas may receive 2.00 to more than 5.00 inches of rain by the end of next week. Some of that same region
is already saturated or nearly saturated and that may raise some potential for flooding.

• Early
  maturing wheat and sunseed in the region could experience a threat to crop quality and drier weather may soon be needed
• Most
  of the global forecast models have been suggesting an eastward shift of rainfall into the eastern New Lands next week
• Not
  all of the eastern New Lands will be impacted, but some areas near the north-central Kazakhstan border may get 1.00 to 2.00 inches of rain
  
• Areas
  to the north and east of that region may not get as much rain with less than 0.50 inch resulting in some ongoing concern over dryness
  
• The
  driest areas will be in western parts of Siberia after the end of next week

 

Overall,
the weather change advertised for next week will be mostly good, although concern over crop quality in the central New Lands will rise because of the wetter bias in that region.

 

CHINA

• Heavy
  rain causing some local flooding occurred Wednesday from northern Shaanxi (where significant rain fell Tuesday) into Shanxi and western parts of Hebei where amounts varied from 3.00 to more than 6.00 inches
  
• Lighter
  rain surrounded the region
• Heavy
  rain also expanded in North Korea with additional amounts of 2.75 to more than 6.00 inches resulting
• More
  flooding rain is expected in the Korean Peninsula periodically through the next week to ten days
• China’s
  forecast has not changed greatly for the next two weeks
• Most
  of the nation will get rain frequently and amounts will be great enough to either maintain moisture abundance or to induce a net boost in soil moisture
• The
  Yangtze River Basin will be the only exception with net drying likely in the lower half of the basin and especially in the interior southeastern part of the nation
• Soil
  conditions are already saturated in many crop regions in eastern China implying there is potential for local flooding nearly every day in areas of greatest rainfall
• Korean
  Peninsula is still advertised to receive copious amounts of rain over the next ten days resulting in serious flooding and possible crop and property damage

Overall,
no significant changes were noted or expected in eastern China’s key crop areas during the next ten days to two weeks.

 

AUSTRALIA

• No
  significant change was noted in the first ten days of the outlook
• However,
  less rain was suggested for eastern South Australia Aug. 13-14
• Some
  of the reduction was needed
• GFS
  model increased rainfall from southern Queensland to northeastern New South Wales August 17-20
• Some
  of this increased rainfall was overdone

 

The
bottom line remains very good for future winter wheat, barley and canola development.  Most crop areas get rain at one time or another during the next two weeks favoring a good start to the growing season when season warming evolves soon.

 

SOUTH
AMERICA

• Rain
  was reduced in Argentina Aug. 18-19
• The
  reduction was needed
• The
  GFS model run was still exaggerating rainfall for southern Brazil and may be promoting it a little too far to the north into Sao Paulo during the August 17-21 period
• The
  model also brings rain southern Minas Gerais and Rio de Janeiro Aug. 20-21 and that is not likely to verify

The
bottom line remains one of ongoing concern for western Argentina wheat and barley in where drought remains and is not likely to change. Improving Southern Brazil rainfall next week and out through Aug. 21 will improve wheat conditions and early corn planting
conditions, but it is still questionable how heavy that rainfall will be and how far to the north it might extend. A little too much rain may impact a few wheat areas and local flooding will be possible

Source:
World Weather Inc and FI

 

 

 

 

7
Day Precipitation Outlook

 

 

Bloomberg
Ag Calendar

THURSDAY,
August 6:

• FAO
  World Food Price Index
• USDA
  weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
• Port
  of Rouen data on French grain exports

FRIDAY,
August 7:

• China’s
  foreign trade data for July, including imports of soybeans and meat
• 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

 

USDA
export sales

Very
good all around…

Old
crop and new-crop combined for US soybean meal export sales were impressive at over 525,000 short tons. New crop corn export sales were withing expectations at 2.6 million tons.  Old crop soybeans were withing expectations but new crop was larger than expected. 
Soybean oil sales were good for old and new crop.  All wheat sales topped 600,000 tons, and total commitments are highest since 2014-15.  US pork sales were 30,300 tons.  Old crop sorghum sales showed a net reduction of 13,300 tons but new crop added 211,600
tons, including 75,600 tons for China. 

 

 

 

Macros

·        
US Initial Jobless Claims Aug 1: 1186K (est 1400K; prevR1435K; prev 1434K)

·        
US Continuing Claims Jul 25: 16107K (est 16900K; prevR16951K; prev 17018K)

 

Corn.

• Corn
  futures ended mixed with Sep and Dec slightly higher, Mar unchanged and back months slightly lower.  Wheat prices were sharply lower witch limited upside movement in corn after USDA reported very good export sales.  The large sales announcements didn’t surprise
  given the large China corn announcement last week. Look for a two-sided trade in corn, soybean complex, and wheat today.   US weekly ethanol production reported yesterday was slightly bearish for corn. 
  
• Dry
  weather is expected through Saturday for the Eastern Corn Belt.  While it may be drying down, the temps are mild and should cause no crop issues.
  
• ProAgro
  raised its Ukraine 2020 corn harvest forecast to 38.86 million tons from 38.49 MMT previously.
  
• This
  week marks the 15^th anniversary of the Energy Policy Act of 2005, creating the Renewable Fuel Standard. 
  https://ethanolrfa.org/wp-content/uploads/2020/08/RFS-15th-Anniversary-Publication-Final.pdf
  

 

Corn
Export Developments

• None
  reported

 

Source:
Reuters and FI

 

Updated
8/3/20

• September
  corn is seen in a $3.00 and $3.25 range.  December lows could reach $2.95 (Updated 8/3).  The US is staring down at a large crop. 
  

 

Soybean
complex.

• US
  soybeans ended 0.25-1.50 cents lower led by bear spreading.  Lack of direction and lower soybean meal limited soybeans to the upside, despite USDA reporting a very good US export sales report for the entire soybean complex.  Soybean meal export sales for old
  and new-crop combined topped 525,000 short tons.  Gulf soybean meal basis firmed $2.00 from yesterday.  We are a little baffled soybean meal futures ended $1.50-$1.80/short ton lower. 
  
• USDA
  soybean oil sales were also very good and included 8,600 tons old crop to China switch from South Korea and 20,000-ton shipment for China.  This supported soybean oil.  Palm oil futures were up on Thursday. 
  
• USDA
  announced 126,000 tons of soybeans for 2020-21 delivery to China. 
• At
  least 4 soybean cargoes traded to China late Wednesday, 3 from the US and at least one from Brazil.  This brings total buying to 30 to 35 cargoes over the past three days, with 20-25 from Brazil (Jan-July 2021) and 10 from the US (2020). 
  

• Brazil
  2021 Soybean exports seen at 83 MLN tons, up 2% YoY, according to Safras.
• Abiove
  sees the 2019-20 Brazil soybean crop at 125.5 million tons, 0.5 million above their previous estimate. 
  
• China
  National Grain and Oils Information Center estimated soybean imports for 2019-20 at 96.5 million tons, up 2.5 million tons from an earlier estimate.

 

Indonesia:
Oilseeds and Products Update – 2020-21 soybean imports expected to increase 2.7MMT

https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Oilseeds%20and%20Products%20Update_Jakarta_Indonesia_08-01-2020

 

 

Oilseeds
Export Developments

• Under
  the 24-hour announcement system, private exporters reported to the U.S. Department of Agriculture export sales of 126,000 tons of soybeans for delivery to China during the 2020-21 marketing year. 
  

• South
  Korea’s Nonghyup Feed Inc. (NOFI) seeks up to 13,000 tons of rapeseed meal from India and a range of other animal feed meals (palm kernel expeller meal, copra meal and corn gluten feed), for arrival around Oct. 20.

 

Updated
8/3/20

• September
  soybeans are seen in a $8.65-$9.05 range.
• September
  soybean meal is seen in a $280 to $295 range. 
• September
  soybean oil range is seen in a 29.00 to 32.50 range.

 

Wheat

• US
  wheat futures ended sharply lower.  Chicago Sep wheat ended at nearly a one-month low. KC and MN traded and ended at fresh contract lows. 
  
• All-wheat
  export sales were good at just over 600,000 tons.  USDA export sales total commitments are now running at their highest level since 2014-15. 
  
• Paris
  December wheat was down 0.25 euros at 179.50.  
• Russia
  will export 36.4 million tons of wheat and around 4 million tons of corn from July 2020 to June 2021, according to SovEcon Center. 
  
• ProAgro
  raised its Ukraine 2020 wheat harvest forecast to 26.59 million tons from 26.07 MMT. 
  
• Yesterday
  farmer advisory service FarmLink Marketing Solutions estimated the Canadian wheat crop at nearly 39 million tons, which would be above the previous record of 37.6 million tons set in 2013.  This contradicts other estimates. 
  
• The
  FAO world food price index averaged 94.2 points in July versus a slightly revised June figure of 93.1 points.

 

Export
Developments.

• South
  Korean flour mills bought 57,400 tons of US wheat.  27,400 tons was bought for shipment between Nov. 15 and Nov. 30, and around 30,000 tons was bought for shipment between Nov. 10 and Nov. 25. 
  
• Pakistan
  bought around 60,000 tons of optional origin 11.5% protein content wheat at around $233.50 c&f for shipment in the first half of September.

• Syria
  looks to sell and export 100,000 tons of feed barley with offers by Sep 1. 
  
• Jordan
  seeks 120,000 tons of optional origin wheat on August 12 for Nov-Dec shipment. 
  

 

Rice/Other

·        
Mauritius seeks 6,000 tons of white rice on August 17 for October through December delivery. 

·        
South Korea’s Agro-Fisheries & Food Trade Corp. seeks 60,556 tons of rice from Vietnam and other origins, on Aug. 19, for arrival in South Korea between Dec. 31, 2020, and February 28, 2021.

 

Updated
8/5/20

• Chicago
  September is seen in a $4.95-$5.40 range.
• KC
  September; $4.10-$4.55 range. 
• MN
  September $4.90-$5.40 range.

 

 

U.S. EXPORT SALES FOR WEEK ENDING 7/30/2020                            

	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	272.7	1,727.1	1,532.2	277.7	2,070.1	2,154.8	0.0	0.0
SRW	88.7	704.1	779.8	44.5	311.2	430.0	0.0	0.0
HRS	151.8	1,852.0	1,577.7	108.1	1,155.3	861.8	5.0	5.0
WHITE	92.2	1,214.9	987.0	157.7	803.8	636.5	0.0	0.0
DURUM	0.1	197.0	325.2	10.1	187.9	79.8	0.0	0.0
TOTAL	605.5	5,695.1	5,202.0	598.1	4,528.3	4,162.9	5.0	5.0
BARLEY	0.6	36.5	47.4	0.3	2.7	9.3	0.0	0.0
CORN	101.6	5,093.8	3,244.5	685.5	38,688.8	46,683.3	2,599.5	10,927.1
SORGHUM	-13.3	539.0	180.1	171.6	3,812.3	1,512.2	211.6	1,195.6
SOYBEANS	345.2	6,979.8	6,869.4	814.1	39,960.9	41,901.1	1,405.0	15,136.2
SOY MEAL	328.3	1,890.4	1,972.1	232.5	10,109.0	9,704.4	203.9	761.1
SOY OIL	24.4	192.0	157.4	47.5	1,077.3	718.2	11.1	32.0
RICE
L G RGH	0.0	93.3	444.0	0.0	1,329.4	10.1	0.1	75.6
M S RGH	0.0	23.2	42.4	0.3	73.2	1.1	0.0	5.7
L G BRN	0.0	9.6	3.7	0.3	59.4	0.4	0.0	0.0
M&S BR	0.0	31.7	0.2	0.1	87.7	0.0	0.0	0.0
L G MLD	2.5	36.3	424.9	33.1	897.9	15.5	1.4	1.4
M S MLD	0.0	65.3	192.4	15.3	683.0	12.1	3.7	3.8
TOTAL	2.6	259.3	1,107.6	49.1	3,130.6	39.2	5.2	86.5
COTTON		THOUSAND RUNNING BALES
UPLAND	-68.5	2,925.4	9,754.1	346.8	14,131.0	72.8	130.8	3,677.0
PIMA	0.0	120.5	231.7	16.3	483.0	2.2	13.3	51.8

                                                                                                                                         

 

Export Sales Highlights   

This summary is based on reports from exporters for the period July 24-30, 2020.

 

Wheat:  Net sales of 605,500 metric tons (MT) for 2020/2021 were down 11 percent from the previous week, but up 2 percent
from the prior 4-week average.  Increases primarily for China (85,000 MT, including decreases of 3,000 MT), Indonesia (78,000 MT, including 57,800 MT switched from China), Brazil (63,500 MT, including 3,500 MT switched from unknown destinations), Thailand
(61,200 MT), and Nigeria (51,500 MT, including decreases of 61,000 MT), were offset by reductions for Italy (1,900 MT) and Sri Lanka (1,000 MT).  Exports of 598,100 MT were up 18 percent from the previous week and 15 percent from the prior 4-week average. 
The destinations were primarily to Indonesia (115,500 MT), the Philippines (102,800 MT), Japan (91,200 MT), Mexico (60,500 MT), and South Korea (56,400 MT).  

 

Corn:  Net sales of 101,600 MT for 2019/2020 were down noticeably from the previous week and down 70 percent from the
prior 4-week average.  Increases primarily for Colombia (108,600 MT, including 49,500 MT switched from unknown destinations and decreases of 19,700 MT), Mexico (83,100 MT, including decreases of 1,500 MT), Japan (9,000 MT, including 46,600 MT switched from
unknown destinations and decreases of 2,300 MT), Canada (7,200 MT, including decreases of 200 MT), and Jamaica (4,900 MT, including decreases of 2,000 MT), were offset by reductions for unknown destinations (102,700 MT), Honduras (7,800 MT), Venezuela (5,500
MT), Taiwan (4,500 MT), and Nicaragua (3,500 MT).  For 2020/2021, net sales of 2,600,000 MT primarily for China (1,937,000 MT), unknown destinations (276,000 MT), Mexico (252,500 MT), Colombia (84,000 MT), and Taiwan (18,500 MT) were offset by reductions for
Japan (18,000 MT) and Nicaragua (8,500 MT).  Exports of 685,500 MT were down 29 percent from the previous week and 34 percent from the prior 4-week average.  The destinations were primarily to Japan (296,700 MT), Mexico (184,700 MT), Colombia (109,600 MT),
Peru (38,200 MT), and El Salvador (26,600 MT).  Optional Origin Sales:  For 2019/2020, the current outstanding balance of 455,000 MT is for South Korea (325,000 MT), Vietnam (65,000 MT), and Taiwan (65,000 MT).  For 2020/2021, the current outstanding balance
of 260,000 MT is for Vietnam (195,000 MT) and South Korea (65,000 MT).

 

Barley:  Net sales of 600 MT for 2020/2021 were reported for Japan.  Exports of 300 MT were to South Korea

 

Sorghum:  Net sales reductions of 13,300 MT for 2019/2020 were down noticeably from the previous week and from the prior
4-week average.  Increases reported for China (107,100 MT, including 118,400 MT switched from unknown destinations and decreases of 13,900 MT) and Japan (100 MT), were offset by reductions for unknown destinations 120,500 MT).   For 2020/2021, net sales of
211,600 MT were for unknown destinations (136,000 MT) and China (75,600 MT).    Exports of 171,600 MT were up noticeably from the previous week and from the prior 4-week average.  The destinations were primarily to China (171,600 MT).

 

Rice:   Net sales of 2,600 MT for 2019/2020 were down 89 percent from the previous week and 87 percent from the prior
4-week average.  Increases primarily for Haiti (1,900 MT, including decreases of 100 MT), and Canada (900 MT), were offset by reductions for Liberia (300 MT).   For 2020/2021, net sales of 5,200 MT were primarily for Japan (2,000 MT), Mexico (1,500 MT), Canada
(600 MT), Taiwan (500 MT), and New Zealand (100 MT).  Exports of 49,100 MT were up noticeably from the previous week and up 84 percent from the prior 4-week average.  The destinations were primarily to Haiti (30,300 MT), Japan (13,700 MT), Canada (1,900 MT),
Mexico (1,300 MT), and Saudi Arabia (800 MT).

 

Soybeans:  Net sales of 345,200 MT for 2019/2020 were up 72 percent from the previous week, but down 22 percent from the
prior 4-week average.  Increases primarily for Germany (183,000 MT), Indonesia (67,500 MT, including 55,000 MT switched from unknown destinations and decreases of 4,200 MT), China (58,700 MT, including 65,000 MT switched from unknown destinations and decreases
of 66,000 MT), Bangladesh (54,700 MT, including 55,000 MT switched from unknown destinations and decreases of 3,100 MT), and Egypt (53,400 MT), were offset by reductions primarily for unknown destinations (188,200 MT).  For 2020/2021, net sales of 1,405,000
MT were primarily for China (474,000 MT), Mexico (351,900 MT), unknown destinations (212,500 MT), Egypt (107,000 MT), and Pakistan (70,000 MT).  Exports of 814,100 MT were up 32 percent from the previous week and 57 percent from the prior 4-week average. 
The destinations were primarily to Germany (183,000 MT), China (130,300 MT), Bangladesh (113,700 MT), Indonesia (84,300 MT), and Mexico (77,600 MT).  Exports for Own Account:  For 2019/2020, the current exports for own account outstanding balance is 2,100
MT, all Canada.  Export Adjustments:   Accumulated export of soybeans to the Netherlands were adjusted down 68,386 MT for week ending May 7th, 57,683 MT for week ending July 16th, and 56,918 MT for week ending July 23rd.  The correct destination for these
shipments is Germany and is included in this week’s report.

 

Soybean Cake and Meal:    Net sales of 328,300 MT for 2019/2020 were up 26 percent from the previous week and up noticeably
from the prior 4-week average.  Increases primarily for the Philippines (223,200 MT, including decreases of 1,100 MT), Colombia (37,300 MT, including decreases of 1,400 MT), Mexico (28,500 MT), Venezuela (20,000 MT), and Canada (10,300 MT, including decreases
of 600 MT), were offset by reductions for unknown destinations (2,800 MT), Costa Rica (1,300 MT), and Jamaica (400 MT).    For 2020/2021, net sales of 203,900 MT were primarily for Spain (94,000 MT), Vietnam (50,000 MT), Colombia (29,000 MT), Canada (10,300
MT), and Honduras (7,200 MT).   Exports of 232,500 MT were up 25 percent from the previous week and 3 percent from the prior 4-week average.  The destinations were primarily to the Philippines (76,500 MT), Mexico (38,500 MT), Colombia (33,800 MT), Australia
(25,000 MT), and Canada (23,700 MT).   

 

Soybean Oil:   Net sales of 24,400 MT for 2019/2020 primarily for Guatemala (12,000 MT), China (8,600 MT, switched from
South Korea), the Dominican Republic (7,200 MT, including decreases of 5,900 MT), Nicaragua (2,000 MT), Costa Rica (2,000 MT), were offset by reductions for South Korea (8,600 MT).   For 2020/2021, net sales of 11,100 MT were for South Korea (8,000 MT) and
Mexico (3,100 MT).    Exports of 47,500 MT were up noticeably from the previous week and from the prior 4-week average.  The destinations were primarily to China (20,000 MT), South Korea (16,000 MT), the Dominican Republic (8,100 MT), Mexico (2,200 MT), and
Guatemala (600 MT). 

 

Cotton:  Net sales reductions of 68,500 RB for 2019/2020 were down noticeably from the previous week and from the prior
4-week average.  Increases primarily for Egypt (5,800 RB switched from Turkey), Malaysia (1,400 RB switched from Indonesia), and China (600 RB), were more than offset by reductions primarily for Vietnam (61,300 RB), Turkey (5,900 RB), South Korea (3,500 RB),
El Salvador (2,100 RB), and Indonesia (1,800 RB).  For 2020/2021, net sales of 130,800 RB were primarily for China (46,900 RB), Vietnam (22,100 RB), Indonesia (13,000 RB), Bangladesh (11,000 RB), and Pakistan (8,200 RB).  Exports of 346,800 RB were up 8 percent
from the previous week and 13 percent from the prior 4-week average.  Exports were primarily to China (116,700 RB), Vietnam (103,300 RB), Pakistan (28,900 RB), Turkey (21,200 RB), and Bangladesh (18,500 RB).  No net sales of Pima for 2020/2021 were reported
for the week.  For 2020/2021, net sales of 13,300 RB were primarily for El Salvador (2,600 RB), India (2,500 RB), Austria (2,100 RB), Pakistan (2,100 RB), and Bangladesh (1,100 RB).  Exports of 16,300 RB were up noticeably from the previous week and from the
prior 4-week average.  The destinations were primarily to India (6,600 RB), China (5,200 RB), Djibouti (2,200 RB), Pakistan (1,000 RB), and Peru (900 RB).  Exports for Own Account:  For 2019/2020, new exports for own account totaling 1,000 RB were to China
(400 RB), Vietnam (100 RB), and Malaysia (500 RB).  Exports for own account totaling 12,800 RB primarily for Vietnam (9,000 RB) and China (3,300 RB) were applied to new or outstanding sales. The current exports for own account outstanding balance of 19,600
RB is for China (11,400 RB), Indonesia (3,900 RB),  Bangladesh (2,500 RB), Vietnam (1,300 RB), and Malaysia (400 RB).

 

Hides and Skins: Net sales of 329,500 pieces for 2020 were down 26 percent from the previous week and 37 percent from
the prior 4-week average.  Increases primarily for China (265,100 whole cattle hides, including decreases of 31,700 pieces), South Korea (31,700 whole cattle hides, including decreases of  3,500 pieces), Mexico (30,200 whole cattle hides, including decreases
of 600 pieces), Vietnam (2,400 whole cattle hides), and Thailand (600 whole cattle hides, including decreases of 100 pieces), were offset by reductions primarily for Brazil (600 whole cattle hides).  Exports of 482,500 pieces reported for 2020 were down 11
percent from the previous week, but up 1 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (387,600 pieces), Mexico (35,500 pieces), South Korea (25,100 pieces), Brazil (9,100 pieces), and Turkey (8,100 pieces).

 

Net sales of 80,800 wet blues for 2020 were down 39 percent from the previous week and 4 percent from the prior 4-week
average.  Increases primarily for Italy (53,300 grain splits, 3,800 unsplit, and decreases of 200 unsplit), Vietnam (13,400 unsplit and 100 grain splits), Mexico (7,000 grain splits, including decreases of 300 grain splits and 100 unsplit), and the Dominican
Republic (2,800 grain splits), were offset by reductions for China (200 unsplit).  Exports of 149,100 wet blues for 2020 were up 48 percent from the previous week and 92 percent from the prior 4-week average.  The destinations were primarily to Italy (50,100
unsplit and 10,800 grain splits), China (60,800 unsplit), Vietnam (6,600 unsplit and 3,700 grain splits), Thailand (6,400 unsplit), and Mexico (3,700 grain splits and 1,600 MT unsplit).  Net sales of 689,700 splits were primarily for Vietnam (643,200 pounds). 
Exports of 120,300 pounds were to Vietnam. 

 

Beef:  Net sales of 13,400 MT reported for 2020 were down 55 percent from the previous week and 35 percent from the prior
4-week average.   Increases primarily for Japan (4,600 MT, including decreases of 600 MT), South Korea (3,200 MT, including decreases of 400 MT), Canada (1,200 MT, including decreases of 100 MT), Taiwan (1,100 MT, including decreases 100 MT), and Indonesia
(900 MT), were offset by reductions primarily for Chile (100 MT).  For 2021, net sales of 1,700 MT were primarily for Mexico.  Exports of 17,600 MT were down 4 percent from the previous week, but up 8 percent from the prior 4-week average.  The destinations
were primarily to South Korea (5,600 MT), Japan (4,900 MT), Taiwan (1,800 MT), Canada (1,200 MT), and Mexico (1,100 MT).

 

Pork:  Net sales of 30,300 MT reported for 2020 were down 23 percent from the previous week and 14 percent from the prior
4-week average.  Increases were primarily for Mexico (12,900 MT, including decreases of 200 MT), China (5,600 MT, including decreases of 3,000 MT), Canada  (2,700 MT, including decreases of 400 MT), South Korea (2,200 MT, including decreases of 600 MT), and
Japan (2,100 MT, including decreases of 400 MT).   Exports of 34,400 MT were up 9 percent from the previous week and 6 percent from the prior 4-week average.  The destinations were primarily to Mexico (11,600 MT), China (9,000 MT), Japan (4,100 MT), Canada
(2,300 MT), and South Korea (2,200 MT).