PDF Attached

 

Soybeans
were supported by higher soybean meal while other agriculture commodity markets fell on lack of bullish news. 

 

September
7 (Monday) US holiday trading schedule in excel format

https://bit.ly/3jBe9kw

 

 

Weather
and Crop Progress

 

U.S. Drought Monitor Change Map

MOST
IMPORTANT WEATHER AROUND THE WORLD

  • Typhoon
    Maysak moved across the Korean Peninsula Wednesday and early today producing damaging wind and flooding rain
    • Initial
      reports from the region are as expected with widespread power outages, considerable property damage and a few deaths in southern South Korea
    • Flooding
      has been the biggest issue in eastern North Korea with more than 9.00 inches falling over saturated soil in a short period of time
      • Rice
        damage has likely occurred along with other impacts on crops in both North and South Korea
    • Remnants
      of Maysak will bring on some flooding in northeastern China today and Friday with 2.00 to 7.00 inches of fresh rain falling over saturated soil in Jilin, Liaoning and eastern Inner Mongolia
      • Corn
        and soybean crops are not expected to be seriously impacted, although the region is excessively wet and delays in crop maturation and harvesting are inevitable, especially with Typhoon Haishen headed into the same region for early next week
  • Typhoon
    Haishen will become a super typhoon Friday and reach wind speeds of nearly 150 mph over open water south of the Ryukyu Islands of Japan Saturday
    • Haishen
      was 646 miles east southeast of Okinawa, Japan at 20.9 north, 137.2 east moving northwesterly at 11 mph and producing maximum wind speeds to 109 mph
    • The
      storm will pass to the west of Kyushu, Japan Sunday and reach southern South Korea Sunday into Monday.
      • The
        storm may make landfall very near to the same point that Typhoon Maysak moved inland Wednesday and the path northward will be very similar impacting South and North Korea as well as northeastern China in a very similar manner
        • Two
          storms back to back of this intensity impacting the same areas is very rare and will have a huge impact on all three countries
  • Both
    tropical cyclones noted above will dissipate over northeastern China where 4.00 to 12.00 inches of total rain may occur by Tuesday of next week that will result in serious flooding and some new crop and property damage from Liaoning into eastern Inner Mongolia,
    Jilin and Heilongjiang
    • Corn
      and soybeans should be maturing with some harvesting of corn usually under way at this time of year
      • Too
        much rain in recent weeks and that which is coming through early next week will further delay harvest progress and flooding could raise concern over the quality of soybeans, sugarbeets and any other crop produced in the region.
    • East-central
      China has been and will continue to benefit from net drying conditions through much of next week
    • Southern
      China will experience increasing rain and thunderstorm activity next week, but the precipitation will be greatest in southwestern China through the weekend
    • Xinjiang,
      China will see a mix of weather during the next week that will support late season crop development, but some rain may raise a little concern over cotton fiber quality, but only in a few areas
  • Tropical
    Storm Nana has moved into Belize and will produce heavy rain and flooding from there into Guatemala and southern Chiapas, Mexico
    • The
      storm will also produce heavy rain in southern Veracruz and Oaxaca, Mexico over the next couple of days
    • Remnants
      of the system will move into the eastern Pacific Ocean Friday
    • Flooding
      rain will cause some landslides and may induce some crop and property damage in each of the areas noted above
  • Tropical
    Depression Omar and was well east of the U.S. this morning and northeast of Bermuda moving east away from North America
    • The
      storm will slowly diminish over the next two days and will pose no threat to land and be a minimal threat to shipping
  • Tropical
    Wave coming off the Africa west-central coast today will possibly become the next tropical depression, but it will stay over open water in the Atlantic for much of the next week without threatening land
  • Cold
    air is advertised in North America early through mid-week next week that may induce some frost and freezes
    • Frost
      and a few some freezes will occur Monday in northern Saskatchewan and northwestern Manitoba – damage to crops is possible, but unlikely to be very serious
    • Frost
      and light freezes Tuesday will occur in the northwestern U.S. Plains across southern and eastern parts of Saskatchewan to Manitoba, Canada
      • Crop
        damage in the Prairies will be low except for a few corn, soybean and flax crops in Manitoba and eastern Saskatchewan where some negative impact is expected since crops are not mature
      • Late
        season canola in eastern Canada will be less impacted
      • Crop
        damage in the northwestern U.S. Plains should be quite low if not minimal
    • Frost
      and light freezes Wednesday and Thursday of next week may occur from western and a few central Nebraska locations to Montana and the eastern Dakotas as well as parts of Minnesota
      • Most
        of the lowest temperatures will be in the 30s which should limit crop damage if that is as cold as it gets; however, some upper 20s will be possible near the surface high pressure center over western Nebraska
        • Some
          damage to immature corn and soybeans might occur in the far northwestern Corn Belt, but losses would be low and most of the impact would be on quality, but the event is nearly a week away which leaves plenty of potential for change and the situation will need
          to be closely monitored
    • Some
      soft frost will occur in southeastern Colorado and western Kansas with low temperatures in the middle and upper 30s in the Texas Panhandle during mid-week next week
      • Low
        temperatures in west Texas will fall to the 40s after highs are in the 90s during the weekend
        • Some
          cotton boll lock might occur, but the cold should not last long enough to be a serious threat.
  • Argentina’s
    rainfall this week did not occur in the driest wheat areas, but some improved topsoil moisture has occurred in east-central and northeastern parts of the nation
    • Rainfall
      overnight reached over 2.00 inches near the city of Buenos Aires while rainfall of 0.05 to 0.70 inch occurred in the remaining northeast half of the province
    • Rainfall
      elsewhere varied from 0.05 to 0.57 inch some of that occurring in Santa Fe and Entre Rios where two-day rain totals have provided a short-term bout of relief from dryness
  • Argentina
    rain chances are improving for September 13-16, although confidence is low; the event might be generalized enough to offer greater relief from persistent dryness in parts of the west, but the event is too far out in time to have high confidence
  • Mexico
    rainfall will be greatest in western and southeastern parts of the nation in the coming week
    • Some
      flooding is possible, although the greatest risk of flooding will be from the remnants of Tropical Storm Nana as it moves from Belize to Chiapas, Mexico
    • Some
      flooding rain will also fall indirectly from the tropical storm over southern Veracruz and in Oaxaca where rainfall of 4.00 to 6.00 inches and locally more than a10.00 inches may result
  • Dryness
    remains in Queensland, Australia and that may harm winter crop reproduction in the next two weeks
    • Frost
      and freeze damage already impacted the crop last week
  • Most
    of Australia’s rain will fall in southern most parts of the nation during the next ten days and the moisture will be good where it occurs, but drying in interior South Australia and northern parts of Western Australia is worrying some wheat and barley producers
  • India’s
    monsoon will begin to withdraw next week
  • Rain
    in northern India over the next several days will raise more concern over open boll cotton quality, but the moisture will be good for future winter crop use
  • Heavy
    rain Gujarat, India and Sindh, Pakistan ended earlier this week and the area is drying down favorably
    • The
      drying trend will continue over the next week
  • Ivory
    Coast and Ghana rainfall will slowly increase in the next two weeks, but near term rainfall will be sporadic and light
  • France
    and parts of Germany are going to remain dry biased for the next ten days
  • Drought
    will prevail in central and eastern Ukraine into Bulgaria and from eastern Ukraine into Russia’s Southern Region and western Kazakhstan
  • South
    Africa rainfall began to increase Wednesday and it will continue today and Friday
    • The
      moisture will offer a little relief for the dry areas in western and central wheat and barley production areas; more rain will be needed
  • Brazil
    weather will remain wettest from southeastern Parana into Rio Grande do Sul and Uruguay during the coming week; the moisture will be good for winter crops
  • Ontario
    and Quebec will experience a good mix of rain and sunshine over the next two weeks; some drying will be needed thereafter to induce better crop maturation and harvest conditions
  • Central
    America rainfall will be frequent and significant
  • Central
    through northeastern Europe will be wettest this week with periods of rain continuing to maintain moisture abundance and a good environment for crop development, but drying is needed to mature crops
  • Southeast
    Europe will be dry biased over the coming ten days to two weeks
    • Areas
      from central and eastern Ukraine to central and eastern Bulgaria will see very little rainfall and temperatures will be warmer than usual
      • Faster
        than usual crop maturation and harvest progress is expected this year as long as rainfall stays limited
  • Russia’s
    far eastern New Lands will continue to experience some brief periods of drizzle and light rain over the coming week to ten days
    • Most
      of the precipitation will be very light, but there is some concern over unharvested small grain and sunseed quality
    • Dry
      and warm weather is needed to induce the best maturation and harvest conditions
  • A
    favorable mix of weather will occur over the next ten days in other western CIS locations, but net drying will continue in central and eastern Ukraine, Russia’s Southern Region and western Kazakhstan
    • Temperatures
      will be very warm to hot in this region as well
  • Indonesia
    rainfall continues erratic
    • Central
      and southern Sumatra has been steadily drying recently and needs significant rain
      • Some
        showers and thunderstorms have been noted in the past day or two, but more rain is needed
    • Java
      is also quite dry, but some of that dryness is seasonal
    • Rainfall
      over the next ten days will continue erratic, but at least some rain will fall in each production area at one time or another
    • Rain
      is needed most in parts of Sumatra and western Java
  • Philippines
    weather has been trending a little drier recently and this trend may continue through the weekend and then greater rain may begin to evolve
  • Mainland
    Southeast Asia is getting enough rain to support summer crops, but there is a growing concern over off season water supply since summer rainfall has not been as great as needed to restore those supplies
    • Wednesday’s
      rainfall was a bit too erratic and light resulting in net drying conditions
  • New
    Zealand rainfall will be erratically distributed for a while and temperatures will be a little cooler biased
  • Southern
    Oscillation Index was +10.72 today and it will continue positive with the recent rise slowly leveling off for a while

Source:
World Weather Inc. 

 

Much
of the rain for the Upper Midwest will occur mid next week

 

Bloomberg
Ag Calendar

THURSDAY,
SEPT. 3:

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

FRIDAY,
SEPT. 4:

  • 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
  • CNGOIC’s
    monthly supply-demand report on Chinese feed grains and oilseeds
  • FranceAgriMer
    weekly update on crop conditions
  • Statcan’s
    data on Canada wheat, barley, soy, canola and durum stocks
  • HOLIDAY:
    Thailand

MONDAY,
Sept. 7:

  • China
    trade data on soybean and meat imports
  • International
    Grains Council secretariat briefing on trade
  • EU
    weekly grain, oilseed import and export data
  • Ivory
    Coast cocoa arrivals
  • AB
    Foods trading update
  • HOLIDAY:
    U.S., Brazil, Canada, Thailand

TUESDAY,
Sept. 8:

  • USDA
    weekly corn, soybean, wheat export inspections, 11am
  • U.S.
    crop condition, harvesting progress for soybeans, corn, cotton, 4pm
  • Malaysian
    Palm Oil Council webinar on Middle East, North Africa palm trade
  • Abares
    Australian crop report

WEDNESDAY,
Sept. 9:

  • EIA
    U.S. weekly ethanol inventories, production, 10:30am
  • Brazil
    Unica cane crush, sugar production (tentative)

THURSDAY,
Sept. 10:

  • Malaysian
    Palm Oil Board’s end-Aug. palm oil stockpiles, production, export data
  • Malaysia
    palm oil export data for Sept. 1-10
  • Conab’s
    data on production, area and yield of soybeans and corn in Brazil

FRIDAY,
Sept. 11:

  • USDA’s
    monthly World Agricultural Supply and Demand (Wasde) report, noon
  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
  • 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
  • China
    agriculture ministry’s (CASDE) monthly report on supply and demand
  • New
    Zealand food prices

Source:
Bloomberg and FI

 

USDA
Export Sales

The
soybean complex came within expectations. 

USDA
corn export sales were within expectation but near the top end reflecting the recent 24-hour sales. Sorghum sales were low at 11,900 tons. 

USDA
all-wheat export sales were at the top end of expectations. 

USDA
pork export sales were excellent at 53,600 tons. 

 

 

 

Macros

US
Initial Jobless Claims Aug 29: 881K (est 950K; prevR 1011K; prev 1006K)

US
Continuing Claims Aug 22: 13254K (est 14000K; prevR 14492K; prev 14535K)

US
Non-Farm Productivity Q2 F: 10.1% (est 7.5%; prev 7.3%)

US
Unit Labour Costs Q2 F: 9.0% (est 12.0%; prev 12.2%)

US
Trade Balance Jul: -63.6B (est -58.0B; prevR -53.5B; prev -50.7B)

Canadian
International Merchandise Trade Jul: -2.45B (est -2.50B; prevR -1.59B; prev -3.19B)

 

Corn.

  • December
    corn futures
    ended
    5.0 cents lower in part to lack of bullish news and improving US weather although any rain that occurs in the dry areas if the US Midwest will be too late for the crop, in our opinion.  USDA export sales were excellent of over two million tons. 
  • Funds
    sold an estimated net 16,000 corn contracts. 
  • Reuters
    noted the was limited available loading capacity at Louisiana Gulf grain terminals and some terminals were sold out of capacity through mid-October.
  • China
    sold 1.349 million tons of corn from state reserves at an average price of 2,072 yuan per ton.  This represented only 34 percent of what was offered, lowest volume sold so far this season. 

 

Corn
Export Developments

  • None
    reported. 

 

Updated
8/27/20

  • December
    is seen in a $3.40-$3.85 range. 

 

Soybean
complex
.

 

USDA
Attaché: Brazil Biofuels Annual

https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Biofuels%20Annual_Sao%20Paulo%20ATO_Brazil_08-03-2020

 

Oilseeds
Export Developments

  • Egypt
    bought 47,500 tons of soybean oil for November delivery. 
  • Under
    the 24-hour system, private exporters sold 318,000 tons of soybeans to unknown and 132,000 tons of soybeans to China. 

 

Updated
8/27/20

  • November
    soybeans are seen in a $9.25-$10.00 range.  
  • December
    soybean meal is seen in a $290-$325 range.   
  • December
    soybean oil is seen in a 32.50-35.00 range.  

 

Wheat

  • Paris
    December wheat was unchanged at 188.00 euros. 

 

Export
Developments.

  • Algeria
    bought 180,000 tons of feed barley ay around $214/ton c&f from the Black Sea for October shipment.   
  • Egypt’s
    GASC bought 55,000 tons of Russian wheat at $225.00/ton fob November 5-15 shipment. GASC said it will pay for the grain using letters of credit that guarantee payment within 180 days.  Russia has dominated about 80 percent of Russia’s wheat imports since the
    beginning of the year. 
  • The
    Philippines seek 165,000 tons of feed wheat for Oct/Nov/Dec shipment. 
  • Japan
    seeks 100,000 tons of barley and 80,000 tons of feed wheat pm September 9 for arrival by end of Feb. 
  • Results
    awaited: Syria looks to sell and export 100,000 tons of feed barley with offers by Sep 1. 
  • Japan
    seeks 100,000 tons of barley and 80,000 tons of feed wheat pm September 9 for arrival by end of Feb. 
  • Syria
    seeks 200,000 tons of soft wheat from EU/Russia on Sept. 9 and 200,000 tons of wheat from Russia on Sept. 14.

 

Rice/Other

·        
Syria is in for 39,400 tons of white rice. 

 

Updated
8/31/20

  • December
    Chicago is seen in a $5.30-$5.75 range. 
  • December
    KC $4.50-$5.60.  
  • December
    MN $5.25-$5.70.

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING 8/27/2020                        

                                       

 

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    

219.3

1,863.1

1,379.2

212.5

2,849.5

2,926.2

0.0

10.9

   SRW    

4.1

626.8

657.7

15.6

461.8

786.1

0.0

1.0

   HRS     

248.0

1,984.5

1,670.3

146.0

1,718.8

1,501.3

0.0

5.0

   WHITE   

91.0

1,182.4

889.4

109.3

1,289.6

1,097.1

0.0

0.0

   DURUM  

23.0

273.9

340.0

0.0

213.3

148.1

0.0

0.0

     TOTAL

585.4

5,930.7

4,936.5

483.4

6,533.0

6,458.9

0.0

16.9

BARLEY

0.0

30.8

46.0

0.0

8.4

11.4

0.0

0.0

CORN

95.8

1,965.3

1,010.8

464.2

42,622.2

48,924.1

2,389.1

15,773.2

SORGHUM

11.9

107.9

34.1

133.1

4,529.2

1,692.5

126.5

2,284.1

SOYBEANS

88.1

3,517.5

2,594.1

878.9

43,994.4

46,188.6

1,762.8

24,185.9

SOY MEAL

113.7

1,238.6

1,412.3

159.6

10,920.3

10,634.1

228.8

1,537.6

SOY OIL

4.9

138.3

135.1

6.3

1,134.6

756.5

3.0

105.0

RICE

 

 

 

 

 

 

 

 

   L G RGH

7.3

169.3

378.3

1.1

50.6

126.2

0.0

0.0

   M S RGH

0.0

27.5

27.9

0.4

1.4

2.9

0.0

0.0

   L G BRN

0.1

8.1

8.4

0.6

2.6

1.9

0.0

0.0

   M&S BR

0.1

22.3

0.1

3.8

9.7

0.3

0.0

0.0

   L G MLD

4.4

69.3

209.2

4.6

16.4

126.3

0.0

0.0

   M S MLD

1.5

39.5

91.5

14.9

49.1

51.7

0.0

0.0

     TOTAL

13.4

336.0

715.5

25.5

129.8

309.3

0.0

0.0

COTTON

 

THOUSAND RUNNING BALES      

   UPLAND

131.5

5,731.7

7,155.6

273.9

1,251.5

1,092.0

0.0

329.1

   PIMA

17.3

188.8

116.9

12.1

36.4

37.6

0.0

0.0

 

 

Export Sales Highlights

This
summary is based on reports from exporters for the period August 21-27, 2020.

Wheat:  Net
sales of 585,400 metric tons (MT) for 2020/2021 were down 23 percent from the previous week, but up 4 percent from the prior 4-week average.  Increases primarily for China (250,800 MT), the Philippines (116,400 MT), Japan (59,900 MT, including decreases of
100 MT), Yemen (57,000 MT, including 53,000 MT switched from unknown destinations), and Taiwan (50,900 MT), were offset by reductions for Indonesia (10,300 MT), unknown destinations (3,000 MT), and Nigeria (300 MT).  Exports of 483,400 MT were down 25 percent
from the previous week and 9 percent from the prior 4-week average.  The destinations were primarily to Nigeria (82,500 MT), Vietnam (71,800 MT), Indonesia (66,700 MT), the Philippines (62,900 MT), and Japan (61,000 MT).  

Corn:  Net sales of 95,800 MT for 2019/2020 were
down 65 percent from the previous week and 53 percent from the prior 4-week average.  Increases primarily for China (72,100 MT, including 66,000 MT switched from Taiwan), Mexico (44,100 MT), Colombia (27,000 MT, including decreases of 400 MT), Japan (22,100
MT, switched from unknown destinations), and Trinidad (16,700 MT, late – see below), were offset by reductions for Taiwan (66,100 MT) and unknown destinations (26,900 MT).  For 2020/2021, net sales of 2,389,100 MT primarily for China (1,155,000 MT), unknown
destinations (569,000 MT), Japan (343,600 MT), Guatemala (151,800 MT), and Costa Rica (47,900 MT), were offset by reductions for Peru (8,000 MT).  Exports of 464,200 MT were down 51 percent from the previous week and 55 percent from the prior 4-week average. 
The destinations were primarily to Mexico (224,300 MT), China (137,200 MT), Jamaica (28,800 MT, including 13,900 MT late – see below), Japan (22,100 MT), and Trinidad (16,700 MT, late – see below). 

Optional Origin Sales:  For 2019/2020, options
were exercised to export 65,000 MT to South Korea from other than the United States.  The current outstanding balance of 325,000 MT is for South Korea (195,000 MT), Vietnam (65,000 MT), and Taiwan (65,000 MT).  For 2020/2021, new optional origin sales of 140,000
MT were reported for Taiwan.  The current outstanding balance of 400,000 MT is for Vietnam (195,000 MT), Taiwan (140,000 MT), and South Korea (65,000 MT).

Late Reporting:  For 2019/2020, net sales totaling
16,700 MT were reported late.  These sales were reported for Trinidad.  For 2019/2020, exports totaling 30,600 MT were reported late.  The destination was Trinidad (16,700 MT) and Jamaica (13,900 MT). 

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

Sorghum:  For 2019/2020, total net sales of 11,900
MT reported for China were down noticeably from the previous week and down 82 percent from the prior 4-week average.  For 2020/2021, total net sales of 126,500 MT were reported for China.  Exports of 133,100 MT were up noticeably from the previous week, but
down 30 percent from the prior 4-week average.  The destination was China.

Rice:  Net sales of 13,400 MT for 2020/2021 were
primarily for Nicaragua (3,000 MT), Saudi Arabia (2,400 MT), El Salvador (2,300 MT), Mexico (2,100 MT), and Canada (1,400 MT).  Exports of 25,500 MT were primarily to Japan (12,000 MT), South Korea (3,800 MT), Canada (2,900 MT), Saudi Arabia (2,700 MT), and
Mexico (1,800 MT).

Soybeans: 
Net sales of 88,100 MT for 2019/2020 were up 75 percent from the previous week, but down 57 percent from the prior 4-week average.  Increases primarily for China (83,300 MT, including 66,000 MT switched from unknown destinations), the Netherlands (69,600 MT,
including 64,000 MT switched from unknown destinations), Germany (56,800 MT), Bangladesh (55,000 MT, switched from unknown destinations), and Japan (22,800 MT, including 27,000 MT switched from unknown destinations and decreases of 4,600 MT), were offset by
reductions primarily for unknown destinations (212,000 MT).  For 2020/2021, net sales of 1,762,800 MT primarily for China (1,010,000 MT), unknown destinations (526,000 MT), Vietnam (63,900 MT), Saudi Arabia (55,000 MT), and Taiwan (30,900 MT), were offset
by reductions for the Philippines (1,100 MT) and Malaysia (800 MT).  Exports of 878,900 were down 31 percent from the previous week and 11 percent from the prior 4-week average.  The destinations were primarily to China (465,300 MT), Egypt (73,100 MT), the
Netherlands (69,600 MT), Mexico (57,900 MT), and Germany (56,800 MT). 

Exports for Own Account: 
For 2019/2020, new exports for own account totaling 28,600 MT were to Canada.  Decreases were reported for Canada (50,500 MT).  The current exports for own account outstanding balance is 39,700 MT, all Canada.

Export Adjustments:  Accumulated export of soybeans
to the Netherlands were adjusted down 56,841 MT for week ending August 13th.  The correct destination for these shipments is Germany and is included in this week’s report.  Accumulated exports of soybeans to China were adjusted down 67,923 MT for
week ending August 6th.  These exports were reported in error.

Soybean Cake and Meal: 
Net sales of 113,700 MT for 2019/2020 were up noticeably from the previous week and up 22 percent from the prior 4-week average.  Increases primarily for Canada (71,700 MT, including decreases of 800 MT), Mexico (15,700 MT), Guatemala (14,600 MT, including
14,000 MT switched from El Salvador), Colombia (10,100 MT), and the Philippines (3,300 MT), were offset by reductions for El Salvador (14,000 MT), unknown destinations (3,300 MT), and Ecuador (1,000 MT).  For 2020/2021, net sales of 228,800 MT primarily for
Guatemala (56,500 MT), unknown destinations (48,000 MT), Canada (41,600 MT), Mexico (21,000 MT), and Indonesia (19,800 MT), were offset by reductions for Costa Rica (5,000 MT).  Exports of 159,600 MT were down 31 percent from the previous week and 28 percent
from the prior 4-week average.  The destinations were primarily to the Philippines (49,000 MT), Colombia (23,100 MT), Canada (23,000 MT), Mexico (20,900 MT), and Guatemala (20,600 MT).

Soybean Oil: 
Net sales of 4,900 MT for 2019/2020
resulting in increases primarily for Canada (4,600 MT) and Mexico (400 MT), were offset by reductions for Venezuela (100 MT).  For 2020/2021, total net sales of 3,000 MT were reported for South Korea.  Exports of 6,300 MT were down 83 percent from the previous
week and 75 percent from the prior 4-week average.  The destinations were primarily to Jamaica (4,000 MT), Canada (1,500 MT), Mexico (500 MT), and Honduras (200 MT).

Cotton: 
Net sales of 131,500 RB for 2020/2021 primarily for China (61,400 RB, including decreases of 26,400 RB), Vietnam (30,200 RB, including 1,400 RB switched from South Korea, 700 RB switched from Japan, and decreases of 4,900 RB), Turkey (17,000 RB), Pakistan
(16,700 RB, including decreases of 200 RB), and Indonesia (3,700 RB, including 3,100 RB switched from Japan), were offset by reductions for Japan (4,000 RB), Taiwan (500 RB), Malaysia (200 RB), and El Salvador (200 RB).  Exports of 273,900 RB were primarily
to China (132,200 RB), Vietnam (33,700 RB), Turkey (27,900 RB), Pakistan (14,000 RB), and Malaysia (13,700 RB).  Net sales of Pima totaling 17,300 RB were primarily for India (8,800 RB, including decreases of 100 RB), Pakistan (3,900 RB), and China (3,400
RB).  Exports of 12,100 RB were primarily to China (3,500 RB), India (3,000 RB), Pakistan (1,700 RB), Bahrain (900 RB), and Vietnam (900 RB). 

Exports for Own account: 
For 2020/2021, new exports for own account totaling 6,100 RB were reported for China (4,300 RB) and Vietnam (1,800 RB).  The current exports for own account outstanding balance of 19,700 RB is for China (13,000 RB), Indonesia (3,900 RB), Vietnam (1,800 RB),
and Bangladesh (1,000 RB). 

Hides
and Skins:

Net sales of 357,300 pieces for 2020 were down 11 percent from the previous week and 21 percent from the prior 4-week average.  Increases primarily for China (280,700 whole cattle hides, including decreases of 12,100 pieces), South Korea (19,600 MT whole cattle
hides, including decreases of 700 pieces), Taiwan (17,700 whole cattle hides), Mexico (13,600 whole cattle hides, including decreases of 800 pieces), and Thailand (11,600 whole cattle hides, including decreases of 100 pieces), were offset by reductions primarily
for Japan (100 pieces) and Brazil (100 pieces).  Additionally, net sales of 5,500 kip skins reported for Italy (6,000 kip skins), were offset by reductions for Belgium (500 kip skins).  Exports of 383,500 pieces reported for 2020 were down 19 percent from
the previous week and 20 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (308,600 pieces), South Korea (30,600 pieces), Mexico (23,800 pieces), Brazil (4,700 pieces), and Indonesia (2,500 pieces).  In addition, exports
of 5,100 kip skins were to Belgium.

Net
sales of 141,000 wet blues for 2020 were up 21 percent from the previous week, but down 5 percent from the prior 4-week average.  Increases primarily for China (114,100 unsplit, including decreases of 100 grain splits), Thailand (14,000 unsplit), Taiwan (5,400
unsplit and 100 grain splits), Vietnam (5,100 unsplit), and Mexico (2,500 unsplit, including decreases of 600 grain splits), were offset by reductions primarily for Italy (300 unsplit).  Exports of 133,100 wet blues for 2020 were up 47 percent from the previous
week and 23 percent from the prior 4-week average.  The destinations were primarily to China (39,600 unsplit), Italy (28,400 unsplit and 9,400 grain splits), Thailand (26,000 unsplit), Vietnam (23,300 unsplit), and Mexico (3,400 grain splits and 1,800 unsplit). 
Net sales of 838,100 splits were reported for Vietnam (827,400 pounds, including decreases of 2,500 pounds) and China (10,700 pounds, including decreases of 1,800 pounds).  Exports of 564,100 pounds were to Vietnam.

Beef:
Net sales
of 11,400 MT reported for 2020 were down 4 percent from the previous week and 19 percent from the prior 4-week average.  Increases were primarily for Japan (2,600 MT, including decreases of 500 MT), South Korea (2,000 MT, including decreases of 400 MT), China
(1,800 MT, including decreases of 100 MT), Taiwan (1,500 MT, including decreases of 100 MT),  and Indonesia (1,000 MT).  For 2021, net sales of 400 MT were primarily for Canada.  Exports of 17,400 MT were down 4 percent from the previous week and 2 percent
from the prior 4-week average.  The destinations were primarily to South Korea (5,600 MT), Japan (5,100 MT), Taiwan (1,600 MT), China (1,100 MT), and Hong Kong (1,000 MT).

Pork:
Net sales of 53,600 MT reported for 2020 were up 36 percent from the previous week and up noticeably from the prior 4-week average.  Increases primarily for China (28,700 MT, including decreases of 900 MT), Mexico (14,700 MT, including decreases of 1,500
MT), Japan (2,900 MT, including decreases of 300 MT), Canada (2,000 MT, including decreases of 500 MT), and Chile (1,400 MT), were offset by reductions primarily for Macedonia (200 MT).  For 2021, total net sales of 300 MT were for Australia.  Exports of 32,500
MT were unchanged from the previous week, but down 3 percent from the prior 4-week average.  The destinations were primarily to China (9,700 MT), Mexico (9,400 MT), Japan (4,200 MT), Canada (3,000 MT), and South Korea (1,700 MT).  

September 3, 2020                                         
1             FOREIGN AGRICULTURAL SERVICE/USDA

 

                                                                                                SUMMARY OF EXPORT TRANSACTIONS
                                                                                 REPORTED UNDER THE DAILY SALES REPORTING SYSTEM
                                                                                                FOR PERIOD ENDING AUGUST 27, 2020 

 

COMMODITY                        DESTINATION                                QUANITY (MT)                            MARKETING YEAR                     

CORN                                      CHINA                                             1,155,000 MT 1/                                 2020/2021

CORN                                      UNKNOWN                                        464,032 MT 1/                                 2020/2021

CORN                                      JAPAN                                                100,000 MT 1/                                 2020/2021

SOYBEANS                            CHINA                                                604,000 MT 1/                                 2020/2021

SOYBEANS                            UNKNOWN                                        142,500 MT 1/                                 2020/2021  

 

1/ EXPORT SALES.

 

 

 

Terry Reilly

Senior Commodity Analyst – Grain and Oilseeds

Futures International │190 S LaSalle St., Suite 410│Chicago, IL  60603

W: 312.604.1366

treilly@futures-int.com

AIM: fi_treilly

ICE IM: 
treilly1

Skype: fi.treilly

 

Description: Description: Description: Description: FImail

 

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