PDF attached

 

Happy
weekend.  CFTC Commitment of Traders is delayed until Monday.  I will be continuing to work remotely for at least the second week of December. 

 

USDA
24-hour sales for corn and export sales for wheat supported grains.  Soybean complex saw a boost after India lowered their palm import tax.  Soybean oil gained on meal and provided strength to soybean.  ICE canola also underpinned soybean futures.  We have
several reports due out over the next 14 days.  Estimates for end of month/early Dec can be found in the body of the comment.

 

 

Weather

 

 

MOST
IMPORTANT WEATHER AROUND THE WORLD

  • Brazil’s
    driest areas will be southern Mato Grosso, eastern Bolivia and northern Mato Grosso do Sul to Tocantins and Bahia for the coming week to nearly ten days
  • Argentina’s
    driest areas will be in the south, but some rain is expected
  • Australia
    will be frequently hot in the east and still suffering from dryness for the next ten days
  • India
    is recovering from flooding rain due to Tropical Cyclone Nivar
  • India’s
    next tropical cyclone may hit Sri Lanka more than Tamil Nadu
  • India
    could see a third tropical cyclone early in the week of Dec. 6
  • U.S.
    hard red winter wheat areas will remain drier than usual, despite some opportunity for moisture in the south tonight and Saturday and some sporadic other showers during the following ten days
  • Far
    western U.S. will continue unusually dry except for a few showers in the Pacific Northwest
  • No
    change in dryness is expected in Russia’s Southern Region or Kazakhstan during the next ten days, but periods of snow and rain will fall in Ukraine and neighboring areas
  • Bitter
    cold remains over the heart of Asia, but not threatening any major winter crop area
  • Costa
    Rica, southern Nicaragua and Panama could become very wet late next week

 

DETAILS

  • Australia’s
    latest heatwave has impacted most agricultural areas the past two days and it will prevail through the weekend and into early next week
    • Daily
      highs in the 90s to 110 degrees Fahrenheit were noted in the past two days and similar to slightly hotter readings will occur through Monday especially in interior eastern parts of the nation
      • Livestock
        stress has been rising as well with grazing conditions deteriorating once again
    • Some
      showers and thunderstorms will occur periodically in the balance of next week through Dec. 12 helping to reduce temperatures, but some fieldwork will be slowed
    • The
      rain is not likely to be abundant enough to seriously bolster soil moisture, but some increase will occur in pockets in southeastern Queensland and northeastern New South Wales Dec. 3-9
    • Some
      replanting of early planted summer crops may be necessary in Queensland where crops have likely withered in excessive heat and dryness recently
    • Additional
      waves of heat will continue for at least the coming ten days
  • Australia’s
    winter crop maturation and harvesting in the far south will advance well around a few periods of rain during the next two weeks
  • Tropical
    Cyclone Nivar moved through southern India Wednesday and Thursday producing 2.00 to more than 10.00 inches of rain
    • Flooding
      resulted and some strong wind occurred along the  coast
    • Damage
      was noted to some personal property and infrastructure
    • Some
      concern over cotton, groundnut and rice conditions has evolved following the storm
  • India
    will experience a second tropical cyclone early next week
    • Landfall
      is expected in southern Tamil Nadu and rainfall of 2.00 to 6.00 inches will result in some local flooding
      • The
        storm may impact Sri Lanka more than India
    • A
      little more damage to sugarcane rice, cotton and a few other crops may result, although this storm will be weaker than Nivar was and it may lose most of its intensity over Sri Lanka
    • A
      third tropical cyclone may impact India’s lower east coast Dec. 6-8, although confidence is low
  • Brazil
    rainfall was erratic and mostly light during the past two days
    • Rainfall
      was greatest from parts of Mato Grosso into central Goias and from Rio Grande do Sul into southern Paraguay and a few areas in southwestern Mato Grosso do Sul
      • Amounts
        were mostly 0.20 to 1.00 inch, although some 1.00 to 2.00-inch plus amounts occurred in western Rio Grande do Sul and in a few far southwestern Paraguay locations
      • Temperatures
        were warm to hot in the far west and extreme south with highs in the 90s to 104 degrees Fahrenheit
  • Brazil
    will experience net drying through mid-week next week from southwestern Mato Grosso and eastern Bolivia through Mato Grosso do Sul to Bahia
    • Crops
      in this region will become stressed especially those in sandier soil and in those areas that missed the greatest rain in this past week
  • Northern
    and eastern Mato Grosso to Tocantins, Brazil will experience some periodic rain over the next two weeks maintaining relatively good crop conditions
  • Southern
    Brazil from Rio Grande do Sul to  southeastern Minas Gerais will get rain in this coming week bolstering soil moisture and easing dryness
    • Rain
      totals by this time next week will range 1.00 to 3.00 inches and locally more in Rio Grande do Sul
  • Brazil
    December 3-9 weather will be much improved in the drier areas with scattered showers and thunderstorms expected proving some timely relief after recent drying; however, more rain will be needed to fully restore soil moisture to normal
  • Argentina
    rainfall the past two days was greatest in the far north and especially the northeast
    • Rainfall
      of 0.40 to 1.58 inches occurred in Chaco, northeastern Santa Fe and Corrientes while up to 0.75 inch occurred in far northwestern Santiago del Estero
    • Lighter
      showers occurred in Buenos Aires and northeastern La Pampa with rainfall less than 0.20 inch
    • Temperatures
      were hot in far northern crop areas where readings in the 90s to 110 degrees Fahrenheit resulted
  • Portions
    of southern Argentina are expecting only a limited amount of rain during the next two weeks
    • Scattered
      showers and thunderstorms are likely elsewhere in the nation frequently enough to bolster soil moisture in the northeast most significantly, but some improvement is also expected in central parts of the nation
    • Most
      summer crops will experience a general improving trend because of this coming week’s rain and that which has already occurred, but more rain will be needed
    • Better
      planting, emergence and establishment conditions are expected for corn, soybean, sorghum, sunseed and peanuts as well as cotton
      • Minor
        northern grain and oilseed areas as well as cotton regions will see the greatest rain
  • China
    weather the past two days was dry except in the lower half of the Yangtze River Basin where 0.40 to 2.87 inches of rain resulted
    • Northeastern
      China trended much colder with some temperatures dropping below zero Fahrenheit in snow covered areas
      • A
        portion of China’s winter crop region was snow covered this morning, but temperatures were not threatening and there was no threatening cold expected
  • China’s
    weather will be better mixed over the next two weeks with periods of rain and sunshine alternating to support a good environment for rapeseed and late wheat establishment
    • Some
      areas in the rapeseed region are too wet and need to dry down
    • Wheat
      areas in the north are plenty moist and poised to perform well in the spring
    • Sugarcane
      areas in the far south will experience good maturation and  harvest conditions
  • U.S.
    precipitation over the past two days was greatest Wednesday in the Midwest and from the lower Delta into the southeastern states Wednesday into Thursday
    • Moisture
      totals varied from 0.50 to 1.67 inches from the lower Delta into northern and central Georgia with 3.75 inches occurring in southeastern Louisiana
      • Southern
        Georgia, Florida and portions of North Carolina and Virginia received much less rain with some areas experiencing net drying
      • Midwest
        moisture totals were mostly 0.20 to 0.60 inch, but a few locations in Indiana and Ohio received more than 1.00 inch
    • Not
      much other precipitation of significance was noted, although a few showers occurred in the Pacific Northwest
    • Temperatures
      were seasonable with a slight warmer than usual bias
  • U.S.
    hard red winter wheat areas will receive some welcome rain with a little snow in the Texas Panhandle tonight and Saturday
    • Moisture
      totals will vary from 0.05 to 0.65 inch with the Red River valley area of southern Oklahoma and northern Texas wettest
    • Snowfall
      will range from a dusting to 2 inches with the western Texas Panhandle most likely to be impacted
    • No
      other precipitation of significance is expected, although a little light snow will occur briefly Tuesday into Wednesday in the northwest where accumulations will be minimal
    • Another
      chance for rain and some wet snow will evolve in central Oklahoma and north-central Texas briefly Dec. 4-5
      •  A
        few showers may reach into southeastern wheat areas of Kansas, but without much significance
      • Rain
        in Oklahoma and Texas will not be more than 0.50 inch  and confidence is low
  • Rain
    from the southern Plains tonight and Saturday will advance through the Delta and lower Midwest Saturday and Sunday with rain and snow expected in the eastern Midwest into the middle and northern Atlantic Coast States
    • Moisture
      totals of 0.40 to 1.50 inches will occur with a few greater amounts near the Gulf of Mexico coast and in Ohio
      • Some
        of this precipitation will also impact southern Georgia, southeastern Alabama and northwestern Florida delaying some late season harvest progress once again
  • One
    more U.S. storm system is expected Dec. 4-7 beginning in the central Plains as sporadic light showers Dec. 3-4 and increasing precipitation from the Delta into the lower and eastern Midwest Dec. 4-6 and into the northeastern states Dec. 6-7
    • This
      system has much potential for change, but it may bring more moisture of significance to areas east of the high Plains region
  • U.S.
    Temperatures this week will be warmer than usual in the northern Plains, Great Lakes region and northeastern states as well as in neighboring of Canada while temperatures are a little cooler than usual in the interior western and southern states
    • Dec.
      3-9 weather is not likely to change much, but additional cooling is expected in the Midwest and northeastern states behind the Dec. 4-7 storm system
  • Northern
    Plains, upper Midwest and portions of the western Corn Belt may be driest over the next couple of weeks along with much of the western U.S. excluding a few Pacific Northwest locations
  • West
    Texas precipitation will occur infrequently and quite lightly during the next couple of weeks; any disruption to late season harvesting will be brief and non-threatening to unharvested crop conditions
  • U.S.
    Delta and southeastern states weather should be drier in the Dec. 3-9 period, although the larger storm in the eastern Midwest will likely drag a few showers into the region briefly Dec. 4-6
  • South
    Africa will experience some timely rainfall over the next two weeks to support additional planting of summer crops and the development of previous planted and emerged crops
    • Wheat
      harvesting will advance around the precipitation
  • Portions
    of Russia (including the south), Ukraine and western Kazakhstan will experience periods of light rain and snow over the next ten days which will help either maintain good soil moisture or increase soil moisture for use in the spring
    • Most
      crops are now dormant or semi-dormant limiting their ability to seriously improve establishment until spring
    • Russia’s
      Southern Region will be least impacted by the precipitation
  • Indonesia,
    Malaysia and Philippines weather during the next two weeks will be routinely moist with frequent showers and thunderstorms supporting long term crop development
  • Interior
    parts of mainland Southeastern Asia will be mostly dry over the next ten days
    • Some
      frequent rain will occur along the Vietnam coast due to a strong northeast monsoon flow pattern
    • Local
      flooding may occur, but mostly next week
  • Europe
    weather is expected to continue tranquil over the coming week except in Spain, Portugal and areas east through the Mediterranean region where rain will fall periodically
    • The
      moisture will be great for improving soil moisture for crop use in the spring
    • Precipitation
      will finally increase across central Europe Dec. 3-9
  • North
    Africa will have a great opportunity to receive rain during the coming week improving wheat and barley planting and establishment potentials
    • Rain
      will develop in Morocco and northern Algeria through the weekend while Tunisia temporarily dries down
  • Southern
    Oscillation Index was +7.84 this morning; the index will vary in a narrow range over the next few days
  • Mexico
    precipitation will be quite limited over the coming week favoring summer crop maturation
    • Southern
      areas will be wettest and only light rainfall from scattered showers will result
  • Portions
    of Central America will continue to receive periodic rainfall over the next couple of weeks, but the intensity and frequency of rain will be low in the north
    • Costa
      Rica and Panama will be wettest along with southern Nicaragua
    • A
      region of disturbed tropical weather is expected to evolve next week that could generate a weak tropical cyclone that would impact Costa Rico and southern Nicaragua

·        
West-central Africa will experience erratic rain through the next ten days favoring crop areas close to the coast

·        
East-central Africa rain will be erratic and light over the coming week

·        
New Zealand rainfall will be erratically distributed over the next ten days benefiting most areas, but amounts will be near to below average

    • Temperatures
      will be a little cooler than usual

Source:
World Weather Inc. and FI

 

Bloomberg
Ag Calendar

Friday,
Nov. 27:

  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
  • ICE
    Commitments of Traders report, 1:30pm ET (6:30pm London)
  • NOTE:
    CFTC Commitments of Traders report, usually released on Fridays, will be issued on Monday, Nov. 30, due to Thanksgiving holiday
  • FranceAgriMer
    weekly update on crop conditions

Monday,
Nov. 30:

  • USDA
    weekly corn, soybean, wheat export inspections, 11am
  • U.S.
    winter wheat condition, cotton harvested, 4pm
  • Ivory
    Coast cocoa arrivals
  • Malaysia’s
    Nov. 1-30 palm oil export data
  • U.S.
    agricultural prices paid, received, 3pm
  • CFTC
    to release Commitments of Traders report, delayed from previous week due to U.S. Thanksgiving holiday; regular release schedule resumes Friday
  • HOLIDAY:
    India

Tuesday,
Dec. 1:

  • International
    Coffee Conference, Vietnam, day 1
  • Australia
    Commodity Index
  • U.S.
    Purdue Agriculture Sentiment
  • USDA
    Soybean crush, DDGS production, corn for ethanol, 3pm
  • Virtual
    summit – Resetting the Food System from Farm to Fork
  • CNA
    Outlook for Brazil’s Agriculture in 2020, Sao Paulo
  • New
    Zealand global dairy trade auction

Wednesday,
Dec. 2:

  • EIA
    U.S. weekly ethanol inventories, production, 10:30am
  • Virtual
    Indonesian palm oil conference, day 1
  • International
    Coffee Conference, day 2

Thursday,
Dec. 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
  • ANZ
    Commodity Price
  • Indonesian
    palm oil conference, day 2
  • International
    Coffee Conference, day 3
  • Canada
    Statcan wheat, durum, canola, barley and soybean production

Friday,
Dec. 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
  • China’s
    CNGOIC to publish monthly soy and corn reports
  • FranceAgriMer
    weekly update on crop conditions

Source:
Bloomberg and FI

 

 

 

 

 

 

 

 

See
export sales highlights after the wheat section

 

Corn.

 

 

 

Corn
Export Developments

  • USDA
    announced 302,160 tons of corn were sold to Mexico under the 24-hour announcement system. 
  • South
    Korea KOCOPIA bought 60,000 tons of US corn at around $260 a ton c&f, for shipment in 2021 between Feb. 4 and Feb. 23 from the U.S. Pacific Northwest coast.

 

 

Updated
11/20/20

March
corn is still seen trading up into the $4.40‐$4.50 area.

 

 

 

Soybean
complex
.
 

 

Oilseeds
Export Developments

 

 

 

Updated
11/19/20

January
soybeans are seen in a $11.40‐$12.10 range

January
soybean meal is seen trading above $4.20 range

January
soybean oil is seen in a 37.00-39.00 cent range.

 

Wheat

 

Export
Developments.

 

Rice/Other

  • Lowest
    offer for Bangladesh in for 50,000 tons of rice was $416.00/ton.  Separate import tender below. 
  • Bangladesh
    seeks 50,000 tons of rice on December 2 for shipment within 40
  • Syria
    seeks 25,000 tons of white rice on December 2. 

 

Updated
11/18/20

March
Chicago wheat is seen in a $5.90‐$6.40 range

March
KC wheat is seen in a $5.45‐$5.90 range

March
MN wheat is seen in a $5.40‐$5.85 range

 

Export Sales Highlights 

This summary is based on reports from exporters for the period November 13-19, 2020.

 

Wheat:  Net sales of 795,700 metric tons (MT) for 2020/2021–a marketing-year high–were up noticeably from the previous week and up 74 percent from the prior 4-week average.  Increases primarily for China (333,000
MT, including 130,000 MT switched from unknown destinations), Japan (109,900 MT), unknown destinations (69,800 MT), Nigeria (63,000 MT), and the Philippines (62,400 MT), were offset by reductions for Italy (4,800 MT).  Exports of 343,200 MT were up 27 percent
from the previous week, but down 1 percent from the prior 4-week average.  The destinations were primarily to Mexico (75,700 MT), China (63,000 MT), Nigeria (49,000 MT), Guatemala (33,500 MT), and the Philippines (32,400 MT).  

 

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

 

Corn:  Net sales of 1,665,600 MT for 2020/2021 were up 53 percent from the previous week, but down 4 percent from the prior 4-week average.  Increases were primarily for Mexico (555,000 MT, including decreases
of 1,000 MT), unknown destinations (524,400 MT), Colombia (147,200 MT, including 135,000 MT switched from unknown destinations and decreases of 27,800 MT), South Korea (132,700 MT), and China (75,900 MT).  Exports of 871,100 MT were up 3 percent from the previous
week and 15 percent from the prior 4-week average.  The destinations were primarily to Mexico (339,300 MT), China (200,900 MT), Colombia (155,200 MT), Japan (116,100 MT), and Guatemala (17,000 MT).  

 

Optional Origin Sales:  For 2020/2021, new optional origin sales of 134,000 MT were reported for South Korea.  Decreases totaling 130,000 MT were reported for Japan.  The current outstanding balance of 1,454,600
MT is for South Korea (769,000 MT), Taiwan (205,000 MT), unknown destinations (167,600 MT), Vietnam (130,000 MT), China (65,000 MT), Ukraine (60,000 MT), and Japan (58,000 MT).  

 

Barley:  No net sales were reported for the week.  Exports of 600 MT were to Japan.

 

Sorghum:  Net sales of 355,800 MT for 2020/2021 were up noticeably from the previous week and up 97 percent from the prior 4-week average.  Increases were reported for China (300,800 MT, including 61,200 MT switched
from unknown destinations and decreases of 6,500 MT) and unknown destinations (55,000 MT).  Exports of 120,900 MT were down 53 percent from the previous week, but up 1 percent from the prior 4-week average.  The destination was China.  

 

Rice:  Net sales of 69,500 MT for 2020/2021 were up 23 percent from the previous week and 17 percent from the prior 4-week average.  Increases primarily for Japan (52,000 MT), Mexico (7,400 MT), Saudi Arabia
(4,300 MT), Canada (2,400 MT), and Israel (1,800 MT), were offset by reductions primarily for Brazil (1,100 MT), New Zealand (900 MT), and El Salvador (400 MT).  Exports of 145,600 MT–a marketing-year high–were up 70 percent from the previous week and 94
percent from the prior 4-week average.  The destinations were primarily to Mexico (57,800 MT), Venezuela (29,300 MT), Brazil (27,200 MT), Guatemala (11,100 MT), and Saudi Arabia (5,300 MT).

 

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

 

Soybeans:  Net sales of 768,100 MT for 2020/2021–a marketing-year low–were down 42 percent from the previous week and 47 percent from the prior 4-week average.  Increases primarily for China (578,700 MT, including
330,000 MT switched from unknown destinations and decreases of 2,500 MT), Egypt (167,700 MT, including 55,000 MT switched from China and decreases of 2,500 MT), Germany (125,400 MT), Indonesia (100,800 MT, including 68,000 MT switched from unknown destinations
and decreases of 100 MT), and Thailand (75,500 MT, including 66,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (738,900 MT).  Exports of 2,412,200 MT were down 4 percent from the previous week and 11
percent from the prior 4-week average.  The destinations were primarily to China (1,668,000 MT), Mexico (126,000 MT), Germany (125,400 MT), Indonesia (99,500 MT), and Egypt (87,700 MT).  

 

Optional Origin Sales:  For 2020/2021, the current outstanding balance of 63,000 MT, all China.

 

Exports for Own Account:  For 2020/2021, new exports for own account totaling 25,200 MT were to  Canada.  The current exports for own account outstanding balance is 54,900 MT, all Canada.

 

Export Adjustment:  Accumulated export of soybeans to the Netherland were adjusted down 68,651 MT for week ending November 5th and 56,763 MT for week ending November 12th.  The correct destination for these shipments
is Germany and is included in this week’s report.  

 

Soybean Cake and Meal:  Net sales of 138,100 MT for 2020/2021, resulting in increases primarily for Canada (52,400 MT, including decreases of 700 MT), Mexico (22,700 MT), Guatemala (16,500 MT, including decreases
of 500 MT), Colombia (11,000 MT, including 15,000 MT switched from unknown destinations and decreases of 7,800 MT), and Morocco (11,000 MT), were offset by reductions primarily for unknown destinations (16,900 MT).  Exports of 263,200 MT were primarily to
Spain (52,200 MT), Mexico (45,800 MT), Japan (33,500 MT), the Dominican Republic (31,300 MT), and the Philippines (23,200 MT).  

 

Soybean Oil:  Net sales of 26,300 MT for 2020/2021, increases were primarily for South Korea (9,600 MT), Colombia (8,500 MT), Venezuela (4,000 MT), the Dominican Republic (2,000 MT), and Canada (1,200 MT).  For
2021/2022, total net sales of 600 MT were for Canada.  Exports of 1,400 MT were primarily to Mexico (700 MT) and Canada (600 MT).

 

Cotton:  Net sales of 354,700 RB for 2020/2021 were up noticeably from the previous week and up 84 percent from the prior 4-week average.  Increases primarily for Vietnam (169,500 RB, including decreases of 13,200
RB), Bangladesh (89,400 RB), Turkey (28,700 RB), China (28,000 RB, including 900 RB switched from Hong Kong and decreases of 63,900 RB), and Pakistan (10,500 RB), were offset by reductions for Hong Kong (900 RB) and Costa Rica (400 RB).  For 2021/2022, net
sales of 38,500 RB were for China (37,000 RB), Mexico (1,100 RB), and Costa Rica (400 RB).  Exports of 183,000 RB were down 34 percent from the previous week and 32 percent from the prior 4-week average.  Exports were primarily to China (89,500 RB), Vietnam
(20,900 RB), Pakistan (19,700 RB), Mexico (16,700 RB), and Bangladesh (8,400 RB).  Net sales of Pima totaling 26,900 RB were up noticeably from the previous week and up 45 percent from the prior 4-week average.  Increases primarily for China (10,400 RB), Vietnam
(4,900 RB), India (4,500 RB, including decreases of 100 RB), Peru (2,900 RB), and Hong Kong (2,600 RB), were offset by reductions for Bangladesh (1,000 RB) and Switzerland (400 RB).  Exports of 21,700 RB were up 14 percent from the previous week and 11 percent
from the prior 4-week average.  The destinations were primarily to India (6,700 RB), Bangladesh (5,000 RB), China (4,300 RB), Vietnam (1,900 RB), and Pakistan (1,900 RB).   

 

Exports for Own Account:  For 2020/2021, new exports for own account totaling 20,200 RB were to China (19,400 RB) and Vietnam (800 RB).  The current exports for own account outstanding balance of 31,900 RB is
for China (29,800 RB), Bangladesh (1,000 RB), Vietnam (800 RB), and Indonesia (300 RB).

 

Hides and Skins:  Net sales of 367,100 pieces for 2020 were up 34 percent from the previous week, but down 1 percent from the prior 4-week average.  Increases primarily for China (259,100 whole cattle hides,
including decreases of 10,400 pieces), South Korea (46,900 whole cattle hides, including decreases of 3,700 pieces), Mexico (29,600 whole cattle hides, including decreases of 700 pieces), Thailand (15,500 whole cattle hides, including decreases of 200 pieces),
and Cambodia (11,600 whole cattle hides), were offset by reductions primarily for Indonesia (500 pieces) and Taiwan (400 pieces).  For 2021, net sales of 111,800 pieces were reported for China (95,900 whole cattle hides), South Korea (14,100 whole cattle hides),
and Vietnam (1,800 whole cattle hides).  Additionally, total net sales reductions of 500 kip skins were for Belgium.  Exports of 356,700 pieces reported for 2020 were down 24 percent from the previous week and 11 percent from the prior 4-week average.  Whole
cattle hides exports were primarily to China (257,700 pieces), South Korea (40,100 pieces), Mexico (30,100 pieces), Thailand (7,100 pieces), and Cambodia (6,000 pieces). In addition, exports of 5,100 kip skins were to Belgium.  

 

Net sales of 59,500 wet blues for 2020 were down 27 percent from the previous week, but up 2 percent from the prior 4-week average.  Increases were primarily for China (26,700 unsplit), Thailand (20,000 unsplit),
Vietnam (10,000 unsplit, including decreases of 200 unsplit), Mexico (2,100 unsplit and 700 grain splits), and India (2,600 unsplit).  For 2021, net sales of 6,100 wet blues reported for Italy (6,000 grain splits and 1,500 unsplit), the Dominican Republic
(1,600 unsplit), and Brazil (1,000 unsplit), were offset by reductions for China (4,000 unsplit).  Exports of 55,400 wet blues for 2020 were down 58 percent from the previous week and 67 percent from the prior 4-week average.  The destinations were reported
to Vietnam (20,900 unsplit and 1,800 grain splits), China (14,800 unsplit), Thailand (7,000 unsplit), Brazil (4,200 grain splits and 2,400 unsplit), and Mexico (3,500 grain splits and 900 unsplit).  Net sales of 99,500 splits were reported for Vietnam (57,800
pounds, including decreases of 28,600 pounds), Taiwan (40,000 pounds), and China (1,600 pounds, including decreases of 500 pounds).  For 2021, total net sales reductions of 46,900 splits were for Vietnam.  Exports of 404,900 pounds were to Vietnam (277,500
pounds) and China (127,400 pounds).

 

Beef:  Net sales reductions of 15,500 MT reported for 2020–a marketing-year low–were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for China (2,000 MT, including
decreases of 100 MT), Japan (1,800 MT, including decreases of 2,700 MT), Kuwait (100 MT), Singapore (100 MT), and Italy (100 MT), were more than offset by reductions primarily for South Korea (10,800 MT), Mexico (3,300 MT), Hong Kong (2,100 MT), and Taiwan
(1,500 MT).  For 2021, net sales reductions of 1,500 MT were primarily for Japan (1,000 MT), Taiwan (800 MT), and Vietnam (300 MT), were more than offset by reductions for South Korea (3,200 MT).  Exports of 20,200 MT were down 10 percent from the previous
week, but up 9 percent from the prior 4-week average.  The destinations were primarily to South Korea (5,300 MT), Japan (5,100 MT), China (2,900 MT), Mexico (2,300 MT), and Hong Kong (1,700 MT).

 

Export Adjustments:  Accumulated export of beef to Japan were adjusted down 314 MT for week ending November 5th.  This shipment was reported in error. 

 

Pork:  Net sales of 18,800 MT reported for 2020 were down 35 percent from the previous week and 47 percent from the prior 4-week average.  Increases primarily for Mexico (9,400 MT, including decreases of 600
MT), Japan (3,900 MT, including decreases of 200 MT), China (2,500 MT, including decreases of 600 MT), Canada (1,000 MT, including decreases of 400 MT),  and the Dominican Republic (800 MT), were offset by reductions primarily for South Korea (800 MT).  For
2021, net sales of 6,600 MT were primarily for South Korea (2,200 MT), Canada (1,900 MT), Colombia (1,000 MT), Australia (600 MT), and China (500 MT).  Exports of 40,900 MT were up 6 percent from the previous week and 8 percent from the prior 4-week average. 
The destinations were primarily to China (14,400 MT), Mexico (11,800 MT), Japan (5,500 MT), Canada (2,100 MT), and South Korea (2,000 MT). 

 

U.S. EXPORT SALES FOR WEEK ENDING 11/19/2020 

  

 

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    

155.9

1,532.8

1,223.7

190.3

4,836.5

4,714.0

0.0

22.0

   SRW    

20.0

419.7

544.7

13.2

967.9

1,401.5

0.0

100.0

   HRS     

114.6

1,510.4

1,237.2

63.9

3,441.7

3,279.4

0.0

45.0

   WHITE   

501.9

2,485.3

860.6

48.0

2,304.2

2,293.2

0.0

20.0

   DURUM  

3.4

177.4

211.3

27.9

369.8

461.6

0.0

0.0

     TOTAL

795.7

6,125.5

4,077.5

343.2

11,920.1

12,149.8

0.0

187.0

BARLEY

0.0

30.4

34.9

0.6

12.4

24.2

0.0

0.0

CORN

1,665.6

27,621.1

8,219.8

871.1

9,300.6

5,849.6

0.0

747.0

SORGHUM

355.8

3,230.8

804.5

120.9

1,061.8

102.6

0.0

327.0

SOYBEANS

768.1

27,296.8

10,770.7

2,412.2

24,633.9

14,489.8

0.0

69.0

SOY MEAL

138.1

3,256.5

3,213.4

263.2

1,680.8

1,589.5

0.0

18.1

SOY OIL

26.3

315.9

189.6

1.4

71.6

131.9

0.6

0.6

RICE

 

 

 

 

 

 

 

 

   L G RGH

3.6

267.2

390.7

127.8

460.6

466.3

0.0

0.0

   M S RGH

0.0

19.6

16.9

0.0

9.3

13.9

0.0

0.0

   L G BRN

0.0

10.6

13.8

0.1

11.3

14.9

0.0

0.0

   M&S BR

-0.5

17.6

56.5

1.7

32.6

1.8

0.0

0.0

   L G MLD

5.9

79.9

213.0

5.9

149.4

370.4

0.0

0.0

   M S MLD

60.4

207.4

189.5

10.2

122.3

166.3

0.0

0.0

     TOTAL

69.5

602.3

880.4

145.6

785.7

1,033.5

0.0

0.0

COTTON

 

THOUSAND RUNNING BALES      

   UPLAND

354.7

5,636.8

7,470.4

183.0

3,951.3

2,932.6

38.5

630.1

   PIMA

26.9

255.7

163.9

21.7

223.4

125.5

0.0

0.7

 

 

Terry Reilly

Senior Commodity Analyst – Grain and Oilseeds

Futures International
One Lincoln Center
18 W 140 Butterfield Rd.

Oakbrook Terrace, Il. 60181

W: 312.604.1366

treilly@futures-int.com

ICE IM: 
treilly1

Skype: fi.treilly

 

Description: Description: Description: Description: FImail

 

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