PDF attached does not include fund estimates as they were not available at the time this was sent.

 

Weather

SA Week 1 Accum Precipitation (mm) Forecast

 

MOST
IMPORTANT WEATHER IN THE WORLD

  • Snow
    and rain fell in a part of the southern U.S. Plains Wednesday and early today
    • Moisture
      totals of 0.05 to 0.22 inch occurred in southeastern Colorado while 0.05 to 0.65 inch occurred in south-central and interior southwestern Kansas and much of central and northern Oklahoma
      • Snowfall
        varied from 2 to 5 inches in southeastern Colorado and 3 to 10 inches in northwestern Oklahoma and in a few counties in neighboring southern Kansas
    • The
      moisture was welcome to future wheat development, but western Kansas, southwestern Nebraska and northeastern Colorado failed to get moisture than they needed it most.
  • U.S.
    hard red winter wheat areas will dry down again for the next week with the next chance for precipitation late next week
    • That
      event is unlikely to produce significant moisture in the areas that need it most
  • Southeastern
    Paraguay and southwestern Parana reported more than 3.00 inches of rain overnight bolstering soil moisture in a significant manner
    • Additional
      rain is expected in these areas and across a larger part of Parana through the next few days
    • A
      notable improvement in crop and field conditions will result that should carry crops for a while
  • Rio
    Grande do Sul, Brazil will be moving into a drier biased weather pattern for a while, but rain Wednesday was welcome and there may still be some scattered showers over the coming few days
    • The
      additional moisture will not be very great and more rain will be needed, but the boost in moisture that occurred this week has helped short term crop development
  • Minas
    Gerais, Brazil will experience the greatest precipitation over the next ten days with the ground becoming saturated in some areas – mostly coffee, citrus and sugarcane areas, but some grain and oilseed production areas will also benefit
    • No
      crop damage will occur because of the wetter bias
  • Piaui
    and Bahia will be the two driest states in Brazil during the next ten days
    • Little
      to no rain is expected and the dry down may lead to some rising crop stress for some soybeans, cotton and other crops produced in the region.
      • However,
        subsoil moisture is still rated favorable today and that will carry on normal crop development for a while especially in Bahia; Piaui is not as wet and my experience stress first
  • Other
    areas in Brazil will experience erratic rainfall over the next couple of weeks, but all crop areas will benefit and the bottom line should be favorable or at least one of improvement for many areas.
  • Argentina’s
    rainfall this week from central and northern Cordoba to Chaco, eastern Formosa, Corrientes and Entre Rios has helped to bolster topsoil moisture for improved summer crop development and planting conditions
    • World
      Weather, Inc. believes soil moisture today is about the best it has been all spring; however, net drying is expected over the coming week which may return stress to parts of the west and south without greater rainfall again soon
  • Australia’s
    hottest temperatures are abating, but the past week has been brutal for some of the dryland crop and livestock areas in the nation
    • Unirrigated
      cotton sorghum and other crops in Queensland and may have to be repeated when rain finally resumes; however, not much precipitation is expected for a while
    • Temperatures
      will continue warmer than usual, but not as oppressively hot as they have been
  • Australia’s
    dryness in unirrigated summer crop areas is a big concern and recent livestock stress has returned some concern over the long range outlook for these areas. Bush and forest fires could become a problem again later this summer if there is not significant rain
    soon.
  • Southern
    Russia and other areas near the Black Sea will experience a little more precipitation in December than in November and there will be “some” increase in soil moisture for the region and a little snow cover at times, too; however, moisture deficits will remain
    in at least a part of this region
    • Ukraine
      will receive some periodic rain and snow in the next week to ten days while precipitation in Russia’s Southern region is more limited
  • South
    Africa rainfall will scatter across the nation over the next ten days benefiting most summer crop areas and improving early season emergence and growth eventually
    • Portions
      of the nation are still a little too dry for optimum crop development, but the rain coming should bring improvement
      • Free
        State, western North West and eastern Northern Cape are among the driest areas
  • Tamil
    Nadu, India and northern Sri Lanka were impacted by Tropical Cyclone Burevi Wednesday and early today
    • The
      storm will move to far southern Tamil Nadu and southern Kerala today
    • The
      storm will produce heavy rain in each of these areas regions resulting in some local flooding and minor amount of damage to personal property and agriculture
    • Additional
      waves of rain will continue far southern India and Sri Lanka through early next week, although amounts will be much lighter
      • Total
        rainfall of 2.00 to 5.00 inches will occur in northern Sri Lanka while 3.00 to 8.00 inches occur in southern India through the weekend
      • Sugarcane,
        rice and some cotton will be most impacted by the abundant moisture
  • Other
    areas in India will experience good weather for crop maturation and harvest progress
  • U.S.
    weather was mostly dry Wednesday outside of the southern Plains was mostly dry
  • U.S.
    weather through the weekend presents one storm system
    • Rain
      and snow that evolved in southern, Oklahoma, the northeastern Texas Panhandle and southeastern Colorado Wednesday will abate today and shift its moisture to the east
    • The
      southern Plains storm will diminish while drifting into the Delta today and then intensify in Tennessee and Kentucky Friday before moving northeast through the Middle Atlantic Coast States Saturday
      • Portions
        of the southeastern states will also get rain from this event
      • Moisture
        totals will be less than 0.60 inch in the Delta and vary from 0.20 to 0.75 inch in the southeastern states while eastern Kentucky, eastern Tennessee and areas northeast to New Jersey and Delaware receive 0.65 to 1.50 inches of moisture and locally more near
        the Atlantic Coast
    • Precipitation
      elsewhere in the U.S. will not be very great through the weekend, although some rain and mountain snow will develop in Washington and Oregon
  • U.S.
    weather next week will bring another storm from the southwestern states into the southern Plains during mid-week and then northeast to the Great Lakes region late in the week and into the following weekend
    • A
      couple of follow up storm systems will impact the Delta, lower eastern Midwest and interior southeastern states in the second weekend of the outlook into Dec. 15.
    • Other
      areas will not likely see much precipitation
  • U.S.
    temperatures will be quite warm in the north-central states and New England in this first week of the outlook and then cooling is expected in many areas in the central and northwestern parts of the nation in the following week
  • Snow
    cover in CIS winter crop areas continues restricted in some areas, but there has been no threatening cold in recent days and none was expected through the next ten days
    • Bitter
      cold will be confined to the eastern New Lands and Kazakhstan
  • Brief
    periods of light snow and rain will impact the western CIS over the next ten days; not much improvement in soil moisture is expected in the drier areas  leaving parts of Ukraine, Russia’s Southern Region and Kazakhstan still in need of greater moisture
    • Temperatures
      will be close to normal west of the Ural Mountains and below average to the east
  • Europe
    precipitation is expected to be erratic over the next ten days to two weeks with sufficient amounts in some areas to bolster soil moisture for use in the spring
    • Italy,
      the eastern Adriatic Sea region, parts of the Iberian Peninsula France and the U.K. will be wettest
    • Soil
      moisture is still favorable in much of the continent
    • Temperatures
      will be seasonable with a cool bias in the west and a warm bias in the east
  • North
    Africa rainfall will be greatest and most frequent in the coming week to ten days in northern Algeria, although some beneficial moisture will also impact northeastern Morocco and a few northern areas of Tunisia
    • Greater
      rain is needed in Morocco and northwestern Algeria to improve planting conditions for wheat and barley
  • China
    weather over the next two weeks will include restricted amounts of precipitation and temperatures will be near to slightly below average except in the far northeast where they will be a little warmer biased
    • East-central
      parts of the nation will be wettest keeping some southern wheat and rapeseed areas plenty moist
  • 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
  • Southern
    Oscillation Index was +8.63 today; the index will slowly rise the remainder of this week and into the weekend
  • 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 this workweek

·        
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

    • Amounts
      will be near to above average along the west coast of South Island and in a few southern areas of North Island in this first week of the outlook and below average elsewhere
    • Temperatures
      will be a little cooler than usual

Source:
World Weather Inc. and FI

 

Bloomberg
Ag Calendar

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

 

USDA
export sales

were on the lower end of expectations for the soybean complex, withing for corn and wheat.  Sorghum sales of 238,600 tons were very good with China taking most of it.  Pork sales were 31,300 tons.  See text below the wheat section. 

 

 

 

 

StatsCan:
November estimates of production of principal field crops

                  
2018    2019    2020   2018-2019 2019-2020

                   
thousands of tonnes         % change

Total
wheat      32352   32670   35183         1.0       7.7

Durum
wheat       5785    5017    6571       -13.3      31.0

Spring
wheat     24053   25952   25841         7.9      -0.4

Winter
wheat      2514    1701    2770       -32.4      62.9

Barley           
8380   10383   10741        23.9       3.4

Canary
seed        158     175     161        11.0      -8.2

Canola          
20724   19607   18720        -5.4      -4.5

Chick
peas         311     252     214       -19.2     -14.8

Corn
for grain   13885   13404   13563        -3.5       1.2

Dry
beans          341     317     490        -7.1      54.7

Dry
field peas    3581    4237    4594        18.3       8.4

Fall
Rye           226     326     475        44.1      45.9

Flaxseed          
492     486     578        -1.3      18.9

Lentils          
2192    2382    2868         8.7      20.4

Mustard
seed       174     135      99       -22.5     -26.6

Oats             
3436    4227    4576        23.0       8.2

Soybeans         
7417    6145    6359       -17.1       3.5

Sunflower
seed      57      63     101         9.8      61.0

 

Macros

US
Initial Jobless Claims Nov-28: 712K (exp 775K; R prev 787K)

–        
Continuing Claims Nov-21: 5520K (exp 5800K; R prev 6089K)

US
ISM Non-Mfg PMI Nov: 55.9 (est 56.0; prev 56.6)


Non-Mfg Biz Activity Nov: 58.0 (est 60.9; prev 61.2)


Non-Mfg Employment Index Nov: 51.5 (prev 50.1)


Non-Mfg New Orders Nov: 57.2 (prev 58.8)


Non-Mfg Prices Paid Nov: 66.1 (prev 63.9)

OPEC
Delegate: OPEC+ Discussing Monthly 500K Bpd Supply Increments


OPEC+ Discussing Whether Hikes Start In Jan Or Later

 

Corn.

 

Corn
Export Developments

  • South
    Korea’s KFA bought 64,000 tons of optional origin corn at $239.90/ton for arrival around June 15.
  • South
    Korea’s MFG bought 68,000 tons of optional origin corn at $239.90/ton for shipment between April 27 and May 18.  It may originate from the US. 
  • Results
    awaited: Algeria seeks 35,000 tons of optional origin corn on Thursday for shipment by Jan 5. 

 

 

 

 

Updated
11/30/20

March
corn is
seen
trading in a $4.15 and $4.40 range. 

 

Soybean
complex
.
 

  • CBOT
    soybeans traded higher on a drier southern Brazil weather outlook for next week although not all weather professionals were on board to accept the various model changes.  The midday mentioned rainfall reduction for Parana from the individual we follow, but
    others lowered their rainfall outlook from the overnight models for southern Brazil.  USDA based outlook maps show a drier bias for Argentina (week one) than what we have been reading earlier this week.   The lower USD and bottom picking added to the positive
    undertone.  Argentina still has a way to go in soybean plantings.  Based on developments over the past month, expect USDA to make reduction to the SA production projections in its December update.  They are high relative to many private firms.  But recent
    rain across southern Brazil and Argentina changed our tune.  We expect Conab next week to report a slightly higher production for Brazil soybeans from last month.  Argentina is in question as they need to complete plantings.  Expect China to buy the occasional
    one off US soybean cargo here and there until they fulfill requirements before SA supplies come online. Therefore, a decline in US soybean export demand by China may limit upside in CBOT soybean futures over the short term if weather improves across South
    America.  We will maintain our upper end of the nearby rolling futures crop-year trading range of $12.50 as SA production is not of the woods with weather problems.  Look for focus for CBOT soybean price fluctuations to shift to US domestic demand and spring
    plantings during second half 2020-21 (Sep-Aug). 

  • BAGE
    reported Argentina soybean plantings increased 8.9 percentage points to 48.2% of the 17.2 million hectares of the projected area.
  • Argentina
    union workers called for another 24-hour strike (SOEA) over bonus payments.  CIARA said they already agreed to a salary increase through August. 
  • Celeres
    sees the Brazil soybean crop at 129.5 million tons versus 133.95 million previous, on the lower end of trade expectations.  This may have been perceived as bullish. 
  • No
    USDA 24-hour sales may weigh on soybeans during the day session.  The trade has not seen a soybean 24-hour sales announcement since November 9, but nine corn sales appeared since then through November 30.  USDA export sales for soybeans were near the lower
    end of expectations.  China has slowed US purchases in recent weeks (see the curve in the chart below the export section), but shipments remain robust.  They committed 29.7 million tons for this crop year.  Note in the unknown category, there are 8.8 million
    tons outstanding sales.  USDA export sales for meal and soybean oil were low. 
  • Canadian
    canola production came in less than expectations at 18.7 million tons, down 4.5 percent from last year and lowest in five years.  It was down about 700,000 tons from the previous StatsCan estimate.  Note canola prices hit a 7-year high recently. 
  • CBOT
    soybean oil registrations were down 1 (Mason City) to 1,591 and deliveries were 100 (Cust. JP stopped 94, Rand issued 3 and stopped 1). 
  • EU
    cash soybean oil and rapeseed oil were up 10 euros from the previous day. 
  • China
    cash crush margins improved from yesterday. 
  • Indonesia
    will raise its crude palm oil levy to $55-$255 per ton starting Dec. 10, previously imposed $55 for crude palm oil. Below $670 per ton it will be $55 per ton. For crude palm oil below $670-$695, there will be a $60 per ton levy, etc.  

 

Oilseeds
Export Developments

 

 

Updated
12/02/20

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

January
soybean meal is seen trading in a $375 and $405 range

January
soybean oil is seen in a 36.00-38.50 cent range.

 

Wheat

  • US
    HRW wheat country is still in dire need of good precipitation over the next few months to ease drought conditions.

    USDA is done reporting conditions until early April.  Selected state data will be out once a month. 

 

 

Export
Developments.

  • Turkey
    seeks 400,000 tons of wheat on December 4 for shipment between Jan 8 and Jan 25. 
  • Jordan
    seeks 120,000 tons of wheat on Dec 9 for April through FH May shipment. 
  • Qatar
    seeks 100,000 tons of feed barley on December 8, optional origin. 

 

Rice/Other

  • Results
    awaited:  Bangladesh seeks 50,000 tons of rice for shipment within 40.  L
    owest
    offer for 50,000 tons of rice was $404.35/ton. 

·        
Results awaited:  Syria seeks 25,000 tons of white rice. 

·        
South Korea seeks 45,458 tons of US rice on Dec 7 for arrival around April 30 and May 31. 

 

Updated
11/30/20

March
Chicago wheat is seen in a $5.70‐$6.30 range (lowered 20 & 10 cents, respectively)

March
KC wheat is seen in a $5.30‐$5.80 range (lowered 15 & 10)

March
MN wheat is seen in a $5.40‐$5.75 range (unchanged, down 10)

 

 

 

Export Sales Highlights

This
summary is based on reports from exporters for the period November 20-26, 2020.

 

Wheat:  Net
sales of 446,400 metric tons (MT) for 2020/2021 were down 44 percent from the previous week and 5 percent from the prior 4-week average.  Increases primarily for Mexico (89,400 MT), Taiwan (83,100 MT), South Korea (81,300 MT, including decreases of 1,500 MT),
Indonesia (68,200 MT, including decreases of 900 MT), and unknown destinations (47,000 MT), were offset by reductions primarily for Venezuela (11,000 MT) and the Dominican Republic (6,800 MT).  Exports of 451,500 MT were up 32 percent from the previous week
and 40 percent from the prior 4-week average.  The destinations were primarily to the Philippines (120,800 MT), China (63,000 MT), Indonesia (60,600 MT), Mexico (57,500 MT), and Honduras (34,300 MT).  
Optional Origin Sales:  For 2020/2021, the current outstanding balance of 10,000 MT, all Spain.

Corn: 
Net sales of 1,371,400 MT for 2020/2021 were down 18 percent from the previous week and 14 percent from the prior 4-week average.  Increases primarily for Mexico (656,900 MT, including 30,000 MT switched from unknown destinations and decreases of 9,700 MT),
unknown destinations (351,400 MT), China (154,800 MT), Japan (138,800 MT, including 32,100 MT switched from unknown destinations), and South Korea (62,600 MT), were offset by reductions primarily for Colombia (90,000 MT) and Guatemala (13,100 MT).  Exports
of 1,072,300 MT–a marketing-year high–were up 23 percent from the previous week and 35 percent from the prior 4-week average.  The destinations were primarily to China (475,800 MT), Mexico (312,300 MT), Japan (82,300 MT), Guatemala (59,500 MT), and Honduras
(49,700 MT).  

Optional
Origin Sales:
 
For 2020/2021, new optional origin sales of 60,000 MT were reported for unknown destinations.  Decreases totaling 31,300 MT were reported for Ukraine (27,700 MT) and unknown destinations (3,600 MT).  The current outstanding balance of 1,483,400 MT is for South
Korea (769,000 MT), unknown destinations (224,000 MT), Taiwan (205,000 MT), Vietnam (130,000 MT), China (65,000 MT), Japan (58,000 MT), and Ukraine (32,400 MT). 

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

Sorghum: 
Net sales of 238,600 MT for 2020/2021 were down 33 percent from the previous week and 6 percent from the prior 4-week average.  Increases primarily for China (276,600 MT, including 106,000 MT switched from unknown destinations and decreases of 77,600 MT),
were offset by reductions for unknown destinations (38,000 MT).  Exports of 213,700 MT were up 77 percent from the previous week and 58 percent from the prior 4-week average.  The destination was China. 

Rice: 
Net sales of 71,700 MT for 2020/2021 were up 3 percent from the previous week and 54 percent from the prior 4-week average.  Increases were primarily for Mexico (36,700 MT), Haiti (14,600 MT, including decreases of 300 MT), Costa Rica (11,000 MT), Japan (4,500
MT), and Canada (1,700 MT).  Exports of 138,600 MT were down 5 percent from the previous week, but up 42 percent from the prior 4-week average.  The destinations were primarily to Mexico (71,800 MT), Haiti (45,000 MT), Japan (13,300 MT), Canada (3,200 MT),
and South Korea (1,500 MT).

Soybeans: 
Net sales of 406,900 MT for 2020/2021–a marketing-year low–were down 47 percent from the previous week and 68 percent from the prior 4-week average.  Increases primarily for China (476,900 MT, including 396,000 MT switched from unknown destinations and decreases
of 132,900 MT), Thailand (82,400 MT, including 68,000 MT switched from unknown destinations), Vietnam (78,100 MT, including 70,000 MT switched from unknown destinations), Spain (66,900 MT, including 65,000 MT switched from unknown destinations), and the Netherlands
(66,000 MT, including 60,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (539,100 MT).  Exports of 2,492,600 MT were up 3 percent from the previous week, but down 6 percent from the prior 4-week average. 
The destinations were primarily to China (2,012,200 MT), Vietnam (84,700 MT), Thailand (79,700 MT), Mexico (75,500 MT), and Spain (66,900 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 29,400 MT were to Canada.  The current exports for own account outstanding balance is 84,300 MT, all Canada.

Soybean
Cake and Meal:
 
Net sales of 163,800 MT for 2020/2021, resulting in increases primarily for Mexico (56,100 MT), Bangladesh (45,000 MT), the Philippines (45,000 MT), Ecuador (36,400 MT, including 30,000 MT switched from unknown destinations and decreases of 1,100 MT), and
Guatemala (20,900 MT, including 21,000 MT switched from El Salvador, 200 MT switched from Honduras, and decreases of 500 MT), were offset by reductions primarily for unknown destinations (27,000 MT), Canada (25,400 MT), and El Salvador (11,000 MT).  Exports
of 227,500 MT were primarily to Colombia (40,600 MT), Guatemala (39,900 MT), Ecuador (32,000 MT), Mexico (30,900 MT), and Canada (25,900 MT). 

Soybean
Oil:
 
Net sales of 2,500 MT for 2020/2021, resulting in increases primarily for Costa Rica (2,000 MT), Nicaragua (1,100 MT), Mexico (500 MT), and the Dominican Republic (500 MT), were offset by reductions for Canada (1,700 MT).  Exports of 28,700 MT for 2020/2021
were primarily to the Dominican Republic (17,000 MT), Jamaica (4,000 MT), Venezuela (4,000 MT), and Mexico (2,500 MT).

Cotton: 
Net sales of 277,900 RB for 2020/2021 were down 22 percent from the previous week, but up 33 percent from the prior 4-week average.  Increases were primarily for China (130,800 RB), Vietnam (46,000 RB, including 4,600 RB switched from China and decreases of
5,800 RB), Pakistan (44,500 RB), Turkey (12,500 RB), and Indonesia (11,100 RB).  For 2021/2022, net sales of 21,800 RB were for Vietnam (15,400 RB) and Mexico (6,400 RB).  Exports of 180,800 RB were down 1 percent from the previous week and 29 percent from
the prior 4-week average.  Exports were primarily to China (80,300 RB), Vietnam (27,500 RB), Pakistan (17,000 RB), Bangladesh (12,000 RB), and Mexico (11,700 RB).  Net sales of Pima totaling 7,900 RB were down 71 percent from the previous week and 54 percent
from the prior 4-week average.  Increases were primarily for Peru (3,500 RB), Vietnam (1,800 RB), Honduras (1,200 RB), and Bangladesh (900 RB).  Exports of 27,600 RB–a marketing-year high–were up 27 percent from the previous week and 31 percent from the
prior 4-week average.  The destinations were primarily to India (12,400 RB), China (7,400 RB), Pakistan (4,100 RB), Vietnam (1,600 RB), and Thailand (1,000 RB). 

Exports
for Own Account:
 
For 2020/2021, new exports for own account totaling 13,000 RB were to China.  Exports for own account totaling 2,900 RB to China (2,200 RB) and Vietnam (700 RB) were applied to new or outstanding sales.  The current exports for own account outstanding balance
of 41,900 RB is for China (40,500 RB), Bangladesh (1,000 RB), Indonesia (300 RB), and Vietnam (100 RB).

 

Hides
and Skins:
 
Net sales of 267,400 pieces for 2020 were down 27 percent from the previous week and 25 percent from the prior 4-week average.  Increases primarily for China (150,500 whole cattle hides, including decreases of 15,700 pieces), Mexico (42,400 whole cattle hides,
including decreases of 1,100 pieces), South Korea (32,800 whole cattle hides, including decreases of 1,100 pieces), Brazil (20,000 whole cattle hides), and Thailand (10,600 whole cattle hides), were offset by reductions for Indonesia (100 pieces).  For 2021,
total net sales of 3,600 pieces were reported for China.  Exports of 309,000 pieces reported for 2020 were down 13 percent from the previous week and 18 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (248,900 pieces),
Mexico (24,400 pieces), South Korea (22,200 pieces), Taiwan (4,000 pieces), and Brazil (3,400 pieces).  

 

Net
sales of 223,800 wet blues

for 2020 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for Vietnam (131,000 unsplit, including decreases of 800 unsplit), China (67,100 unsplit, including decreases of 200 unsplit), Brazil (28,900 unsplit),
Italy (1,200 unsplit), and Hong Kong (100 unsplit), were offset by reductions primarily for Taiwan (4,300 unsplit).  For 2021, net sales of 40,800 wet blues were reported for Italy (40,000 unsplit) and Vietnam (800 unsplit).  Additionally, net sales of 5,100
grain splits reported for Germany (6,000 grain splits) and China (4,000 grain splits), were offset by reductions for India (4,900 grain splits).  Exports of 111,200 wet blues for 2020 were up noticeably from the previous week, but down 19 percent from the
prior 4-week average.  The destinations were primarily to Vietnam (47,500 unsplit), China (46,300 unsplit), Thailand (8,700 unsplit), Mexico (3,600 unsplit and 700 grain splits), and Taiwan (1,900 unsplit).  Net sales reductions of 20,700 splits resulting
in increases for Taiwan (2,400 pounds) and China (300 pounds, including decreases of 8,000 pounds), were more than offset by reductions for Vietnam (23,300 pounds).  For 2021, net sales reductions of 56,300 splits were for Vietnam (24,100 pounds) and China
(32,200 pounds).  Exports of 368,700 pounds were to Vietnam (202,100 pounds), China (124,200 pounds), and Taiwan (42,400 pounds).

 

Beef: 
Net
sales of 13,700 MT reported for 2020 were down noticeably from the previous week and down 16 percent from the prior 4-week average.  Increases primarily for Japan (7,200 MT, including decreases of 500 MT), South Korea (3,800 MT, including decreases of 400
MT), Mexico (1,000 MT, including decreases of 100 MT), China (800 MT, including decreases of 100 MT), and Canada (400 MT), were offset by reductions primarily for Hong Kong (300 MT) and Colombia (100 MT).  For 2021, net sales of 3,200 MT were primarily for
South Korea (1,600 MT), Hong Kong (500 MT), Japan (400 MT), and Taiwan (400 MT).  Exports of 16,600 MT were down 18 percent from the previous week and 15 percent from the prior 4-week average.  The destinations were primarily to South Korea (4,000 MT), Japan
(3,900 MT), China (2,100 MT), Mexico (2,000 MT), and Hong Kong (1,200 MT).

Pork: 
Net
sales of 31,300 MT reported for 2020 were up 66 percent from the previous week, but down 6 percent from the prior 4-week average.  Increases primarily for Mexico (12,900 MT, including decreases of 1,000 MT), China (7,400 MT, including decreases of 1,300 MT),
Japan (4,200 MT, including decreases of 300 MT), Canada (1,700 MT, including decreases of 400 MT), and South Korea (1,500 MT, including decreases of 300 MT), were offset by reductions for Vietnam (100 MT) and Costa Rica (100 MT).  For 2021, net sales of 4,200
MT were primarily for China (1,400 MT), Colombia (700 MT), Australia (600 MT), Canada (400 MT), and Mexico (300 MT).  Exports of 34,100 MT were down 17 percent from the previous week and 12 percent from the prior 4-week average.  The destinations were primarily
to Mexico (11,500 MT), China (9,000 MT), Japan (4,700 MT), South Korea (3,000 MT), and Canada (2,000 MT).

 

U.S. EXPORT SALES FOR WEEK ENDING 11/26/2020

 

 





























 

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    

110.6

1,530.5

1,318.8

112.9

4,949.4

4,778.4

0.0

22.0

   SRW     

6.5

393.6

526.0

32.6

1,000.5

1,420.7

0.0

100.0

   HRS     

163.5

1,520.8

1,185.3

153.1

3,594.9

3,366.9

0.0

45.0

   WHITE   

147.5

2,503.1

868.9

129.7

2,433.9

2,314.4

0.0

20.0

   DURUM  

18.2

172.4

175.0

23.2

393.0

501.1

0.0

0.0

     TOTAL

446.4

6,120.3

4,073.9

451.5

12,371.6

12,381.5

0.0

187.0

BARLEY

0.0

30.4

33.9

0.0

12.4

25.2

0.0

0.0

CORN

1,371.4

27,920.3

8,271.1

1,072.3

10,372.9

6,344.4

0.0

747.0

SORGHUM

238.6

3,255.7

683.9

213.7

1,275.5

242.3

0.0

327.0

SOYBEANS

406.9

25,211.2

9,956.3

2,492.6

27,126.4

15,987.9

0.0

69.0

SOY MEAL

163.8

3,192.9

3,180.1

227.5

1,908.4

1,803.8

0.0

18.1

SOY OIL

2.5

289.7

137.5

28.7

100.3

194.8

0.0

0.6

RICE

 

 

 

 

 

 

 

 

   L G RGH

49.2

245.8

389.0

70.6

531.2

496.4

0.0

0.0

   M S RGH

0.0

19.4

16.4

0.2

9.5

14.4

0.0

0.0

   L G BRN

0.2

10.4

13.7

0.4

11.7

15.4

0.0

0.0

   M&S BR

0.2

16.1

56.9

1.7

34.3

1.9

0.0

0.0

   L G MLD

16.5

48.1

213.1

48.3

197.8

375.4

0.0

0.0

   M S MLD

5.7

195.6

190.7

17.5

139.8

172.8

0.0

0.0

     TOTAL

71.7

535.5

879.7

138.6

924.2

1,076.4

0.0

0.0

COTTON

 

THOUSAND RUNNING BALES      

   UPLAND

277.9

5,733.9

7,467.3

180.8

4,132.1

3,099.3

21.8

651.9

   PIMA

7.9

235.9

161.2

27.6

251.1

132.7

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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