PDF Attached

 

Due
to the federal holiday on December 24 and December 25, the Commitments of Traders (COT) market report will be released on Monday, December 28, 2020.

 

 

US
agriculture markets were higher on ongoing Argentina strike problems and poor weather forecast.  Fund buying supported grains.  Option trading was active. 

 

Weather

 

 

 

 

MOST
IMPORTANT WEATHER OF THE DAY

  • Argentina’s
    outlook trended a little wetter today – at least on the various GFS model runs. The European model run continued with traditional La Nina tendencies in South America which entail abundant precipitation from center west through center south Brazil, net drying
    in the far south and some sporadic rain in the northeast of Brazil while eastern Argentina, Uruguay and southern Paraguay experience some net drying
    • The
      European model solution is most favored
    • Argentina
      will be dry and very warm through Friday and into Saturday
    • Isolated
      to scattered showers and thunderstorms will develop in the west and northern parts of the nation late this weekend through next week with some of the rain expanding to the east
      • Eastern
        Buenos Aires, Entre Rios, Uruguay and southeastern Santa Fe are not likely to get much precipitation and net drying should prevail despite some showers
    • Higher
      relative humidity and cloud cover during the weekend and next week will help hold back temperatures and evaporation until a greater rain event arrives which may occur in early January
  • Brazil
    rainfall was greatest from Mato Grosso do Minas Gerais and northern Sao Paulo Tuesday
    • Rainfall
      reached 4.30 inches in southwestern Minas Gerais and 2.50 inches in east-central Minas Gerais while up to 3.50 inches occurred in north-central parts of Mato Grosso.
    • Temperatures
      were seasonable
  • Brazil
    outlook is similar to that of Tuesday favoring rain in center west and center south crop areas during the next two weeks while far southern Brazil gets rain more erratically. Far northeastern Brazil will also see sporadic rainfall for a while
  • Australia’s
    summer cotton and sorghum production areas will receive additional rain late next week and especially in the first week of January while net drying occurs until then
    • Recent
      rain improved dryland field and crop conditions, but much more moisture was needed to ensure crop improvements
    • Irrigated
      crops are rated favorably
  • South
    Africa received some much needed rainfall in the west Monday and central areas Tuesday helping to ease long term dryness in some areas
    • Additional
      rain is needed, but not likely to occur in some areas for a while
    • Fieldwork
      will advance swiftly in the drier biased weather
  • Morocco
    will remain dry through the weekend and showers expected next week will be brief and light
    • Some
      areas in southwestern Morocco wheat and barley production areas have been dealing with drought for two years and this is the beginning of a third year
  • Other
    areas in North Africa wheat and barley production areas have more favorable soil moisture and will continue to experience some timely rainfall
    • However,
      rain is needed in northwestern Algeria and it may not come significantly for a while
  • India
    will not receive much rain in the coming week, but it may get some needed rain in central and interior northern crop areas in the first days of January
    • The
      precipitation event is too far out in time to have high confidence, but with La Nina conditions prevailing and a strongly positive Southern Oscillation the odds favor significant rain for some of these areas this winter
      • The
        precipitation would help winter crop production potentials rise
  • China
    weather will continue quiet over the next couple of weeks with only light snow occasionally in the far northeast and a mix of rain and winter precipitation types in the Yangtze River Basin and interior far south
  • Russia
    and Ukraine will experience periodic snow and rain through the next two weeks
    • Resulting
      precipitation will be near to above average except in a few Russian Southern region locations where amounts will remain lighter than usual
      • The
        moisture will be good for spring crop development with some of the snow to protect crops from any harsh weather that evolves
        • However,
          temperatures will be warmer than usual in western Russia, Belarus, the Baltic States, Ukraine and in a few areas in Russia’s Southern region
        • Temperatures
          will be a little cooler bias farther east, but no threatening cold is expected in any winter crop region
  • Europe
    will experience waves of rain and a little mountain snowfall during the coming week to ten days
    • Abundant
      rain is expected in parts of central and northwestern Europe and some locations will receive multiple inches of rain
    • The
      moisture abundance will translate into wetter field conditions and the potential for areas of standing water may rise
      • Flooding
        in northwestern France and parts of the U.K. is most likely
    • Some
      strong wind speeds are expected as well with port loading delays possible at times
  • U.S.
    weather over the coming ten days will be more active than it has been
    • Frequent
      weather systems will impact areas east of the Mississippi River; including the eastern Midwest, Delta and Atlantic Coast States
      • Moisture
        totals will be greater than usual in the northeastern states
    • Most
      of the hard red winter wheat production areas will be left dry or mostly dry during this week and probably in the second week of the outlook as well, although a snow and rain event is possible during mid-week next week
      • Next
        week’s storm should favor the north and eastern parts of the region leaving limited moisture for the west-central and especially the southwestern Plains
    • A
      mini blizzard is under way today in the northern Plains and upper Midwest with similar conditions in southern Canada’s Prairies Tuesday and early this morning
      • The
        storm will abate by Thursday morning
      • Wind
        speeds of 30-50 mph and considerable blowing and drifting of snow will be stressful to livestock
    • Temperatures
      in the coming week will be near to above average in the Plains and northeastern states and near to below average in the southeastern and middle Atlantic coast states; however, a short term bout of colder weather will surge from the northern Plains to the southeastern
      states during mid- to late-week this week
    • Next
      week temperatures will trend cooler in the western and north-central states
    • Florida
      citrus areas will be cold late this week with some low temperatures in the 30s and a few upper 20s Fahrenheit expected Friday and especially Saturday
      • Crop
        damage is not likely, but a close watch on the situation is warranted because anticipated temperatures could turn slightly colder as time moves along
  • U.S.
    northern Plains
    • Blizzard
      conditions evolved overnight and will continue for a while in the southeast today wind speeds of 30-50 mph will occur with significant snow and blowing snow in Minnesota and eastern South Dakota
    • Snow
      accumulations will vary from 3 to 8 inches with a few greater amounts in eastern Minnesota
  • U.S.
    west-central and southwestern Plains will fail to get much “meaningful” moisture in the next ten days, although a little snow and rain is expected briefly during mid-week next week
  • Far
    southwestern U.S. crop areas will remain drier biased over the next two weeks
  • U.S.
    Delta and southeastern states will remain plenty moist over the next two weeks especially in the southeastern states
  • Southern
    Canada’s Prairies will be trending drier over the balance of this week and into next week following this week’s snow storm
    • The
      recent boost in snow cover will eventually improve soil moisture for crop use in the spring.
      • The
        area impacted needed the precipitation and snow cover had been absent leaving winter crops vulnerable to damaging cold.
    • Blizzard
      conditions will end today in southern Manitoba
    • Temperatures
      will be near to above average this week and next week
  • Indonesia
    and Malaysia rainfall recently has become a little erratic and a boost in precipitation will eventually be needed
    • No
      area is dry enough to pose a threat to short rooted crops, but greater volumes of rain would be welcome
    • The
      pattern of erratic rainfall that is a little lighter than usual may prevail through the end of this month, but conditions will improve in early January
  • Southern
    Vietnam, Thailand and Cambodia will receive some additional scattered showers and thunderstorms over the coming week
    • Frequent
      precipitation in recent weeks has kept the region moist and delayed fieldwork
    • No
      serious crop quality changes have occurred, but the wetter bias will continue for several more days
    • Winter
      crops benefitted from the expected moisture
  • Philippines
    weather trended drier again Tuesday after excessive rain fell during the past week
    • Some
      damage to low lying crops was suspected with rainfall of more than 20.00 inches in a single week for some areas
    • Another
      bout of significant rain will evolve late this week and through early next week resulting in additional heavy rain
  • A
    new tropical cyclone may evolve west of Palawan, Philippines next week before passing south of Vietnam later in that same week
    • This
      system could bring more rain to southern Vietnam
    • The
      storm looks weaker today than that of Tuesday’s outlook
  • Southern
    Oscillation Index was at +15.16 today and it will remain strongly positive for a while even though some weakening is possible later in the week
    • World
      Weather, Inc. believes the index is near its peak and weakening in the next few weeks will signal the beginning of a weakening trend in La Nina that will be most significant in February and March
  • Mexico
    precipitation will be quite limited over the coming week which is not unusual for this time of year
    • Showers
      will be mostly limited to the far south
  • Portions
    of Central America will continue to receive erratic rainfall over the next couple of weeks, but the intensity and frequency will be low enough to support some farming activity
    • Costa
      Rica and Caribbean coastal areas of both Nicaragua and Honduras will be wettest this week

·        
West-central Africa weather is becoming more normal for this time of year with a few coastal showers

    • Recent
      rainfall has been greater than usual especially in Ivory Coast, Ghana, Senegal, southern Benin and coastal Nigeria

·        
East-central Africa rain will be erratic and light in Ethiopia, Kenya and Uganda while rainfall will be greatest over Tanzania  this week

·        
New Zealand weather this week will trend greater than last week with some well-timed moisture across the nation

    • Temperatures
      will be below average

Source:
World Weather Inc. and FI

 

Bloomberg
Ag Calendar

Wednesday,
Dec. 23:

  • China
    customs publishes data on imports of corn, wheat, sugar and cotton
  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
  • EIA
    U.S. weekly ethanol inventories, production, 10:30am
  • USDA
    hogs and pigs inventory, red meat production, 3pm

Thursday,
Dec. 24:

  • Port
    of Rouen data on French grain exports

Friday,
Dec. 25:

  • Christmas
    Day
  • NOTE:
    Commitments of Traders reports for both ICE Futures Europe and CFTC will be delayed to Monday, Dec. 28
  • China
    customs publishes country-wise soybean and pork import data

Source:
Bloomberg and FI

 

USDA
Export Sales

China
was very quiet in buying US agriculture goods for the week ending December 17. 

·        
US soybean export sales were reported at a marketing year low 352,800 tons. It included China but a chink of it was switched from unknown.  (526,400 MT, including 396,000 MT switched from unknown destinations and decreases of
6,900 MT)

·        
Soybean oil sales were 20,900 tons and meal at 223,700 tons.  Soybean meal shipments were a good 314,100 tons and 23,600 tons of soybean oil were shipped. 

·        
US corn export sales were 651,100 tons. 

·        
Pork sales were 16,300 tons. 

·        
US all-wheat export sales were 393,700 tons and new-crop 24,000 tons. 

 

 

 

 

Macros

US
Initial Jobless Claims: 803K (est 885K, prev 885K) 

US
Continuing Claims: 5.337Mln (est 5.558Mln, prev 5.508Mln)

US
Core PCE Price Index (M/M) Nov: 0.0% (est 0.1%, prev 0.0%) 

US
Core PCE Price Index (Y/Y) Nov: -0.4% (est 1.5%, prev 1.4%)

US
Consumption Adjusted (M/M) Nov: -0.4% (est -0.2%, prevR 0.3%)

US
Personal Income (M/M) Nov: -1.1% (est -0.3%, prevR -0.6%) 

US
Consumption Adjusted (M/M) Nov: -0.4% (prevR 0.3 %)

 

US
University Of Michigan Sentiment Dec F: 80.7 (est 81.1; prev 81.4)


Current Conditions Dec F: 90.0 (prev 91.8)


Expectations Dec F: 74.6 (prev 74.7)


1 Year Inflation Expectations Dec F: 2.5% (prev 2.3%)


5-10 Year Inflation Expectations Dec F: 2.5% (prev 2.5%)

 

US
New Home Sales Change Nov: 841k (est 995K; prev 999K)


New Home Sales (M/M) Nov: -11.0% (est -0.5%; prev -0.3%)

 

Corn.

  • Anec
    sees December Brazil corn exports at 4.423 million tons. 
  • India
    bought 40,000 tons of US ethanol for Jan shipment at $555-$565/ton Mumbai. 
  • The
    USDA Broiler Report showed eggs set in the United States down 1 percent and chicks placed down slightly from a year ago.  Cumulative placements from the week ending January 4, 2020 through December 19, 2020 for the United States were 9.42 billion. Cumulative
    placements were down 1 percent from the same period a year earlier.
  • The
    hogs and pigs report showed December 1 inventories near expectations. 

 

 

Weekly
ethanol production increased 19,000 barrels per day to 976,000 (a Bloomberg poll called for up 2,000), and stocks increased 219,000 barrels to 23.169 million barrels.  Gasoline demand (product supplied) was up 47,000 barrels from the previous week to 8.022
million barrels while ethanol blended into finished motor gasoline was unchanged from the previous week at 802,000 barrels.  Ethanol blended into finished motor gasoline ran at 90.8% versus 89.3% previous week. 

 

 

 

Corn
Export Developments

  • Qatar
    seeks 100,000 tons of bulk barley on January 12.
  • Qatar
    seeks 640,000 cartons of corn oil on January 12.

 

Updated
12/21/20

March
corn is
seen
trading in a $4.25 and $4.55 range. 

 

Soybean
complex
.
 

 

Oilseeds
Export Developments

  • None
    reported

 

Updated
12/23/20

January
soybeans are seen in a $12.25‐$13.00 range.  March $12.00 and $13.25 range. 

January
soybean meal is seen trading in a $400 and $440 range.  March $400 and $455 range. 

January
soybean oil is seen in a 40.00-42.50 cent range.  March is expected to trade in a 40.50 and 43.00 cent range.
 

 

Wheat

  • Wheat
    ended sharply higher led by the Chicago contract on technical buying and lower USD.  USDA export sales were on the lower end of a four week average. 
  • Funds
    bought an estimated net 10,000 soft red winter wheat contracts. 
  • EU
    March milling wheat was up 2.25 at 211.50 euros.
  • Russia
    exported 29 million tons of grain since July 1, including 24 million tons oof wheat, according to Grain Exporters Union.  Russia plans to more than double its production of durum wheat to 1.8 million tons by 2025. They produced about 700,000 tons of durum
    this year, enough to cover domestic consumption.
  • Russian
    wheat export prices are back to 6-year highs, according to IKAR. 
  • Ukraine
    grain exports season to date are running 16 percent below same period year ago at 24.76 million tons.  This included 8.34 million tons of corn, 3.75 million tons of barley and 12.29 million tons of wheat.

 

Export
Developments.

  • Jordan
    bought 60,000 tons of wheat for Jun-Jul shipment. 
  • Bangladesh
    floated an imported tender for 50,000 tons of wheat, set to close Jan 4. 
  • Jordan
    issued a new import tender for 120,000 tons of animal feed barley, set to close Dec. 29 for shipment during the April 1-15, April 16-30, May 1-15 and May 16-31 periods. 

 

Rice/Other

  • Results
    awaited:  Bangladesh seeks 50,000 tons of rice on Dec. 22.  They bought a combined 100,000 tons on Dec. 2 and Nov 26, the country’s first rice purchase in about three years.  Bangladesh plans to import 300,000 tons of rice.
  • 12/21. 
    Bangladesh seeks another 50,000 tons of rice on Dec. 30. 

 

Updated
12/11/20

March
Chicago wheat is seen in a $5.80‐$6.40 range

March
KC wheat is seen in a $5.50‐$6.00 range

March
MN wheat is seen in a $5.55‐$6.00 range

 

 

Export Sales Highlights  

This
summary is based on reports from exporters for the period December 11-17, 2020.

Wheat:  Net sales of 393,700
metric tons (MT) for 2020/2021 were down 27 percent from the previous week and 34 percent from the prior 4-week average.  Increases primarily for Nigeria (102,000 MT), Mexico (70,200 MT, including decreases of 200 MT), Indonesia (60,000 MT), South Korea (57,000
MT, including 55,000 MT switched from unknown destinations), and Japan (52,900 MT), were offset by reductions primarily for unknown destinations (17,300 MT).  For 2021/2022, total net sales of 24,000 MT were for Peru.  Exports of 366,300 MT were up 54 percent
from the previous week, but down 8 percent from the prior 4-week average.  The destinations were primarily to Mexico (80,700 MT), China (63,000 MT, including 31,500 MT late–see below), South Korea (57,000 MT), Taiwan (49,100 MT), and Japan (30,300 MT). 

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

 Late Reporting: For 2020/2021, exports totaling 43,100 MT were reported late for China (31,500 MT) and the Dominican Republic (11,600 MT).

Corn:  Net sales of 651,100 MT for 2020/2021–a marketing-year
low–were down 66 percent from the previous week and 59 percent from the prior 4-week average.  Increases were primarily for unknown destinations (181,600 MT), Guatemala (99,800 MT, including decreases of 1,600 MT), Japan (87,200 MT, including 79,200 MT switched
from unknown destinations and decreases of 300 MT), Egypt (60,000 MT), and Canada (42,600 MT).  Exports of 835,700 MT were down 13 percent from the previous week and 8 percent from the prior 4-week average.  The destinations were primarily to China (271,900
MT), Japan (260,800 MT), Mexico (178,500 MT, including 36,300 late–see below), Panama (30,700 MT, including 20,800 late–see below), and Taiwan (26,500 MT). 

Optional Origin Sales:  For 2020/2021, the current outstanding
balance of 1,647,400 MT is for South Korea (903,000 MT), unknown destinations (224,000 MT), Taiwan (205,000 MT), Vietnam (130,000 MT), China (65,000 MT), Ukraine (62,400 MT), and Japan (58,000 MT). 

Late Reporting: For 2020/2021, exports totaling 71,500
MT were reported late for Mexico (36,300 MT), Panama (20,800 MT), and Jamaica (14,400 MT). 

Barley:  No net sales were reported for the week.  Exports
of 1,000 MT were to Japan (700 MT) and Taiwan (300 MT).

Sorghum:  Net sales of 64,300
MT for 2020/2021 were down 80 percent from the previous week and 75 percent from the prior 4-week average.  Increases reported for China (64,400 MT, including 68,000 MT switched from unknown destinations and decreases of 6,500 MT), were offset by reductions
for Mexico (100 MT).  For 2021/2022, total net sales reductions of 68,000 MT were for unknown destinations.  Exports of 130,600 MT were down 60 percent from the previous week and 22 percent from the prior 4-week average.  The destination was China.

 Rice:  Net sales of 111,500 MT for 2020/2021 were down 33 percent from the previous week, but up 19 percent from the prior 4-week average.  Increases
primarily for South Korea (45,700 MT), Mexico (35,500 MT, including decreases of 1,200 MT), the Dominican Republic (8,600 MT, including decreases of 400 MT), the United Kingdom (8,200 MT), and Ghana (4,000 MT), were offset by reductions for Liberia (200 MT)
and Haiti (200 MT).  Exports of 78,600 MT were down 47 percent from the previous week and 30 percent from the prior 4-week average.  The destinations were primarily to Japan (27,600 MT), Nicaragua (24,300 MT), Haiti (7,300 MT), Mexico (4,900 MT), and Jordan
(3,500 MT).

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

Soybeans:  Net sales of 352,800 MT for 2020/2021–a marketing-year
low–were down 62 percent from the previous week and 47 percent from the prior 4-week average.  Increases primarily for China (526,400 MT, including 396,000 MT switched from unknown destinations and decreases of 6,900 MT), the Netherlands (139,000 MT, including
138,000 MT switched from unknown destinations and decreases of 6,400 MT), Egypt (95,700 MT, including 70,800 MT switched from unknown destinations and 13,800 MT switched from Canada), Japan (75,000 MT, including 67,300 MT switched from unknown destinations
and decreases of 2,800 MT), and Spain (71,800 MT, including 65,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (791,300 MT).  For 2021/2022, total net sales of 165,000 MT were for unknown destinations.  Exports
of 2,518,400 MT were down 3 percent from the previous week and 1 percent from the prior 4-week average.  The destinations were primarily to China (1,374,600 MT, including 69,100 late–see below), Egypt (192,700 MT), Mexico (147,600 MT), the Netherlands (139,000
MT), and Japan (134,000 MT). 

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

Exports for Own Account:  For 2020/2021, the current exports
for own account outstanding balance is 74,000 MT, all Canada. Late Reporting: For 2020/2021, exports totaling 69,100 MT were reported late China.  Export Adjustments:  Accumulated exports of soybeans to the Netherlands
were adjusted down 23,331 MT for week ending December 3, 2020.  The correct destination for these shipments is Germany and is included in this week’s report.

Soybean Cake and Meal:  Net sales of 223,700 MT for 2020/2021
resulting in increases primarily for the Philippines (51,300 MT), Guatemala (50,700 MT), Canada (35,200 MT, including decreases of 600 MT), Mexico (34,100 MT, including decreases of 9,400 MT), and Peru (18,000 MT), were offset by reductions primarily for El
Salvador (6,000 MT), Thailand (3,200 MT), and Belgium (2,200 MT).  Exports of 314,100 MT were up 31 percent from the previous week and 32 percent from the prior 4-week average.  The destinations were primarily to the Philippines (91,400 MT), Bangladesh (49,500
MT), Honduras (36,300 MT), Venezuela (25,100 MT), and Mexico (22,800 MT).

Soybean Oil:  Net sales of 20,900 MT for 2020/2021 primarily
for Peru (11,500 MT), Venezuela (4,000 MT), unknown destinations (4,000 MT), South Korea (1,000 MT), and Colombia (1,000 MT), were offset by reductions for Canada (700 MT).  Exports of 23,600 MT were primarily to South Korea (17,500 MT), Venezuela (5,500 MT),
Canada (300 MT), and Mexico (200 MT).

Cotton:  Net
sales of 416,700 RB for 2020/2021 were down 1 percent from the previous week, but up 14 percent from the prior 4-week average.  Increases primarily for China (185,600 RB, including decreases of 13,500 RB), Vietnam (108,400 RB), Pakistan (52,000 RB), El Salvador
(17,200 RB), and Turkey (14,800 RB), were offset by reductions primarily for Mexico (10,500 RB).  For 2021/2022, net sales of 67,100 RB were primarily for El Salvador (21,600 RB), Honduras (15,000 RB), China (13,200 RB), and Turkey (9,200 RB).  Exports of
281,200 RB were up 12 percent from the previous week and 20 percent from the prior 4-week average.  Exports were primarily to China (156,200 RB), Pakistan (30,900 RB), Vietnam (24,000 RB), Mexico (16,800 RB), and Turkey (14,300 RB).  Net sales of Pima totaling
30,900 RB were up noticeably from the previous week and from the prior 4-week average.  Increases were primarily for India (9,200 RB), China (8,700 RB), Pakistan (3,700 RB), Egypt (2,700 RB), and Vietnam (2,600 RB).  Exports of 13,900 RB were down 40 percent
from the previous week and 44 percent from the prior 4-week average.  The destinations were primarily to India (5,600 RB), China (3,700 RB), Peru (2,000 RB), Vietnam (900 RB), and El Salvador (600 RB). 

 Exports for Own Account:  For 2020/2021, exports for own
account totaling 15,900 RB to China (14,600 RB), Bangladesh (1,000 RB), and Indonesia (300 RB) were applied to new or outstanding sales.  The current exports for own account outstanding balance of 18,600 RB is for China (2,700 RB).

Hides and Skins:  Net
sales of 265,800 pieces for 2020 were up 37 percent from the previous week, but down 8 percent from the prior 4-week average.  Increases primarily for China (168,900 whole cattle hides, including decreases of 6,900 pieces), Mexico (44,000 whole cattle hides,
including decreases of 2,900 pieces), South Korea (30,000 whole cattle hides, including decreases of 3,000 pieces), and Brazil (11,400 whole cattle hides, including decreases of 300 pieces), were offset by reductions for Taiwan (700 pieces).  Additionally,
total net sales 
of 5,600 whole calf skins were for Italy and net sales reductions of 100 kip skins were for Belgium.  For 2021, net sales of 131,300 pieces were reported for China (59,800 whole cattle hides), Mexico (52,800 whole cattle hides), South Korea
(9,600 whole cattle hides), and Taiwan (9,100 whole cattle hides).  Also, net sales reductions of 5,600 whole calf skins were reported for Italy.  Exports of 360,600 pieces reported for 2020 were up 2 percent from the previous week and 4 percent from the prior
4-week average.  Whole cattle hides exports were primarily to China (255,100 pieces), South Korea (51,700 pieces), Mexico (30,500 pieces), Brazil (8,900 pieces), and Taiwan (4,700 pieces).  Additionally, exports of 4,500 kip skins were reported to China (1,900
kip skins), India (1,300 kip skins), and Belgium (1,300 kip skins). 

Net sales of 25,200 wet blues
for 2020 were down noticeably from the previous week and down 73 percent from the prior 4-week average.  Increases primarily for Italy (13,300 unsplit, including decreases of 26,300 unsplit), China (5,800 unsplit), and Brazil (5,400 unsplit, including decreases
of 300 unsplit), were offset by reductions primarily for Vietnam (100 unsplit).  For 2021, net sales of 71,000 wet blues primarily for Italy (69,800 unsplit), Vietnam (1,600 unsplit), and Hong Kong (1,500 unsplit), were offset by reductions for Brazil (1,500
unsplit) and China (1,200 unsplit).  Exports of 88,200 wet blues for 2020 were down 40 percent from the previous week and 16 percent from the prior 4-week average.  The destinations were primarily to Italy (20,000 unsplit and 3,800 grain splits), China (19,700
unsplit), Vietnam (19,500 unsplit), Brazil (9,700 unsplit), and Thailand (9,500 unsplit).  Net sales of 402,600 splits for Vietnam (360,000 pounds) and Italy (48,000 pounds), were offset by reductions for Taiwan (5,300 pounds).  For 2021, net sales of 180,700
splits were reported for Vietnam (172,800 pounds) and China (7,900 pounds).  Exports of 237,700 pounds were to Vietnam (200,000 pounds) and Taiwan (37,700 pounds).

 

Beef:  Net
sales of 6,000 MT reported for 2020 were down 40 percent from the previous week, but up noticeably from the prior 4-week average.  Increases were primarily for Japan (2,000 MT, including decreases of 400 MT), South Korea (1,900 MT, including decreases of 700
MT), Mexico (600 MT, including decreases of 100 MT), Canada (400 MT, including decreases of 100 MT), and Hong Kong (400 MT, including decreases of 400 MT).  For 2021, net sales of 7,200 MT were primarily for South Korea (3,100 MT), Hong Kong (2,100 MT), Japan
(700 MT), Mexico (500 MT), and Taiwan (300 MT).  Exports of 13,500 MT were down 30 percent from the previous week and 27 percent from the prior 4-week average.  The destinations were primarily to South Korea (3,700 MT), Japan (3,300 MT), Mexico (1,900 MT),
Hong Kong (1,500 MT), and Canada (800 MT). 

 

Pork:  Net sales of 16,300 MT
reported for 2020 were down 59 percent from the previous week and 44 percent from the prior 4-week average.  Increases primarily for Mexico (17,000 MT, including decreases of 1,000 MT), Japan (2,300 MT, including decreases of 2,000 MT), Canada (1,500 MT, including
decreases of 500 MT), the Philippines (900 MT, including decreases of 200 MT), and Guatemala (900 MT), were offset by reductions primarily for China (6,100 MT) and South Korea (1,800 MT).  For 2021, net sales of 23,400 MT were primarily for China (7,700 MT),
South Korea (3,900 MT), Colombia (3,50 MT), Japan (1,400 MT), and the Philippines (1,400 MT).  Exports of 40,500 MT were down 4 percent from the previous week, but up 2 percent from the prior 4-week average.  The destinations were primarily to Mexico (14,400
MT), China (13,100 MT), Japan (3,200 MT), South Korea (2,600 MT), and Canada (1,700 MT).

 

U.S. EXPORT SALES FOR WEEK ENDING 12/17/2020 

 





























 

CURRENT MARKETING YEAR

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WHEAT

 

 

 

 

 

 

 

 

   HRW    

172.4

1,660.9

1,489.2

156.4

5,407.7

5,312.1

0.0

22.0

   SRW    

67.4

496.2

557.7

9.6

1,038.0

1,523.3

24.0

145.0

   HRS     

77.4

1,595.7

1,385.5

76.9

3,922.5

3,820.7

0.0

45.0

   WHITE   

78.5

2,632.7

1,103.9

95.1

2,699.4

2,581.9

0.0

20.0

   DURUM  

-2.1

128.1

195.6

28.4

461.5

571.5

0.0

0.0

     TOTAL

393.7

6,513.5

4,731.9

366.3

13,529.0

13,809.4

24.0

232.0

BARLEY

0.0

15.0

31.5

1.0

15.5

27.4

0.0

12.5

CORN

651.1

29,342.1

9,895.6

835.7

12,888.9

7,927.6

0.0

757.0

SORGHUM

64.3

3,305.9

593.5

130.6

1,738.0

493.4

-68.0

327.0

SOYBEANS

352.8

19,256.1

9,316.9

2,518.4

34,902.2

19,768.5

165.0

496.0

SOY MEAL

223.7

3,062.7

3,022.0

314.1

2,687.0

2,421.9

0.0

18.2

SOY OIL

20.9

246.1

186.7

23.6

180.7

240.9

0.0

0.6

RICE

 

 

 

 

 

 

 

 

   L G RGH

36.2

272.9

328.5

28.5

687.1

618.4

0.0

0.0

   M S RGH

0.0

17.3

15.4

1.0

11.6

15.4

0.0

0.0

   L G BRN

8.2

10.9

22.4

1.3

20.6

17.8

0.0

0.0

   M&S BR

44.6

61.3

52.2

0.4

33.9

6.8

0.0

0.0

   L G MLD

12.5

88.8

193.4

10.5

229.5

444.2

0.0

0.0

   M S MLD

10.1

181.5

150.6

37.0

187.0

239.0

0.0

0.0

     TOTAL

111.5

632.7

762.5

78.6

1,169.8

1,341.6

0.0

0.0

COTTON

 

THOUSAND RUNNING BALES      

   UPLAND

416.7

6,118.9

7,527.3

281.2

4,987.8

3,700.9

67.1

780.8

   PIMA

30.9

223.9

172.5

13.9

314.5

160.8

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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