FI Grain Market Update 12/31/20

PDF attached

 

Morning. 

 

Happy
New Year’s Eve.  I will be out of the office for the remainder of the day. 

 

Soybeans,
products, and corn are higher amid good export sales and adverse South American weather.  Wheat traded slightly lower after the open on light technical selling after a big rally on Wednesday.  Later we may see EIA US ethanol and biodiesel feedstock data. 
COT will be out on Monday.  Deliveries
were 5 for soybeans and zero for the products. 

 

CME
margin announcement.  Soybeans, corn, Chicago & KC wheat and soybean oil increase.  The rates will be effective after the close of business on January 04, 2021.
https://www.cmegroup.com/notices/clearing/2020/12/Chadv20-494.html

 

 

Weather

 

NOT
MANY CHANGES AROUND THE WORLD

• Classic
  La Nina trends will prevail in South America through the next ten days to two weeks
• Rainfall
  in Argentina will be greatest in some west-central and far northern crop areas
• The
  most persistent below average precipitation will be in some central and eastern parts of the nation as well as in Uruguay and portions of western and southern Rio Grande do Sul
• Crop
  stress will remain a growing issue for production potentials in “portions” of the nation
• Cordoba
  and San Luis may see the greatest and most frequent rainfall during the coming week to ten days, although Salta and some neighboring areas in far northwestern Argentina will also get rain
• Northwestern
  Argentina produces citrus, sugarcane and dry beans
• Brazil
  weather will be plenty wet in center south crop areas over the next ten days to two weeks with frequent rainfall keeping the ground saturated or nearly saturated
• Some
  flood potential will evolve over time in southern Minas Gerais and northeastern Sao Paulo, although the rain should be spread out enough overtime to limit the potential for “serious” flooding
• Brazil’s
  center west crop areas will receive rain routinely enough to support crops in a favorable manner, although it will not be as wet there (Mato Grosso) as it will be for crop areas to the southeast
• Brazil’s
  northeast will be driest, but western Bahia and western and central Piaui will get enough rain often enough to support most crops
• Sugarcane,
  coffee, cocoa and minor grain and oilseed production areas will be in the drier biased area
• Brazil’s
  main sugarcane, citrus and coffee areas from Sao Paulo into immediate neighboring areas will receive sufficient moisture to sustain good crop development, although dryness earlier this year has cut into production
• Rio
  Grande do Sul’s western and southern crop areas, including some important rice and corn production areas, will be drying out over the next couple of weeks and that might have a negative impact on production potentials
• Northern
  soybean and corn areas will get better rainfall, although the early corn crop in that region already suffered losses because poor early season rainfall
• U.S.
  weather will be stormy from Texas to the lower Midwest and Atlantic Coast States today and Friday ending on Saturday
• Rain,
  freezing rain, sleet and snow are likely
• The
  most significant ice and snow will fall from western parts of Texas through western Oklahoma to eastern Kansas and northern Missouri today and tonight and then from southern Iowa and northern Missouri to southern Michigan Friday
  
• Similar
  conditions will occur in the northeastern U.S. and southeastern Canada Friday night into Saturday morning
• Moisture
  totals from this storm will vary from 0.75 to 3.00 inches in central and eastern Texas and portions of Arkansas while varying from 0.50 to 1.50 inches in most other areas
• The
  lower Delta will get less than 0.60 inch of rain and the southeastern states will also get 0.75 to 2.00 inches
• Snow
  accumulations will vary from 3 to 7 inches with local totals of 10 inches or more
• Southwestern
  Texas through western Oklahoma to east-central Kansas and central Missouri will get the greatest snowfall, but parts of Central and northeastern Illinois, northern Indiana, Michigan and northwestern Ohio withy also get 2 to 6 inches
• Snowfall
  in New England and parts of New York will vary from 4 to 10 inches
• U.S.
  weather will quiet down during the weekend and early part of next week and then a new succession of storms is expected
• New
  storm system will pass through the Midwest, and mid-south regions of the U.S. during mid-week next week before reaching the Atlantic Coast states late in the week
• A
  new storm in the central Plains late next week will produce very light amounts of rain and snow in hard red winter wheat country and the increase its precipitation potentials from the Delta to the northeastern states in the following weekend
• Another
  storm will impact areas near and east of the Mississippi River in the week of Jan. 11
• The
  bottom line is plenty wet near and east of the Mississippi River over the next two weeks
• North
  America temperatures will be warmer than usual in Canada, the north-central U.S. and in most areas east of the Mississippi River in the coming week
• January
  7-13 temperatures will trend colder in the western and north-central states and staying mostly unchanged elsewhere
• U.S.
  hard red winter wheat areas will be driest in the west-central and southwest during the next two weeks
• Additional
  rain, freezing rain and snow will occur today into Friday from interior parts of West Texas through western Oklahoma and south-central Kansas to Missouri
• Heavy
  snowfall is possible in this corridor resulting in travel delays and notable livestock stress
• Significant
  icing may also occur in a few eastern fringe crop areas of the region
• Another
  mix of light precipitation will be possible late next week and into the following weekend
• The
  bottom line leaves the high Plains region without much significant moisture, but some brief periods of light precipitation are possible without having much impact on the long term condition of crops and soil in the region. Eastern and southern crop areas will
  be moist enough to support some improvement to crop conditions in the spring
• U.S.
  northern Plains
• No
  major storms are expected in the next two weeks; only light snowfall will impact eastern parts of the region periodically
• Far
  southwestern U.S. Plains crop areas will remain drier biased over the next two weeks, although a little rain, freezing rain, sleet and snow will today and a few showers might occur again briefly late next week
• Moisture
  totals from today’s storm will range from 0.05 to 0.35 inch except in the Rolling Plains of Texas where 0.35 to 0.85 inch will result and a few totals over 1.00 inch possible
• A
  few counties in the far south part of West Texas cotton country and in a few Low Plains areas will benefit from some of the expected moisture today
• U.S.
  Delta and southeastern states will remain plenty moist over the next two weeks with the greatest rain event expected in the northwestern Delta today through Friday of this week when some 0.75 to 2.50-inch amounts will be possible
• The
  lower eastern Delta will receive much less rain with amounts of 0.20 to 0.75 inch
• The
  southeastern states will experience rainfall of 0.75 to 2.00 inches
• Another
  weather system will occur in the latter part of next week
• U.S.
  Pacific Northwest will experience frequent waves of rain and mountain snowfall during the next couple of weeks
• Waves
  of rain and mountain snow will fall across the Sierra Nevada with periods of rain in northern California over the next two weeks
• The
  precipitation will help improve soil moisture and mountain snowpack for better crop use in the spring
• Snowpack
  in the Sierra Nevada is well below average running close to the record low of 2014, but that will soon change
• China
  temperatures were cold again today with lows in the positive and negative single digits Fahrenheit from northern Shaanxi to northern Hebei
• Much
  colder readings occurred farther north into Inner Mongolia
• Snow
  cover is lacking in some of these areas and some winterkill cannot be ruled out, although the production region impacted is considered minor relative to the nation’s most important production areas farther south
• China
  winter crops will remain dormant through the next two weeks
• Cold
  air in eastern Russia and Mongolia will be closely monitored for possible influence in winter wheat production areas through the coming week with temperatures a week from now more threatening farther to the south
• Precipitation
  will be confined to east-central China today and Wednesday and then mostly dry for at least a week and that will leave some of these winter crop areas snow free and unprotected from the bitter cold
• A
  week’s worth of cold conditions prior to the coldest conditions will give the crop time to adequately harden, but the situation will still need to be closely monitored
• South
  Africa will experience erratic daily rainfall over the next two weeks eventually benefiting all agricultural areas
• Daily
  rainfall will vary widely with some areas getting more than others, but sufficient amounts will occur to suffice the needs of most crops
• Temperatures
  will be seasonable
• Precipitation
  Monday was sporadic and light leading to net drying for much of the nation
• Eastern
  Australia weather during the next two weeks will be sufficient to support sorghum, cotton and other summer crops
• Rainfall
  will be periodic and highly variable, but most areas will be impacted at one time or another and crop development should improve for the driest areas
• India
  weather Wednesday was mostly dry with a few more bouts of light frost and brief freezes in the north today
  
• None
  of the frost or freezes should have had a negative impact on winter crops which are still in the pre-reproductive phase of development
• Northern
  India winter crop areas will get rain Saturday into Tuesday benefiting wheat and some minor rapeseed production areas
• Pre-reproductive
  crop conditions will improve wherever the rain falls
• Moisture
  totals may range from 0.20 to 0.80 inch and locally more
• Brief
  periods of rain will also continue in far southern India on a near-daily basis during the next couple of weeks
• The
  moisture may hinder some farming activity; including late season harvesting, but no crop quality issues are expected
• Southeast
  Asia rainfall was relatively light and Wednesday
• Periodic
  precipitation is expected through the next ten days in Indonesia, Malaysia and Philippines while only coastal areas of Vietnam are impacted on the mainland
• The
  moisture will be good for most crops impacted
• Russia
  and Ukraine weather will not change much over the next two weeks
• Frequent
  precipitation from eastern Europe into Ukraine, Belarus and western Russia is expected
  
• Snow
  cover will be deep and moisture potentials from melting snow in the spring are good
• Russia’s
  Southern Region may get some precipitation next week and any precipitation will be welcome
• No
  threatening cold is expected in snow free areas anytime soon
• Europe
  will remain plenty moist over the next two weeks with frequent waves of rain and mountain snow anticipated
  
• Some
  heavy rain and local flooding will impact southwestern France northern Spain, Italy and the eastern Adriatic Sea nations
• Some
  of these wetter areas will receive 2.00 to more than 6.00 inches of rain in the coming week
• Temperatures
  will be mild to cool in the west and warm in the east
• Southwestern
  Morocco remains in a drought with little relief expected for a while
• Some
  rain is possible early to mid-week next week, but it will be brief and light
• Northwestern
  Algeria also has need for rain and it should get some of that briefly in the coming week
  
• Soil
  moisture in other North Africa crop areas is rated mostly good
• West
  Africa rainfall will remain mostly confined to coastal areas while temperatures in the interior coffee, cocoa, sugarcane, rice and cotton areas are a little warmer than usual over the next ten days
• East-central
  Africa rainfall will continue limited in Ethiopia as it should be at this time of year while frequent showers and thunderstorms impact Tanzania, Kenya and Uganda over the next ten days
• Southern
  Oscillation Index remains very strong during the weekend and was at +16.63 this morning – its highest values of the current La Nina episode
• Mexico
  and Central America weather will continue to generate erratic rainfall
• Eastern
  and far southern Mexico and portions of Central America will be most impacted by periodic moisture

Source:
World Weather Inc. and FI

 

Bloomberg
Ag Calendar

Monday,
Jan. 4:

• USDA
  weekly corn, soybean, wheat export inspections, 11am
• U.S.
  winter wheat conditions, cotton harvested, 4pm
• USDA
  soybean crush, DDGS production, corn for ethanol, 3pm
• CFTC
  and ICE commitments of traders reports, delayed from Jan. 1, with data for week ended Tuesday Dec. 29
• EU
  weekly grain, oilseed import and export data
• Australia
  Commodity Index
• Ivory
  Coast cocoa arrivals
• HOLIDAY:
  Russia, New Zealand

Tuesday,
Jan. 5:

• New
  Zealand global dairy trade auction
• Purdue
  Agriculture Sentiment, 9:30am
• Malaysia’s
  Jan. 1-5 palm oil export data
• Virtual
  palm oil trade fair and seminar 2021, Jan. 5-7
• HOLIDAY:
  Russia

Wednesday,
Jan. 6:

• EIA
  weekly U.S. ethanol inventories, production, 10:30am
• China’s
  CNGOIC to publish soy and corn reports
• HOLIDAY:
  Russia, Poland

Thursday,
Jan. 7:

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

Friday,
Jan. 8:

• 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
• Trading
  of China’s hog futures to begin on Dalian Commodity Exchange
• HOLIDAY:
  Russia

Source:
Bloomberg and FI

 

 

 

 

 

Macros

 

 

USDA
export sales were better than expected for most commodities.  Soybean meal sales were a marketing year low, but shipments totaled 285,600 tons.  Soybean oil sales included 33,000 tons to unknown which was a head scratcher (China?).  Soybean oil shipments
were 13,300 tons.  Soybean sales of 695,500 tons current crop included Egypt and Indonesia last week.  New crop sales were very good at 315,800 tons (China 126,000 tons).  Corn export sales of 964,600 tons were better than expected and all-wheat sales of 520,600
topped an average trade range.  Sorghum sales were only 44,300 tons and pork sales fell more than 50 percent from the previous week to 7,700 tons. 

 

 

 

Corn.

• CBOT
  corn was higher this morning following strength in wheat and Argentina suspending export registrations through at least March 2021.   
  
• China’s
  National Energy Administration (NEA) warned local provinces to use more ethanol.  “restore supply of ethanol-gasoline as soon as possible and maintain the order of the refined oil market.”
• Some
  traders noted December and January shipments of US ethanol were headed to China as the import arb favors imports despite the 45 percent tax. 
  
• Weekly
  EIA US ethanol production dropped a large 42,000 barrels to 934,000 barrels, lowest level since October 16 and off 4 percent from the previous month.  Production was down more than 4 times trade expectations.  US ethanol stocks increased for the ninth consecutive
  week, by 335,000 to 23.504 million barrels, highest level since May 15, 2020.  Stocks are nearly up 11.7 percent from this time last month. 
  

 

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.

 

 

 

Soybean
complex.  

• CBOT
  soybean complex is higher on Argentina economic woes and adverse SA weather.  The end of the month, quarter and year was thought to possible shake out longs in the market, but global fundamentals took over this week.  We look for a tighter US carryout when
  updated by USDA next month based on a higher US crush and export estimate.  SA soybean production could be cut by 3 million tons as well.  
  
• USDA
  export sales were better than expected for soybeans and product shipments were good. 
  
• Offshore
  values this morning were leading CBOT soybean oil 2 points lower and meal $0.20 higher.
  
• Rotterdam
  soybean oil values were not quoted, rapeseed oil NA (unchanged), and Rotterdam meal mostly 5-20 euros higher. 
  
• AmSpec
  December Malaysian palm exports were reported at 1.709 million tons, above 1.420 million for the month of November.  ITS reported at 19.6 percent increase to 1.686 million tons for December from previous month. 
  
• Lagging
  data SGS reported December 1-25 palm oil exports at 1.3 million tons, up 14 percent from same period last month. 
  
• Malaysian
  palm oil futures were up 18 percent in 2020. 

• China
  cash crush margins were 113 cents on our calculation (100 previous), compared to 145 last week and 131 year ago.
  
• China
  futures

 

 

 

Oilseeds
Export Developments

• The
  USDA/CCC seeks 2,000 tons of vegetable oil, packaged in 4 liter cans, for export to Kenya on January 5 for February 1-28 shipment (Feb 16 to Mar 15 for plants located at ports).

 

Wheat

• Chicago
  wheat was lower this morning on light technical selling after rallying a large amount on Wednesday.  Volume is thin which created a volatile session this week.   Algeria bought 300,000 tons of wheat at $292/ton C&F.  This might be limiting losses. 
  
• Traders
  are speculating Argentina could curb wheat export registrations after doing so for corn. 
  

• USDA
  export sales were better than expected. 

• EU
  March milling wheat was up 0.50 at 213.50 euros.  The rolling contract is up roughly 13 percent this year. 
  
• China
  sold 582,153 tons of wheat from state reserves at an average of 2,344 yuan per ton.  4.038 million tons were offered. 
  

 

Export
Developments.

• Algeria
  bought 300,000 tons of wheat at $292/ton C&F for Feb shipment (Jan is from SA). 
  
• Jordan
  will be back in for animal feed barley (120k) on January 5.  Possible shipment combinations are in 2021 for June 1-15, June 16-30, July 1-15 and July 16-31. 
  
• Bangladesh
  floated an imported tender for 50,000 tons of wheat, set to close Jan 4. 

 

Rice/Other

• Bangladesh
  received offers for another 50,000 tons of rice and lowest offer was $408.28/ton ($405.60/ton lowest yesterday). 
  

 

 

 

Export Sales Highlights  

This
summary is based on reports from exporters for the period December 18-24, 2020.

Wheat:  Net
sales of 520,600 metric tons (MT) for 2020/2021 were up 32 percent from the previous week and 4 percent from the prior 4-week average.  Increases primarily for China (133,200 MT), the Philippines (80,900 MT), Vietnam (77,500 MT), Indonesia (57,000 MT, including
49,000 MT switched from unknown destinations), and Bangladesh (50,800 MT, including 50,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (23,000 MT).  Exports of 434,800 MT were up 19 percent from the previous week
and 8 percent from the prior 4-week average.  The destinations were primarily to the Philippines (104,900 MT), South Korea (82,700 MT), Mexico (76,300 MT), China (68,200 MT), and Bangladesh (50,800 MT). 

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

Corn:  Net
sales of 964,500 MT for 2020/2021 were up 48 percent from the previous week, but down 27 percent from the prior 4-week average.  Increases were primarily for unknown destinations (246,000 MT), Japan (117,400 MT, including 88,600 MT switched from unknown destination
and decreases of 62,800 MT), Costa Rica (102,200 MT, including decreases of 300 MT), Chile (81,000 MT), and Morocco (60,900 MT, including decreases of 2,300 MT).  Exports of 1,339,600 MT–a marketing-year high–were up 60 percent from the previous week and
49 percent from the prior 4-week average.  The destinations were primarily to China (492,000 MT), Japan (273,400 MT), Mexico (226,900 MT), Colombia (76,100 MT), and Morocco (65,900 MT). 

Optional Origin Sales:  For
2020/2021, options were exercised to export 160,000 MT to South Korea (65,000 MT), Taiwan (65,000 MT), and Ukraine (30,000 MT from other than the United States.  Decreases totaling 136,000 MT were reported for Vietnam (130,000 MT) and Japan (6,000 MT).  The
current outstanding balance of 1,351,400 MT is for South Korea (838,000 MT), unknown destinations (224,000 MT), Taiwan (140,000 MT), China (65,000 MT), Japan (52,000 MT), and Ukraine (32,400 MT). 

Late Reporting: For
2020/2021, exports totaling 29,900 MT were reported late for New Zealand. 

Barley:  Total
net sales of 100 MT for 2020/2021 were reported for Japan.  Exports of 1,400 MT were to Japan.

Sorghum:  Net
sales of 44,300 MT for 2020/2021 were down 31 percent from the previous week and 76 percent from the prior 4-week average.  Increases were reported for China (44,300 MT, including decreases of 12,700 MT).  For 2021/2022, total net sales of 53,000 MT were for
China.  Exports of 161,600 MT were up 24 percent from the previous week, but down 4 percent from the prior 4-week average.  The destination was China.

Rice:  Net
sales of 47,100 MT for 2020/2021 were down 58 percent from the previous week and 55 percent from the prior 4-week average.  Increases were primarily for Haiti (29,600 MT).  Exports of 91,100 MT were up 16 percent from the previous week, but down 5 percent
from the prior 4-week average.  The destinations were primarily to Haiti (37,600 MT), Mexico (24,600 MT), and Venezuela (22,000 MT).

Exports for Own Account:  For
2020/2021, exports for own account totaling 100 MT to Canada were applied to new or outstanding sales.

Soybeans:  Net
sales of 695,400 MT for 2020/2021 were up 97 percent from the previous week and 25 percent from the prior 4-week average.  Increases primarily for China (619,700 MT, including 596,000 MT switched from unknown destinations and decreases of 191,000 MT), Egypt
(91,800 MT, including 27,100 MT switched from unknown destinations), Indonesia (88,900 MT, including 55,000 MT switched from unknown destinations), the Netherlands (88,600 MT, including 80,000 MT switched from unknown destinations and decreases of 600 MT),
and Thailand (78,000 MT, including 66,000 MT switched from unknown destinations and decreases of 3,900 MT), were offset by reductions primarily for unknown destinations (588,100 MT).  For 2021/2022, net sales of 315,800 MT were for unknown destinations (185,000
MT), China (126,000 MT), and Japan (4,800 MT).  Exports of 2,438,400 MT were down 3 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily to China (1,465,000 MT), Egypt (118,300 MT), Thailand (100,600
MT), the Netherlands (88,600 MT), and Japan (85,300 MT). 

Optional Origin Sales:  For
2020/2021, options were exercised to export 63,000 MT to China from other than the United States. 

Exports for Own Account:  For
2020/2021, exports for own account totaling 67,900 MT to Canada were applied to new or outstanding sales.  The current exports for own account outstanding balance is 6,100 MT, all Canada.

Late Reporting: For
2020/2021, exports totaling 1,000 MT were reported late Bangladesh.

Soybean Cake and Meal:  Net
sales of 76,200 MT for 2020/2021–a marketing-year low–resulting in increases primarily for the Ecuador (34,300 MT, including 30,000 MT switched from unknown destinations), Guatemala (28,700 MT, including 6,000 MT switched from El Salvador and 5,700 switched
from Costa Rica), Morocco (17,500 MT), and Venezuela (10,000 MT), were offset by reductions primarily for unknown destinations (30,000 MT).  Exports of 285,600 MT were down 9 percent from the previous week, but up 14 percent from the prior 4-week average.  The
destinations were primarily to Ecuador (61,300 MT), the Philippines (46,800 MT), the Dominican Republic (31,100 MT), Colombia (30,700 MT), and Mexico (27,400 MT).

Soybean Oil:  Net
sales of 60,700 MT for 2020/2021 primarily for unknown destinations (33,000 MT) and Peru (17,500 MT), were offset by reductions for Canada (700 MT).  Exports of 13,300 MT were primarily to the Dominican Republic (10,300 MT) and Mexico (2,700 MT).

Cotton:  Net
sales of 287,900 RB for 2020/2021 were down 30 percent from the previous week and 24 percent from the prior 4-week average.  Increases were primarily for Vietnam (82,600 RB), Pakistan (51,200 RB), China (43,700 RB, including decreases of 20,400 RB), Turkey
(29,700 RB), and Indonesia (22,400 RB, including 100 RB switched from Japan).  For 2021/2022, net sales of 15,100 RB were for China (13,200 RB) and Mexico (1,900 RB).  Exports of 275,100 RB were down 1 percent from the previous week, but up 7 percent from
the prior 4-week average.  Exports were primarily to China (144,200 RB), Pakistan (36,600 RB), Vietnam (22,000 RB), Turkey (18,300 RB), and Bangladesh (14,700 RB).  Net sales of Pima totaling 15,300 RB were down 51 percent from the previous week, but up 3
percent from the prior 4-week average.  Increases were primarily for India (7,600 RB), Vietnam (2,200 RB), China (1,500 RB), Austria (1,300 RB), and Peru (1,100 RB).  Exports of 15,500 RB were up 11 percent from the previous week, but down 32 percent from
the prior 4-week average.  The destinations were primarily to India (4,700 RB), Pakistan (3,700 RB), China (2,200 RB), Austria (1,300 RB), and Vietnam (1,000 RB).  

Exports for Own Account:  For
2020/2021, the current exports for own account outstanding balance of 2,700 RB is for China.

Export Adjustments:  Accumulated
exports of upland cotton to Bangladesh were adjusted down 88 RB for week ending October 29^th and 4,409 RB for week ending December 17^th.  These exports were reported in error.  Accumulated exports of upland cotton to Pakistan were adjusted
down 4,908 RB for week ending November 12^th.  These exports were reported in error.

Hides and Skins:  Net
sales of 166,900 pieces for 2020 were down 37 percent from the previous week and from the prior 4-week average.  Increases primarily for China (114,100 whole cattle hides, including decreases of 24,400 pieces), South Korea (22,700 whole cattle hides, including
decreases of 1,300 pieces), Mexico (14,900 whole cattle hides, including decreases of 3,000 pieces), and Thailand (13,400 whole cattle hides), were offset by reductions primarily for Cambodia (600 pieces).  Additionally, net sales
reductions of 100 kip skins were for Italy.  For 2021, net sales of 187,000 pieces primarily for China (150,500 whole cattle hides), South Korea (13,300 whole cattle hides), Mexico (12,700 whole cattle hides), and Brazil (8,400 whole cattle hides), were offset
by reductions for Hong Kong (1,500 whole cattle hides).  Also, net sales of 2,100 kip skins were reported for Italy.  Exports of 332,300 pieces reported for 2020 were down 8 percent from the previous week and 4 percent from the prior 4-week average.  Whole
cattle hides exports were primarily to China (221,000 pieces), South Korea (44,900 pieces), Mexico (23,300 pieces), Cambodia (16,500 pieces), and Turkey (9,300 pieces).  Additionally, exports of 5,700 calf skins and 2,000 kip skins were reported to Italy. 

 

Net sales of 123,400
wet blues for 2020 were up noticeably from the previous week and up 45 percent from the prior 4-week average.  Increases primarily for Vietnam (88,100 unsplit, including decreases of 23,200 unsplit), China (54,700 unsplit, including decreases of 800 unsplit),
and Taiwan (5,000 unsplit, including decreases of 100 unsplit), were offset by reductions primarily for Thailand (13,000 unsplit) and Italy (12,300 unsplit).  For 2021, net sales of 91,200 wet blues primarily for Italy (35,600 unsplit), Thailand (32,200 unsplit),
and Vietnam (16,600 unsplit), were offset by reductions for Italy (2,100 grain splits) and Hong Kong (1,500 unsplit).  Exports of 161,100 wet blues for 2020 were up 83 percent from the previous week and 43 percent from the prior 4-week average.  The destinations
were primarily to Vietnam (93,100 unsplit), China (26,000 unsplit), Italy (14,000 unsplit and 7,700 grain splits), Taiwan (11,400 unsplit), and India (3,200 unsplit).  Net sales reductions of 85,500 splits resulting in increase for Vietnam (38,800 pounds),
were offset by reductions for Vietnam (124,300 pounds).  For 2021, net sales of 88,700 splits reported for Vietnam (124,300 pounds), were offset by reductions for China (35,500 pounds).  No exports were reported.

Beef:  Net
sales of 14,900 MT reported for 2020 were up noticeably from the previous week and up 82 percent from the prior 4-week average.  Increases were primarily for Japan (3,900 MT, including decreases of 1,100 MT), China (3,100 MT, including decreases of 300 MT),
South Korea (2,900 MT, including decreases of 200 MT), Mexico (1,500 MT, including decreases of 200 MT), and Canada (900 MT, including decreases of 100 MT).  For 2021, net sales of 14,400 MT were primarily for South Korea (9,800 MT), Taiwan (2,300 MT), Japan
(700 MT), the Philippines (400 MT), and Canada (300 MT).  Exports of 27,600 MT–a market-year high–were up noticeably from the previous week and up 63 percent from the prior 4-week average.  The destinations were primarily to Japan (6,900 MT), South Korea
(6,200 MT), China (4,400 MT), Mexico (4,300 MT), and Taiwan (1,900 MT).

Pork:  Net
sales of 7,700 MT reported for 2020 were down 53 percent from the previous week and 73 percent from the prior 4-week average.  Increases primarily for Mexico (10,300 MT, including decreases of 900 MT), El Salvador (1,700 MT), China (1,600 MT, including decreases
of 4,000 MT), Japan (900 MT, including decreases of 3,000 MT), and Canada (500 MT, including decreases of 400 MT), were offset by reductions primarily for South Korea (4,200 MT), Chile (1,800 MT), and Colombia (700 MT).  For 2021, net sales of 46,300 MT were
primarily for China (22,700 MT), South Korea (5,800 MT), Japan (4,000 MT), Mexico (3,800 MT), and Colombia (2,100 MT).  Exports of 39,400 MT were down 3 percent from the previous week and 1 percent from the prior 4-week average.  The destinations were primarily
to Mexico (13,400 MT), China (13,300 MT), Japan (4,100 MT), South Korea (2,300 MT), and Canada (1,500 MT).

 

 

U.S. EXPORT SALES FOR WEEK ENDING 12/24/2020 

 

	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	32.3	1,635.2	1,489.4	57.9	5,465.6	5,419.2	0.0	22.0
SRW	35.7	507.6	560.1	24.2	1,062.2	1,532.0	0.0	145.0
HRS	259.0	1,671.3	1,363.1	183.3	4,105.8	3,929.6	0.0	45.0
WHITE	192.9	2,681.2	1,123.8	144.4	2,843.7	2,646.2	0.0	20.0
DURUM	0.7	103.8	169.1	25.0	486.5	621.3	0.0	0.0
TOTAL	520.6	6,599.2	4,705.5	434.8	13,963.9	14,148.2	0.0	232.0
BARLEY	0.1	13.7	30.2	1.4	16.9	28.7	0.0	12.5
CORN	964.5	28,967.0	9,979.6	1,339.6	14,228.5	8,375.0	0.0	757.0
SORGHUM	44.3	3,188.5	569.9	161.6	1,899.7	517.4	53.0	380.0
SOYBEANS	695.4	17,513.1	8,570.8	2,438.4	37,340.6	20,845.0	315.8	811.8
SOY MEAL	76.2	2,853.3	2,915.6	285.6	2,972.7	2,623.0	0.0	18.2
SOY OIL	60.7	293.6	154.9	13.3	194.0	270.8	0.0	0.6
RICE
L G RGH	7.1	234.8	361.7	45.2	732.3	619.0	0.0	0.0
M S RGH	0.0	16.4	15.4	0.9	12.5	15.4	0.0	0.0
L G BRN	0.1	9.6	22.0	1.3	22.0	18.3	0.0	0.0
M&S BR	0.1	61.3	48.0	0.1	34.0	11.1	0.0	0.0
L G MLD	35.8	84.5	179.7	40.2	269.7	446.8	0.0	0.0
M S MLD	3.9	182.1	152.9	3.3	190.3	247.6	0.0	0.0
TOTAL	47.1	588.7	779.7	91.1	1,260.8	1,358.2	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	287.9	6,131.7	7,549.0	275.1	5,253.4	3,925.5	15.1	795.9
PIMA	15.3	223.7	181.5	15.5	329.9	166.9	0.0	0.7