FI Morning Grain Comments 06/18/20

PDF attached includes Broiler Report charts, Cattle on Feed estimates and USDA export sales charts

 

Morning. 
US
weather is the primary focus for the CBOT agriculture markets.  Rumors China bought a small amount of US agriculture goods was in play yesterday, but we can’t confirm sales.  USDA export sales were ok for soybeans, low for corn, SBM & SBO, and good for wheat. 

 

 

 

Weather

 

 

 

UNITED
STATES

• No
  change in the general theme of weather was noted overnight
• Many
  areas in the Plains, Midwest, Delta and southeastern states will get rain over the next ten days
  
• Relief
  from recent drying and heat will be welcome
• Subsoil
  moisture will be conserved
• Increases
  in topsoil moisture are likely
• Drier
  and warmer weather is expected to evolve in the Plains during the last days of June and early July
• Parts
  of the western Corn Belt and Delta will also be involved with this drier bias in early July
• West
  Texas dryland cotton, corn, peanut and sorghum areas will receive some rain periodically in the next ten days, but it will be erratic with some counties getting significant amounts while many others mostly light rainfall
• Temperatures
  will be very warm most days and that will keep daily evaporation rates high and limit the period of benefit from any rain that falls

 

EUROPE/BLACK
SEA

• No
  significant theme changes were noted overnight
• Rain
  will be diminishing over the next few days in western Europe as a high pressure ridge builds into the region
• Rain
  will occur most frequently and significantly in eastern Europe through the weekend
• High
  pressure ridge over western Europe this weekend will expand to dominate much of Europe next week
• Ridge
  is advertised to be progressive with it shifting into the western CIS in the last days of this month
• This
  shift to the east allows rain to return in western Europe in the last days of June and early July with a new high pressure ridge coming into the far west part of Europe July 4
• This
  solution differs from that of the 00z model run in which there is no ridge advertised in western Europe in the early days of July
• Rain
  was reduced in northwestern Russia, the Baltic States, Belarus and Poland June 28-30
• This
  change was needed
• GFS
  was wetter in Scandinavia and in southeastern Europe July 1-2
• These
  increases were not expected to verify
• Drying
  is most likely in far eastern Ukraine and northern and eastern portions of Russia’s Southern Region into Kazakhstan during the coming ten days; there might also be some drying in far northwestern Russia in time

 

The
overall bottom line brings drying to many areas in western Europe during the weekend and early to mid-week next week and to northeastern Europe briefly during the latter part of next week and into the following weekend. The drier bias may be welcome in the
east along with rising temperatures. Northwestern Europe may not welcome the drier and warmer conditions for very long because of some pockets of low soil moisture still present in a part of France, the U.K. and Germany. As long as rain is quick to resume
in early July the dry down will be more beneficial than detrimental, but if the ridge prevails longer than expected that would lead to crops stress in July. World Weather, Inc. believes far western and southern parts of Europe are not very likely to be dry
for very long. Northeastern Europe could dry down for a while during July, but that is speculation for now.  World Weather, Inc. is more interested in northeastern Europe and the northwestern CIS as well as Russia’s Southern Region for dryness issues in late
June and July.

 

EASTERN
RUSSIA NEW LANDS

• Frosty
  conditions occurred this morning, but limited weather data was available and details of the temperatures was not available
• Frost
  will occur in the central eastern New Lands again Friday and in West Siberia Saturday
• No
  general theme changes to the weather were noted over the next ten days in today’s forecast model runs
• Rain
  will fall frequently immediately following the cool weather for the next ten days
• Temperatures
  will be cooler biased while rain falls periodically
• Soil
  moisture improvements will come slowly, but some benefit is expected to a part of the drier biased area near the Kazakhstan border
• A
  ridge of high pressure is advertised over the western parts of the New Lands beginning in the last weekend of this month and lingering in the first days of July
• The
  change will bring warmer and drier weather to the western New Lands in the June 28-July 1 period with some rain possible in West Siberia where cool weather may still be lingering
• The
  00z GFS model run suggested a more notable ridge would advance from west to east across the New Lands, but that solution was not very likely

 

CHINA

• No
  general theme changes were noted overnight
• The
  North China Plain and the northern half of the Yellow River Basin will see the driest weather through Monday, but some rain may impact eastern parts of the region during mid-week next week
• Some
  of the advertised rain is overdone for Shandong where 2.00 to 4.00 inches has been advertised in the past two GFS model runs
• Heavy
  rain is still expected in the Yangtze River Basin over the next ten days resulting in new flooding, although the rain is spread out over multiple days
• The
  European model is still suggesting 7.00 to more than 12.00 inches over the next ten days
• The
  ground is already saturated in this region and flooding will come easily along with a rising potential for crop damage
• Northeastern
  China is still expected to see a good mix of rain and sunshine
• Heilongjiang
  will continue wettest and in need of some drying
• Heilongjiang
  will also experience some cooler than usual weather along with the Yangtze River Basin
  

 

AUSTRALIA

• No
  significant change occurred to the general theme of weather was noted overnight
• Showers
  will occur near the south coast today and then concentrate on Victoria and eastern New South Wales Friday and from that same region into southeastern Queensland briefly Saturday
• Showers
  will then occur in southern coastal areas most often during the balance of the ten day outlook
• Western
  Australia received some welcome rain Wednesday

 

INDIA

• Rain
  will expand westward and to the north over the coming week after being confined to mostly the far east in the next few days
• The
  outlook for the next two weeks is still looking very good for most of the nation
• Some
  net drying is expected in the far south and in the interior west, but rain is likely in most other areas and sufficient amounts to support planting, germination and establishment of summer crops

 

SOUTH
AMERICA

• Rain
  Buenos Aires over the past day and a half was extremely beneficial for wheat planting, emergence and establishment
• Some
  rain fell northward into Santa Fe and Entre Rios Wednesday while far western parts of the nation failed to get a good amount of rain
• Monday
  and Tuesday will be the next best time for rain, but that precipitation will be mostly confined to far eastern parts of the nation from eastern Buenos Aires to Corrientes and eastern Chaco
• Net
  drying will then occur the remainder of next week and into the following weekend
• Greatest
  cooling in the next ten days will occur in mid- to late-week next week

Source:
World Weather Inc. and FI

 

Reuters
Headlines for CPC:

• JULY-AUGUST-SEPTEMBER
  OUTLOOK PREDICTS LIKELY ABOVE NORMAL TEMPERATURES ACROSS ALASKA AND MOST OF THE CONTIGUOUS U.S.
• JULY-AUGUST-SEPTEMBER
  OUTLOOK PREDICTS ABOVE NORMAL PRECIPITATION TO BE LIKELY FOR SOUTHERN REGIONS OF ALASKA, INCLUDING ALEUTIAN ISLANDS AND ALASKA PANHANDLE
• ABOVE
  NORMAL PRECIPITATION IS ALSO LIKELY FOR MUCH OF EASTERN CONTIGUOUS U.S.
• BELOW
  NORMAL PRECIPITATION LIKELY FOR MUCH OF PACIFIC NORTHWEST, NORTHERN AND CENTRAL ROCKIES, PARTS OF NORTHERN GREAT BASIN, NORTHEAST REGIONS OF FOUR CORNERS REGION

 

 

 

Bloomberg
Ag Calendar

THURSDAY,
June 18:

• USDA
  weekly crop net-export sales for corn, soybeans, wheat, cotton, 8:30am
• Brazil
  Conab releases 2nd estimate for 2020 coffee crop, Sao Paulo
• Port
  of Rouen data on French grain exports
• USDA
  total milk production, 3 pm

FRIDAY,
June 19:

• ICE
  Futures Europe weekly commitments of traders report, 1:30pm (6:30pm London)
• CFTC
  commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
• FranceAgriMer
  weekly update on crop conditions
• U.S.
  Cattle on Feed, 3pm

SATURDAY,
June 20:

• Malaysia’s
  palm oil export data for June 1-20

Source:
Bloomberg and FI

 

 

 

 

 

USDA
export sales

• Soybean
  export sales were within expectations, meal below, and soybean oil lower end of expectations.
  
• China
  took 320k old crop and 1.033MMT of new crop soybeans.
• Corn
  export sales were poor along with sorghum.
• All-wheat
  export sales topped expectations. 
• Pork
  sales were 38,600 tons, good in our opinion.

 

 

 

 

Macros

·        
US Initial Jobless Claims Jun-13: 1508K (exp 1290K; R prev 1566K)

–         
Continuing Claims Jun-6: 20544M (exp 19850K; R prev 20606K)

·        
US Philadelphia Fed Business Index Jun: 27.5 (exp -23.0; prev -43.1)

·        
Canadian Wholesale Trade (M/M) Apr: -21.6% (exp -12.6%; prev -2.2%)

·        
Canadian New Housing Price Index May: 0.1% (prev 0.0%)

·        
Canadian ADP Revises April Job Loss To 2.4Mln From 226.7K

–         
Employment Rose 208.4K In May

 

 

Corn.

·        
Heat across the western Corn Belt is supporting corn futures.  We estimate managed money was net short 292,000 contracts headed into today. 

·        
China corn futures remain near a 5-year high despite corn reserve sales. 

·        
China sold nearly 4 million tons of mostly 2015 crop-year corn from reserves on Thursday, bringing sales over a 4-week period to nearly 16MMT.  Sinograin will about 663,000 tons from the 2016 harvest on Friday. 

• US
  ethanol production increased 4,000 barrels per day to 841,000.  The trade was looking for a 39,000 barrel increase.  Stocks decreased 456,000 barrels to 21.346 million, much larger than the 78,000 barrels the trade expected.  Production is up 7 consecutive
  weeks and stocks have now fallen 8 consecutive weeks.  Gasoline stocks fell 1.7 million barrels. 
  

·        
USDA Cattle on Feed is due out at the end of the week.  USDA May Cattle on Feed survey is calling for a 26.1% drop in marketings as meat plants slowed due to COVID-19.

·        
The weekly USDA Broiler Report showed eggs set in the United States up 2 percent and chicks placed down 1 percent.  Cumulative placements from the week ending January 4, 2020 through June 13, 2020 for the United States were 4.45
billion. Cumulative placements were down 1 percent from the same period a year earlier.

 

Corn
Export Developments

• South
  Korea’s FLC seeks 69,000 tons of corn for October shipment.

 

 

Soybean
complex.

• CBOT
  soybeans are higher on follow through buying from yesterday (July soybeans had an outside day), heat projected for the WCB and rumors of China buying US agriculture products, including soybeans.  USDA export sales were good for soybeans but poor for the products. 
  Fears a second wave of Covid-19 will hit the US may limit upside movement for soybeans.  Product prices are slightly higher. Offshore values are signaling a bearish undertone for the products, which may result is a little pressure to CBOT crush. 
  
• Other
  fundamental news was light.
• BRL
  weakened to 5.3736 against the USD (2.8%) at the time this was written.
• Rotterdam
  values this morning showed soybean oil were unchanged from this time previous session, rapeseed oil up 5 in the nearby, and soybean meal when imported from South America 1-6 euros lower. 
  
• Offshore
  values this morning was leading CBOT soybean oil 1 point lower and meal $1.00 lower. 
  

·        
China:

·        
China cash crush margins as of this morning, using our calculation, were 49 cents per bushel (45 previous), and compares to 50 cents a week ago and 72 cents around this time last year.

·        
Malaysia: 

 

Oilseeds
Export Developments

• Egypt’s
  GASC seeks 3,000 tons of soybean oil and 2,000 tons of sunflower oil for Aug 10-30 shipment. 
  
• Syria
  will retender for 50,000 tons of soymeal and 50,000 tons of corn on June 24 for delivery within four months of contract.

 

 

BRL

Source:
Reuters and FI

 

Wheat

• US
  wheat basis July Chicago was higher on technical rebound and higher EU wheat.  The contract hit its lowest level since October yesterday.  USDA export sales topped expectations.  MN and KC were higher on US and Canadian weather concerns.  Global import tenders
  are rising.
• Egypt’s
  GASC seeks 60,000 tons or more of wheat for July 25 to Aug 5 shipment. Lowest offer was $206.95/ton for 60,000 tons of Russian wheat. 
  
• Paris
  December wheat was up 0.75 euros at 183.50 at the time this was written.
  

 

 

Export
Developments.

• Egypt’s
  GASC seeks 60,000 tons or more of wheat for July 25 to Aug 5 shipment. Lowest offer was $206.95/ton for 60,000 tons of Russian wheat. 
  
• Tunisia’s
  bought 176,000 tons of soft milling wheat and 50,000 tons of animal feed barley, optional origin for August shipment.  Lowest price paid for the soft wheat was said to be $211.98 a ton c&f, lowest price for the barley was believed to be $196.23 a ton c&f.
• Japan
  bought 76,143 tons of food wheat from the US and Australia this week. 

• Taiwan
  Flour Millers’ Association seeks 88,815 tons of US milling wheat on June 19.  One consignment of 39,300 tons is sought for shipment between Aug. 10 and Aug. 24 while a second of 49,515 tons is sought for shipment between Aug. 26 and Sept. 9. (Reuters)
• Japan
  seeks 80,000 tons of feed wheat and 100,000 tons of feed barley on June 24 for arrival by November 26. 
  
• Ethiopia
  seeks 400,000 tons of wheat on July 10 for shipment within two months.    
  

 

Rice/Other

• South
  Korea’s Agro-Fisheries and Food Corp seeks 80,605 tons of non-glutinous rice for October 2020 and March 2021 shipment.
  

    TONNES(M/T)   
GRAIN TYPE    ORIGIN    ARRIVAL/PORT

           
90     Milled Long   Thailand  Oct 31,2020/Busan

        
1,410     Milled Long   Thailand  Oct 31,2020/Busan

       
20,000     Brown Short   China     Jan 31,2021/Gunsan

       
20,000     Brown Short   China     Jan 31,2021/Ulsan

       
20,000     Brown Short   China     March 31,2021/Donghae

       
19,105     Brown Short   China     March 31,2021/Mokpo

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING 6/11/2020                               

	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	229.0	2,038.7	2,145.8	166.7	288.5	454.1	0.0	0.0
SRW	57.0	571.1	895.8	15.4	17.5	45.8	0.0	0.0
HRS	127.2	1,767.1	1,358.0	112.0	130.0	172.9	0.0	0.0
WHITE	88.3	1,059.4	945.9	165.5	174.5	105.3	0.0	0.0
DURUM	3.3	238.2	179.1	27.1	48.5	33.0	0.0	0.0
TOTAL	504.8	5,674.4	5,524.6	486.6	658.9	811.1	0.0	0.0
BARLEY	0.0	40.2	49.3	0.0	0.5	1.2	0.0	0.0
CORN	357.8	10,361.1	6,545.1	877.4	31,129.7	41,900.0	114.8	3,553.2
SORGHUM	-3.3	941.3	414.6	215.7	3,071.9	1,147.4	110.0	388.0
SOYBEANS	538.1	7,593.0	11,101.1	387.5	36,606.1	36,327.1	1,382.1	5,534.4
SOY MEAL	124.0	2,369.3	2,630.1	200.8	8,480.8	8,597.9	58.0	343.9
SOY OIL	6.4	265.5	142.5	1.7	900.5	623.6	0.0	11.0
RICE
L G RGH	0.0	158.1	166.5	29.1	1,245.8	1,187.1	0.0	57.0
M S RGH	-5.7	26.2	15.5	5.0	70.2	81.5	5.7	5.7
L G BRN	0.2	12.6	3.1	0.2	55.4	38.2	0.0	0.0
M&S BR	0.1	38.0	2.7	3.5	80.9	144.3	0.0	0.0
L G MLD	18.1	58.9	186.7	5.5	824.8	764.4	0.0	0.0
M S MLD	2.1	144.8	135.4	20.4	584.5	507.0	0.0	0.0
TOTAL	14.8	438.7	509.9	63.7	2,861.6	2,722.4	5.7	62.7
COTTON		THOUSAND RUNNING BALES
UPLAND	97.6	4,864.9	4,078.8	348.3	11,958.0	10,970.2	148.4	3,176.1
PIMA	4.9	131.2	148.0	5.9	434.5	572.5	0.0	33.9

 

 

 

Export Sales Highlights 

This
summary is based on reports from exporters for the period June 5-11, 2020.

• Wheat:  Net
  sales of 504,800 metric tons (MT) were reported for delivery in marketing year 2020/2021.  Increases primarily for Guatemala (128,500 MT, including 32,800 MT switched from unknown destinations and decreases of 400 MT), Mexico (102,200 MT, including decreases
  of 4,400 MT), Sri Lanka (65,000 MT), Nigeria (60,000 MT), and Honduras (40,500 MT), were offset by reductions primarily for unknown destinations (26,500 MT).  Exports of 486,600 MT were primarily to the Philippines (118,100 MT), Mexico (66,100 MT), Yemen (54,000
  MT), Japan (51,900 MT), and Chile (36,000 MT). 
• Corn: 
  Net sales of 357,800 MT for 2019/2020 were down 46 percent from the previous week and 45 percent from the prior 4-week average.  Increases primarily for unknown destinations (81,700 MT), South Korea (72,600 MT, including 69,600 MT late – see below), Guatemala
  (50,300 MT, including decreases of 1,200 MT), Mexico (47,400 MT, including decreases of 14,000 MT), and Venezuela (42,900 MT, including 42,000 MT switched from unknown destinations and decreases of 1,000 MT), were offset by reductions for Jamaica (11,200 MT)
  and Canada (9,800 MT).  For 2020/2021, net sales of 114,800 MT reported for Guatemala (74,800 MT), Jamaica (20,700 MT), Canada (10,200 MT), Japan (8,000 MT), and Nicaragua (2,000 MT), were offset by reductions for Mexico (900 MT).  Exports of 877,400 MT were
  down 29 percent from the previous week and from the prior 4-week average.  The destinations were primarily to Mexico (222,900 MT), Japan (176,300 MT), South Korea (135,300 MT, including 69,600 MT late – see below), China (66,100 MT), and the Philippines (56,700
  MT).  Optional Origin Sales:  For 2019/2020, options were exercised to export 69,000 MT to South Korea from the United States.  The current outstanding balance of 390,000 MT is for South Korea (260,000 MT), Vietnam (65,000 MT), and Taiwan (65,000 MT).  For
  2020/2021, the current outstanding balance of 195,000 MT is for Vietnam.  Late Reporting:  For 2019/2020, net sales totaling 69,600 MT were reported late.  These sales were reported for South Korea.  For 2019/2020, exports totaling 69,600
  MT were reported late.  The destination was to South Korea.
• Barley: 
  No net sales or exports for 2020/2021 were reported for the week.
• Sorghum: 
  Net sales reductions of 3,300 MT for 2019/2020 were down noticeably from the previous week and from the prior 4-week average.  Increases reported for China (116,500 MT, including 117,000 MT switched from unknown destinations and decreases of 3,900 MT) and
  New Zealand (1,700 MT), were more than offset by reductions primarily for unknown destinations (121,000 MT).  For 2020/2021, total net sales of 110,000 MT were for China.  Exports of 215,700 MT were down 6 percent from the previous week, but up 18 percent
  from the prior 4-week average.  The destinations were primarily to China (171,500 MT) and New Zealand (34,700 MT).
  
• Rice: 
  Net sales of 14,800 MT for 2019/2020 were down noticeably from the previous week and down 24 percent from the prior 4-week average.  Increases primarily for Haiti (15,300 MT), Saudi Arabia (2,200 MT), Canada (2,200 MT), and Honduras (100 MT), were offset
  by reductions for Mexico (5,100 MT) and El Salvador (100 MT).  For 2020/2021, total net sales of 5,700 MT were for Mexico.  Exports of 63,700 MT were up 29 percent from the previous week and 16 percent from the prior 4-week average.  The destinations were
  primarily to Honduras (25,100 MT), Japan (15,100 MT), South Korea (6,100 MT), Portugal (5,000 MT), and Canada (3,300 MT).
  Exports
  for Own Account: 
  For 2019/2020, 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 538,100 MT for 2019/2020 were down 46 percent from the previous week and 36 percent from the prior 4-week average.  Increases primarily for China (320,000 MT, including decreases of 1,000 MT), Egypt (100,800 MT, including 30,600 MT switched from
  unknown destinations), unknown destinations (32,000 MT), Taiwan (23,300 MT), and Lebanon (19,400 MT, switched from unknown destinations), were offset reductions for Japan (5,200 MT).  For 2020/2021, net sales of 1,382,100 MT were primarily for China (1,033,000
  MT), unknown destinations (253,000 MT), Mexico (74,000 MT), and Taiwan (18,000 MT).  Exports of 387,500 MT were up 32 percent from the previous week, but down 4 percent from the prior 4-week average.  The destinations were primarily to Egypt (90,800 MT), Mexico
  (77,100 MT), China (66,100 MT), Bangladesh (56,000 MT), and Canada (28,700 MT).  
  Exports for Own Account:  For 2019/2020, the current exports for own account outstanding balance is 2,100 MT, all Canada.
• Soybean
  Cake and Meal: 
  Net sales of 124,000 MT for 2019/2020 were down 40 percent from the previous week and 54 percent from the prior 4-week average.  Increases primarily for Morocco (45,000 MT), the Philippines (24,100 MT), Canada (23,200 MT, including decreases of 600 MT), Ecuador
  (15,000 MT), and Peru (6,200 MT, including 6,600 MT switched from unknown destinations and decreases of 400 MT), were offset by reductions for unknown destinations (12,000 MT), El Salvador (6,000 MT), Jamaica (1,100 MT), and Belgium (600 MT).  For 2020/2021,
  net sales of 58,000 MT were reported for Morocco (30,000 MT), Ecuador (20,000 MT), Guatemala (6,000 MT), Mexico (1,300 MT), and Canada (700 MT).  Exports of 200,800 MT were up 11 percent from the previous week, but down 11 percent from the prior 4-week average. 
  The destinations were primarily to the Philippines (50,200 MT), Jamaica (29,900 MT), Canada (23,200 MT), Mexico (20,400 MT), and Peru (18,200 MT).
  
• Soybean
  Oil:  Net
  sales of 6,400 MT for 2019/2020 were for Colombia (2,800 MT), Mexico (2,300 MT), the Dominican Republic (1,100 MT), and Canada (200 MT).  Exports of 1,700 MT–a marketing-year low–were down 74 percent from the previous week and 95 percent from the prior 4-week
  average.  The destinations were primarily to Haiti (700 MT), Mexico (500 MT), and Canada (400 MT).
• Cotton: 
  Net sales of 97,600 RB for 2019/2020 were down 76 percent from the previous week and 31 percent from the prior 4-week average.  Increases reported for China (90,700 RB), Vietnam (19,000 RB, including 300 RB switched from Japan and decreases of 1,000 RB), Thailand
  (2,100 RB, including 200 RB switched from Japan), Indonesia (1,600 RB, including 1,000 RB switched from Japan), and Taiwan (400 RB), were offset by reductions primarily for Turkey (6,800 RB), El Salvador (4,000 RB), Mexico (2,100 RB), and Japan (1,800 RB). 
  For 2020/2021, net sales of 148,400 RB were primarily for Vietnam (100,300 RB), China (24,200 RB), and Turkey (17,700 RB).  Exports of 348,300 RB were up 18 percent from the previous week and 32 percent from the prior 4-week average.  Exports were primarily
  to China (123,500 RB), Vietnam (89,900 RB), Turkey (49,900 RB), Pakistan (24,000 RB), and Bangladesh (13,300 RB).  Net sales of Pima totaling 4,900 RB were up 45 percent from the previous week and 35 percent from the prior 4-week average.  Increases reported
  for Peru (2,200 RB), India (1,800 RB), China (1,300 RB), and Brazil (100 RB), were offset by reductions for Pakistan (400 RB) and Honduras (100 RB).  Exports of 5,900 RB were down 60 percent from the previous week, but up 4 percent from the prior 4-week average. 
  The destinations were primarily to China (3,500 RB), El Salvador (800 RB), Turkey (800 RB), and Austria (700 RB). 
  Exports for Own Account:  For 2019/2020, exports for own account totaling 5,500 RB to Vietnam were applied to new or outstanding sales.  The current exports for own account outstanding balance of 18,000 RB is for China (8,500 RB), Indonesia (8,200 RB),
  Bangladesh (1,000 RB),
  and Vietnam (300 RB). 

·        
Hides and Skins:
Net sales of 349,400 pieces for 2020 were down 54 percent from the previous week and 28 percent from the prior 4-week average.  Increases primarily for China (313,100 whole cattle hides, including decreases of 33,400 pieces), Mexico (9,800 whole cattle hides),
South Korea (8,400 whole cattle hides, including decreases of 700 pieces), Vietnam (7,100 whole cattle hides), and Thailand (7,000 whole cattle hides, including decreases of 100 pieces), were offset by reductions for Indonesia (500 whole cattle hides), Canada
(200 whole cattle hides), and Brazil (200 whole cattle pieces). 
Additionally, net sales of 2,000 calf skins were reported for Italy. 
Exports of 514,900 pieces reported for 2020–a marketing-year high–were up 20 percent from the previous week and 21 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (442,300 pieces), South Korea (48,000 pieces), Thailand
(8,000 pieces), Mexico (7,000 pieces), and Indonesia (4,300 pieces). 

·        
Net sales of 27,500 wet blues
for 2020 were down 80 percent from the previous week and 68 percent from the prior 4-week average.  Increases reported for Italy (25,100 unsplit, including decreases of 700 unsplit) and China (2,600 unsplit), were offset by reductions for Brazil (100 grain
splits).  Exports of 78,300 wet blues for 2020 were down 15 percent from the previous week, but up 1 percent from the prior 4-week average.  The destinations were to Italy (65,200 unsplit), Thailand (6,400 unsplit), Vietnam (2,900 unsplit), Brazil (2,100 grain
splits), and the Dominican Republic (1,600 unsplit).  Net sales reductions of 170,900 splits resulting in increases for China (300 pounds), were more than offset by reductions for Vietnam (171,200 pounds).  Exports of 124,800 pounds were to Vietnam (120,000
pounds) and China (4,800 pounds).

·        
Beef:
Net
sales of 20,100 MT reported for 2020 were down 1 percent from the previous week, but up 67 percent from the prior 4-week average.  Increases were primarily for South Korea (8,800 MT, including decreases of 300 MT), Japan (3,500 MT, including decreases of 700
MT), Hong Kong (2,500 MT), Taiwan (2,000 MT, including decreases of 100 MT), and Canada (1,300 MT, including decreases of 200 MT).  For 2021, total net sales of 100 MT were for Japan.  Exports of 8,500 MT were down 23 percent from the previous week and 21
percent from the prior 4-week average.  The destinations were primarily to Japan (3,400 MT), South Korea (2,200 MT), Mexico (700 MT), Hong Kong (700 MT), and Taiwan (600 MT).

·        
Pork:
Net sales of 38,600
MT reported for 2020 were up noticeably from the previous week and from the prior 4-week average.  Increases were primarily for Mexico (13,600 MT, including decreases of 200 MT), China (10,000 MT, including decreases of 700 MT), Canada (3,600 MT, including
decreases of 300 MT), Japan (2,200 MT, including decreases of 400 MT), and Taiwan (1,700 MT).  Exports of 33,500 MT were up 6 percent from the previous week, but down 9 percent from the prior 4-week average.  The destinations were primarily to China (13,700
MT), Mexico (9,200 MT), Japan (3,200 MT), South Korea (1,800 MT), and Canada (1,800 MT).

 

June 18, 2020                                                    1            
                         FOREIGN AGRICULTURAL SERVICE/USDA

                                                                                                SUMMARY OF EXPORT TRANSACTIONS
                                                                                 REPORTED UNDER THE DAILY SALES REPORTING SYSTEM
                                                                                                FOR PERIOD ENDING JUNE 11, 2020 

COMMODITY                                             DESTINATION                                            QUANITY (MT)                            MARKETING YEAR

SOYBEANS                                                 CHINA                                                           63,000 MT 1/                                2019/2020

SOYBEANS                                                 CHINA                                                         786,000 MT 1/                                2020/2021

SOYBEANS                                                 UNKNOWN                                                 120,000 MT 1/                                2020/2021

 

1/ Export sales.