PDF attached

 

Morning.

 

WASHINGTON,
October 16, 2020—Private exporters reported to the U.S. Department of Agriculture the following activity:

  • Export
    sales of 128,000 metric tons of corn for delivery to Mexico during the 2020/2021 marketing year;
  • Export
    sales of 175,000 metric tons of soybeans for delivery to unknown destinations during the 2020/2021 marketing year; and
  • Export
    sales of 216,150 metric tons of soybeans received during the reporting period for delivery to unknown destinations during the 2020/2021 marketing year.

 

The
soybean complex is trading higher on Chinese soybean demand, Argentina economic concerns, Brazil considering lowering soybean and corn import tariffs for countries outside Mercosur, slow Mato Grosso, Brazil, soybean plantings, and a lower USD.  Today the Brazilian
government will open talks over lowering the import tariffs on soybean and corn imports for countries outside the Mercosur block trade.  Back in September they cut rice import tariffs to zero through the end of the year.  Brazil is seeing extremely high corn
and soybean domestic prices.  We were hearing China bought at least two Dec Gulf soybean cargoes on Thursday and were in for at least one Mar Brazilian cargo. 

 

Corn
is higher on a lower USD expectations China will import more than 10 million tons of corn in 2021.  We have an upward target of $4.20 for December corn futures.  South Korea’s KFA bought 65,000 tons of South America corn at $246.83/ton c&f for arrival around
March 30, 2021. Two days ago, KFA paid $247.69/ton for arrival around Jan 20.  Yesterday KOCOPIA paid $251.82/ton from Brazil for arrival by Jan 20. 

 

A
lower USD is helping most US wheat futures contracts trade higher.  Nearby Chicago wheat is nearly trading at a 6-year high.  KC is at an Aug 2018 high.  Egypt sales they have enough reserves for more than seven months.  They may tender for wheat after the
close. Paris (Matif) December wheat was 0.75 higher at 207.50 euros.  South Korea’s MFG bought 60,000 tons of US feed wheat at $268.40/ton c&f out of the PNW for Feb 15-Mar 15 shipment.  

 

Offshore
values this morning were leading CBOT soybean oil 23 higher (54 lower for the week to date) and meal $3.90 higher ($2.00 higher for the week to date). 

 

 

 

Weather
and Crop Progress

 

 

 

United
States

  • Today’s
    outlook is wetter in the Midwest which may slow some fieldwork over the next week
  • Rain
    is advertised to fall frequently Sunday through Friday of next week across the Midwest resulting in a much slower harvest pace especially in the lower and eastern Midwest
    • The
      moisture will ease dryness in the lower Midwest and improve winter crop establishment potentials
  • No
    change was noted in the dry areas of the west-central or southwestern U.S. Plains
  • Waves
    of snow and rain move through the northern Plains in the coming week improving topsoil moisture for some winter crops especially in Montana, but slowing harvest progress in a few areas as well
  • Southeast
    U.S. precipitation stays limited for much of the coming week to ten days benefiting fieldwork of all kinds
  • U.S.
    Delta gets some periodic rainfall that might slow farming activity a little
  • Temperatures
    will be colder than usual in the north-central U.S. and Canada’s Prairies with some cooling creeping into the Midwest as well over time

 

South
America

  • No
    serious changes to the general theme were noted overnight
    • Argentina
      will get some needed rain early next week with a little follow up rain late next week and into the following weekend
    • One
      more round of rain occurs in Argentina, according to the GFS model run, October 26-27 followed by several days of drying
    • Brazil
      rainfall will be limited in center west crops areas, especially Mato Grosso, through the coming week and then will begin receiving more routinely occurring rainfall supporting planting and establishment of soybeans and other crops in the last week of this
      month
    • Brazil
      rain will fall more routinely in some center south crop areas over the next two weeks

 

RUSSIA’S
SOUTHERN REGION/BLACK SEA REGION

  • Today’s
    outlook for eastern Ukraine, Russia’s Southern Region and Kazakhstan has not changed for the coming ten days
    • Some
      showers are expected, but only a few locations will get enough moisture to support better winter crop establishment
      • Greater
        rain will still be needed to establish this year’s crops prior to dormancy

 

CHINA

  • No
    significant changes were noted overnight
    • A
      general improving trend for the nation is expected over the next two weeks with less frequent and less significant rain expected

 

INDIA

  • Not
    much changed overnight
    • Central
      India will be bothered by rain this weekend and early next week and then drier weather is expected
    • Rain
      will continue in southern and eastern parts of the nation for the coming week to ten days with some decreasing rainfall in the last days of this month

 

AUSTRALIA

  • The
    overnight forecast model runs reduced some of the rain suggested for Queensland and northeastern New South Wales next week and into the following weekend
    • This
      change was needed
  • No
    other changes of significance were noted for the nation
    • Wheat
      areas of Western Australia may get a few brief showers in the far south, but net drying is expected to continue in general

Source: 
World Weather Inc. 

 

Bloomberg
Ag Calendar

Friday,
Oct. 16:

  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
  • 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
  • Asia
    3Q cocoa grinds
  • Cocoa
    Association of Asia’s webinar on Asian cocoa demand
  • Leman
    China Swine Conference, Chongqing, day 3

Monday,
Oct. 19:

  • USDA
    weekly corn, soybean, wheat export inspections, 11am
  • U.S.
    crop conditions, harvesting progress for soybeans, corn, cotton, 4pm
  • EU
    weekly grain, oilseed import and export data
  • Ivory
    Coast cocoa arrivals

Tuesday,
Oct. 20:

  • Malaysia
    Oct. 1-20 palm oil export data
  • Virtual
    international palm oil sustainability conference, Q&A Session
  • USDA
    total milk production, 3pm
  • New
    Zealand global dairy trade auction

Wednesday,
Oct. 21:

  • EIA
    U.S. weekly ethanol inventories, production, 10:30am

Thursday,
Oct. 22:

  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
  • Port
    of Rouen data on French grain exports
  • USDA
    red meat production, 3pm
  • U.S.
    cold storage data – pork, beef, poultry

Friday,
Oct. 23:

  • China
    customs publishes trade data on imports of corn, wheat, sugar and cotton
  • 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
  • Unica
    data on Brazil’s cane crush, sugar production (tentative)
  • U.S.
    cattle on feed, poultry slaughter, 3pm
  • HOLIDAY:
    Thailand

Source:
Bloomberg and FI

 

 

 

 

 

USDA
Export Sales

·        
USDA export sales for soybeans were an excellent 2.631 million tons, slightly above the previous week and included 1.6 million tons for China (including 529,000 MT switched from unknown destinations). 

·        
Soybean meal sales dropped from the previous week to 152,200 tons but shipments were ok at 227,100 tons. 

·        
Soybean oil export sales were poor at only 1,400 tons.  Shipments were 18,300. 

·        
USDA corn export sales were at the lower end of trade expectations at 652,200 tons.  Mexico was the largest buyer.  China was only 140,700 tons and included 65,000 tons switched from South Korea
and decreases of 3,200 tons. 

·        
All-wheat export sales were steady from the previous week at 528,500 tons.  Mexico and Japan were the largest buyer.  China was in there for a cargo but much of it was switched from unknown.

 

 

 

Macros

US
Retail Sales (M/M) Sep 1.9% (est 0.7%; prev 0.6%)

-US
Retail Sales Ex. Auto (M/M) Sep 1.5% (est 0.5%; prevR 0.5%; prev 0.7%)

-US
Retail Sales Ex. Auto & Gas (M/M) Sep 1.5% (est 0.5%; prevR 0.5%; prev 0.7%)

-US
Retail Sales Control Group (M/M) Sep 1.4% (est 0.2%; prevR -0.3%; prev -0.1%)

Canada
Manufacturing Sales (M/M) Aug -2.0% (est -1.4%; prevR 7.2%; prev 7.0%)

 

 

Corn.

  • We
    have an upward target of $4.20 for December corn futures. 
  • Argentina’s
    Rosario grains exchange left their corn production estimate unchanged at 48 million tons. 
  • China
    corn futures traded higher Friday. 
  • Germany
    ASF: One new case; 70 cases since September 10 
  • Germany
    is in talks with Asian countries to lift pork import bans. 
  • The
    USDA Broiler Report showed broiler-type eggs set in the United States up 2 percent and chicks placed down 3 percent.  Cumulative placements from the week ending January 4, 2020 through October 10, 2020 for the United States were 7.61 billion. Cumulative placements
    were down 1 percent from the same period a year earlier.
  • Weekly
    US ethanol production increased a more than expected 14,000 to 937,000 barrels, highest since early September and stocks were also up a more than expected 336,000 barrels to 20.008 million.  A Bloomberg poll looked for weekly US ethanol production to be up
    6,000 and stocks to be up 124,000 barrels.   Sep 1 to date production is down 6.5 percent compared to the same period year ago. 

 

USDA
Attaché: Brazil Corn Ethanol Boom

https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Corn%20Ethanol%20Production%20Booms%20in%20Brazil%20_Brasilia_Brazil_10-04-2020

 

Corn
Export Developments

  • USDA
    announced private exporters sold: 128,000 tons of corn for delivery to Mexico during the 2020/2021 marketing year.
  • South
    Korea’s KFA bought 65,000 tons of South America corn at $246.83/ton c&f for arrival around March 30, 2021. Two days ago, KFA paid $247.69/ton for arrival around Jan 20.  Yesterday KOCOPIA paid $251.82/ton from Brazil for arrival by Jan 20. 
  • Results
    awaited:  Algeria seeks 30,000 tons of feed corn and 25,000 tons of feed barley on October 15. 

  • Iran
    opened a new tender for 200,000 tons of barley, set to close October 21. 

 

China
could potentially have a large impact on the global corn balance sheet.  Up until a few years ago, many analysts looked at the USDA global balance sheet to get a sense of global demand, or at least changes in stocks from year over year, until China stocks
swelled.  Then analysts starting backing out China from the world balance sheet as stocks in that country were considered a mystery, until this year, after China depleted a large amount of corn from their reserves by selling old crop corn on the local market
after domestic prices rose to around 5-year highs.  The September CPI food inflation index for China increased 7.9% from the previous year thanks to tightening meat supplies while nonfood inflation was unchanged.   

 

What
we found when going back to 1980-81 crop year, the current world STU ratio which includes China suggests 2020-21 CBOT corn should average $3.25.  But when backing out China (World less China), the average price suggests $4.40 per bushel. 

 

The
fact that China sold more than 55 million tons of corn out of 2014 & 2015 crop year state reserves in 2020 tells us the secret state run corn reserves could be much lower than what USDA has penciled in, as China has not procured a great amount of corn from
producers over the past three crop year campaigns, and that makes us think China will need to make up for the shortfall by importing large amounts of corn, if they want to ensure a large sizeable corn reserve. 

 

China
over the next decade may change the landscape of the world corn balance sheet by becoming a very large major importer.  World corn stocks could easily halve as early as 2023-24 if China drops their current self-sufficiency policy and allows both government
state run firms and private companies to import more than 20 million tons of corn per year.  The largest impact may have to come from the private side.  2020 corn TRQ import ceiling is currently set at 7.2 million tons but raised it earlier this year to 9.2
million tons.  If  China changes their grain TRQ import policies by raising and/or abolishes TRQ’s, China corn, and other grain end users may end up importing large amounts of wheat, barley, oats, DDGS, sorghum and corn from 2021 onward.  On the government
side, an initiative to restock reserves with 2019 and 2020 crop year corn could be massive, given China has already unleashed more than 55 million tons in 2020.  Remember China is spending money to build out storage facilities throughout the country.  China
could be the sleeping giant when it comes to the long term outlook in corn futures. 

 

 

 

Soybean
complex
.
 

 

 

The
September US NOPA crush came in at 161.5 million bushels, 2.2 percent below August and up 5.8 percent from 152.6 million last year.  On a daily adjusted basis, the September crush improved 1.1 percent from the August rate to 5.38 bushels per day, and well
up from 5.08 million bushels per day for September 2019.  The September crush was 0.7 million above trade expectations.  Soybean oil stocks declined to 1.433 billion pounds, 21 million above an average trade guess. Soybean meal exports were excellent at 991,000
short tons, a record for the month and well above 755,000 during August.  This was seen bullish for soybean meal.  2019-20 US soybean meal exports came in 9.1 percent above 2018-19. 

 

 

Oilseeds
Export Developments

  • Syria
    seeks 50,000 tons of soybean meal and 50,000 tons of corn on October 26 for delivery within four months of contract. 

 

Wheat

 

Export
Developments.

  • South
    Korea’s MFG bought 60,000 tons of US feed wheat at $268.40/ton c&f out of the PNW for Feb 15-Mar 15 shipment. 
  • Awaited:
    Offers around $284/ton – Pakistan seeks 300,000 tons of wheat on October 14 for arrival by end of January. 
  • Awaited:
    5 participants – Ethiopia seeks 400,000 tons of wheat by October 13.
  • Awaited:
    (new 9/15) Ethiopia seeks about 200,000 tons of milling wheat on October 15.
  • Jordan
    issued a new tender for 120,000 tons of wheat set to close October 21. 
  • Japan
    seeks 80,000 tons of feed wheat and 100,000 tons of feed barley on October 21 for arrival by February 25. 
  • Turkey
    seeks 175,000 tons of wheat on October 22 for shipment between November 9 and November 24. 

 

Rice/Other

·        
Mauritius seeks 5,500 tons of white rice on October 20 for Dec 15-Mar 15, 2021 delivery.

 

 

Export Sales Highlights

This
summary is based on reports from exporters for the period October 2-8, 2020.

 

Wheat:  Net
sales of 528,500 metric tons (MT) for 2020/2021 were unchanged from the previous week, but up 23 percent from the prior 4-week average.  Increases primarily for Mexico (229,000 MT, including decreases of 11,000 MT), Japan (62,200 MT), China (57,400 MT, including
50,000 MT switched from unknown destinations and decreases of 2,000 MT), Thailand (55,000 MT), and unknown destinations (47,500 MT), were offset by reductions for the Philippines (28,400 MT) and Brazil (1,700 MT).  For 2021/2022, nets sales of 71,200 MT were
for Brazil (60,000 MT) and Mexico (11,200 MT).  Exports of 506,700 MT were down 28 percent from the previous week and 15 percent from the prior 4-week average.  The destinations were primarily to China (182,400 MT), Nigeria (96,900 MT), Brazil (58,300 MT),
the Philippines (54,300 MT), and Mexico (36,200 MT).   Optional Origin Sales:  For 2020/2021, new optional origin sales of 10,000 MT were reported for Spain.  The current outstanding balance of 10,000 MT, all Spain. 
Late Reporting:  For 2020/2021, exports totaling 9,900 MT were reported late.  The destination was Colombia.

Corn: 
Net sales of 655,200 MT for 2020/2021 were down 47 percent from the previous week and 63 percent from the prior 4-week average.  Increases primarily for Mexico (203,800 MT, including decreases of 1,200 MT), Colombia (184,200 MT, including 33,000 MT switched
from unknown destinations and decreases of 5,800 MT), Japan (175,800 MT, including 70,900 MT switched from unknown destinations and decreases of 5,100 MT), China (140,700 MT, including 65,000 MT switched from South Korea and decreases of 3,200 MT), and Costa
Rica (47,800 MT), were offset by reductions for unknown destinations (152,100 MT) and South Korea (7,700 MT).  Exports of 815,100 MT were down 13 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily to
Mexico (306,500 MT), China (269,700 MT), South Korea (58,000 MT), Honduras (49,100 MT), and Colombia (43,200 MT). 
Optional Origin Sales:  For 2020/2021, new optional origin sales of 65,000 MT were reported for Ukraine.  The current outstanding balance of 804,800 MT is for Vietnam (260,000 MT), Taiwan (204,200 MT), Argentina (127,000 MT), Ukraine (95,000 MT), South
Korea (65,000 MT), and unknown destinations (53,600 MT).

Barley: 
No net sales were reported for the week.  Exports of 200 MT were to Taiwan.

Sorghum: 
No
net sales were reported for the week.  Exports of 600 MT were primarily to China.

Rice: 
Net sales of 10,000 MT for 2020/2021 were down 96 percent from the previous week and 92 percent from the prior 4-week average.  Increases were primarily for Canada (3,800 MT, including decreases of 100 MT), Jordan (2,100 MT), Israel (2,000 MT), Mexico (1,100
MT), and Honduras (300 MT).  Exports of 35,200 MT were up noticeably from the previous week and up 79 percent from the prior 4-week average.  The destinations were primarily to Colombia (23,000 MT), Canada (3,700 MT), Jordan (2,900 MT), Taiwan (1,600 MT),
and Mexico (1,500 MT). 
Export
Adjustments:

Accumulated export of medium brown rice to South Korea were adjusted down 1,000 MT for week ending June 25th.  This shipment was reported in error.

Soybeans: 
Net sales of 2,631,300 MT for 2020/2021were down 74 percent from the previous week, but up 18 percent from the prior 4-week average.  Increases primarily for China (1,592,500 MT, including 529,000 MT switched from unknown destinations, 1,500 MT switched from
Taiwan, and decreases of 95,200 MT), Mexico (210,400 MT, including decreases of 3,700 MT), Germany (115,700 MT), Indonesia (110,800 MT, including 68,000 MT switched from unknown destinations), and Thailand (101,200 MT, including 65,000 MT switched from unknown
destinations), were offset by reductions primarily for unknown destinations (37,700 MT).  Exports of 2,384,000 MT were down 8 percent from the previous week, but up 21 percent from the prior 4-week average.  The destinations were primarily to China (1,743,300
MT), Mexico (147,400 MT), Germany (115,700 MT), Indonesia (97,200 MT), and the Netherlands (54,600 MT).  
Optional Origin Sales:  For 2020/2021, the current outstanding balance of 126,000 MT, all China.

Exports
for Own Account:
 
For 2020/2021, the current exports for own account outstanding balance is 7,300 MT, all Canada. 
Export Adjustments: Accumulated export of soybeans to the Netherland were adjusted down 57,537 MT for week ending September 3rd and 58,117 MT for week ending September 10th.  The correct destination for these shipments is Germany
and is included in this week’s report.

Soybean
Cake and Meal

Net sales of 152,200 MT for 2020/2021, primarily for Ecuador (37,200 MT, including 30,000 MT switched from unknown destinations), Canada (32,300 MT, including decreases of 600 MT), Morocco (31,200 MT), Colombia (25,500 MT), and Venezuela (20,000 MT), were
offset by reductions primarily for unknown destinations (34,600 MT).  Exports of 227,100 MT were primarily to the Philippines (100,100 MT), Ecuador (32,200 MT), Morocco (26,200 MT), Canada (24,400 MT), and Mexico (23,400 MT). 

Soybean
Oil: 
Net sales of 1,400 MT for 2020/2021 primarily for Canada (1,800 MT) and Mexico (200 MT), were offset by reductions for the Dominican Republic (500 MT), Guatemala (100 MT), and South Korea (100 MT).  For 2021/2022, total net sales of 200 MT were for
Canada.  Exports of 18,300 MT were primarily to Venezuela (5,700 MT), Colombia (4,800 MT), Jamaica (3,000 MT), Mexico (2,700 MT), and Canada (2,100 MT).

Cotton: 
Net sales of 98,900 RB for 2020/2021 were down 45 percent from the previous week and 61 percent from the prior 4-week average.  Increases primarily for Pakistan (36,500 RB, including 500 RB switched from Indonesia), China (20,000 RB, including decreases of
13,200 RB), Guatemala (14,900 RB), Vietnam (13,800 RB), and Turkey (10,400 RB), were offset by reductions for Bangladesh (4,000 RB) and Japan (1,300 RB).  For 2021/2022, total net sales of 13,200 RB were for China.  Exports of 192,600 RB were up 35 percent
from the previous week, but down 7 percent from the prior 4-week average.  Exports were primarily to China (59,500 RB), Vietnam (51,200 RB), Mexico (20,400 RB), Pakistan (13,000 RB), and Turkey (9,700 RB).  Net sales of Pima totaling 17,800 RB were down 18
percent from the previous week and 19 percent from the prior 4-week average.  Increases were primarily for China (5,900 RB), Bangladesh (4,800 RB), India (4,200 RB, including decreases 1,800 RB), Switzerland (1,300 RB), and Pakistan (1,000 RB).  Exports of
12,700 RB were down 20 percent from the previous week and 10 percent from the prior 4-week average.  The primary destinations were China (8,200 RB), India (1,300 RB), Peru (700 RB), Vietnam (700 RB), and Honduras (700 RB). 
Exports for Own account:  For 2020/2021, the current exports for own account outstanding balance of 13,000 RB is for China (8,100 RB), Indonesia (3,900 RB), and Bangladesh (1,000 RB).

Hides
and Skins:

Net sales of 379,800 pieces for 2020 were up 33 percent from the previous week, but down 1 percent from the prior 4-week average.  Increases primarily for China (229,400 whole cattle hides, including decreases of 16,200 pieces), Mexico (55,500 whole cattle
hides, including decreases of 400 pieces), South Korea (43,400 whole cattle hides, including decreases of 1,000 pieces), Hong Kong (6,400 whole cattle hides), and Thailand (2,300 whole cattle hides, including decreases of 100 pieces), were offset by reductions
for Turkey (200 pieces), Canada (200 pieces), and Indonesia (200 pieces).  Additionally, total net sales of 42,000 kip skins were reported for Italy.  Exports of 447,900 pieces reported for 2020 were down 3 percent from the previous week, but unchanged from
the prior 4-week average.  Whole cattle hides exports were primarily to China (361,800 pieces), South Korea (40,200 pieces), Mexico (25,900 pieces), Hong Kong (6,400 pieces), and Thailand (5,000 pieces). 

Net
sales of 107,300 wet blues

for 2020 were down 9 percent from the previous week and 17 percent from the prior 4-week average.  Increases primarily for Italy (41,800 unsplit, including decreases of 200 unsplit), Thailand (28,200 unsplit, including decreases of 300 unsplit), Vietnam (10,100
unsplit and 4,000 grain splits, including decreases of 100 unsplit), China (11,900 unsplit), and Taiwan (5,100 unsplit), were offset by reductions for Mexico (100 unsplit).  For 2021, total net sales of 57,000 wet blues unsplit were reported for Italy.  Exports
of 128,100 wet blues for 2020 were down 31 percent from the previous week and 25 percent from the prior 4-week average.  The destinations were primarily to China (38,000 unsplit), Italy (28,400 unsplit and 6,000 grain splits), Vietnam (28,800 unsplit), Thailand
(17,600 unsplit), and Mexico (4,400 unsplit and 2,300 grain splits).  Net sales of 5,200 splits were for China (2,900 pounds, including decreases of 25,700 pounds) and China (2,300 pounds, including decreases of 2,000 pounds).    Exports of 689,600 pounds
were to Vietnam (560,100 pounds) and China (129,500 pounds).

Beef:
Net
sales of 13,400 MT reported for 2020 were down 35 percent from the previous week and 31 percent from the prior 4-week average.  Increases were primarily for Japan (3,900 MT, including decreases of 200 MT), Mexico (3,100 MT), South Korea (2,200 MT, including
decreases of 300 MT), Taiwan (1,000 MT, including decreases of 100 MT), and Canada (600 MT, including decreases of 100 MT).  For 2021, net sales of 400 MT were reported for Japan (200 MT), Taiwan (100 MT), and Chile (100 MT).  Exports of 16,200 MT were down
5 percent from the previous week and 1 percent from the prior 4-week average.  The destinations were primarily to Japan (4,200 MT), South Korea (3,800 MT), Hong Kong (1,500 MT), China (1,500 MT), and Mexico (1,500 MT).

Pork:
Net
sales of 26,800 MT reported for 2020 were down 56 percent from the previous week and 43 percent from the prior 4-week average.  Increases were primarily for Mexico (11,900 MT, including decreases of 800 MT), China (5,200 MT, including decreases of 1,400 MT),
Japan (4,700 MT, including decreases of 300 MT), Canada (1,100 MT, including decreases of 400 MT), and Colombia (800 MT, including decreases of 100 MT).  For 2021, net sales of 1,600 MT were primarily for Mexico (700 MT), Chile (600 MT), and Australia (300
MT).  Exports of 36,000 MT were down 2 percent from the previous week, but up 8 percent from the prior 4-week average.  The destinations were primarily to Mexico (11,700 MT), China (10,700 MT), Japan (4,600 MT), Canada (2,200 MT), and South Korea (1,800 MT).

  

 

 

U.S. EXPORT SALES FOR WEEK ENDING 10/8/2020       





























 

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    

243.0

1,533.4

1,296.9

222.0

4,096.7

3,896.0

11.2

22.0

   SRW    

30.5

317.9

590.1

26.9

876.4

1,138.4

60.0

100.0

   HRS      

85.7

1,530.0

1,302.0

223.1

2,825.8

2,472.2

0.0

5.0

   WHITE   

169.0

1,450.0

1,011.1

34.7

1,876.9

1,618.2

0.0

0.0

   DURUM  

0.3

220.6

184.5

0.0

321.6

312.4

0.0

0.0

     TOTAL

528.5

5,051.9

4,384.5

506.7

9,997.4

9,437.1

71.2

127.0

BARLEY

0.0

33.2

39.5

0.2

8.9

18.0

0.0

0.0

CORN

655.2

22,010.1

7,726.7

815.1

4,492.9

2,637.8

0.0

206.0

SORGHUM

0.0

2,541.8

223.1

0.7

393.4

43.8

0.0

136.0

SOYBEANS

2,631.3

34,217.2

13,004.1

2,384.0

9,018.0

4,848.4

0.0

60.0

SOY MEAL

152.2

3,361.9

3,237.1

227.1

257.3

379.0

0.0

18.1

SOY OIL

1.4

159.8

155.9

18.3

18.4

44.0

0.2

0.2

RICE

 

 

 

 

 

 

 

 

   L G RGH

0.2

543.6

418.6

23.7

78.8

307.9

0.0

0.0

   M S RGH

0.0

26.5

18.8

0.0

2.4

12.0

0.0

0.0

   L G BRN

0.9

11.3

11.2

2.8

9.0

3.5

0.0

0.0

   M&S BR

0.1

23.0

0.5

1.1

26.4

0.8

0.0

0.0

   L G MLD

2.1

61.2

123.5

2.5

66.7

256.9

0.0

0.0

   M S MLD

6.7

98.4

106.9

5.0

72.1

125.7

0.0

0.0

     TOTAL

10.0

764.1

679.6

35.2

255.4

706.9

0.0

0.0

COTTON

 

THOUSAND RUNNING BALES      

   UPLAND

98.9

5,728.2

7,078.8

192.6

2,505.0

2,056.8

13.2

498.9

   PIMA

17.8

232.4

121.3

12.7

115.8

81.3

0.0

0.7

 

 

Terry Reilly

Senior Commodity Analyst – Grain and Oilseeds

Futures International │190 S LaSalle St., Suite 410│Chicago, IL  60603

W: 312.604.1366

treilly@futures-int.com

ICE IM: 
treilly1

Skype: fi.treilly

 

Description: Description: Description: Description: FImail

 

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