PDF attached

 

 

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.

 

 

 

 

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. 

 

 

 

 

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

AIM: fi_treilly

ICE IM:  treilly1

Skype: fi.treilly

 

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