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USDA export sales exceeded expectations for old crop soybeans and new-crop topped 2.8 million tons, well above expectations.  Soybean meal export sales were within expectations.  Soybean oil was negative 2,500 tons for old crop but new-crop was very good at 48,300 tons.  Corn export sales were within expectations.  All-wheat of nearly 368,000 tons were ok.  Sorghum export sales were excellent at 282,400 tons an included a large portion for China.  New-crop-sorghum were a whopping 527,500 tons including 348,000 tons for China.  Pork sales were 10,500 tons. 

 

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING 8/6/2020                        

 

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

WHEAT

THOUSAND METRIC TONS      

   HRW    

24.1

1,558.3

1,406.6

192.9

2,263.0

2,385.9

0.0

0.0

   SRW    

14.0

678.3

696.4

39.7

351.0

535.5

0.0

0.0

   HRS     

170.7

1,853.0

1,578.6

169.7

1,325.0

1,040.0

0.0

5.0

   WHITE   

147.6

1,318.2

1,011.2

44.2

848.0

747.8

0.0

0.0

   DURUM  

11.5

187.0

334.4

21.5

209.3

90.6

0.0

0.0

     TOTAL

367.9

5,594.9

5,027.3

468.0

4,996.3

4,799.8

0.0

5.0

BARLEY

0.0

31.4

47.2

5.1

7.8

9.5

0.0

0.0

CORN

377.2

4,137.9

2,592.8

1,333.1

40,021.9

47,391.2

553.1

11,480.3

SORGHUM

282.4

342.2

138.4

479.2

4,291.5

1,589.2

527.5

1,723.1

SOYBEANS

570.1

6,445.9

5,647.9

1,103.9

41,064.8

42,944.3

2,839.4

17,975.5

SOY MEAL

182.4

1,652.0

1,831.8

196.5

10,305.5

9,974.8

70.0

1,055.4

SOY OIL

-2.5

177.7

155.6

11.9

1,089.2

721.4

48.7

80.7

RICE

 

 

 

 

 

 

 

 

   L G RGH

0.3

164.8

259.5

4.4

4.4

50.5

0.0

0.0

   M S RGH

0.0

28.2

27.7

0.7

0.7

1.1

0.0

0.0

   L G BRN

0.0

8.9

1.6

0.7

0.7

0.6

0.0

0.0

   M&S BR

0.1

30.9

0.1

0.9

0.9

0.1

0.0

0.0

   L G MLD

4.6

38.7

230.4

3.4

3.4

34.3

0.0

0.0

   M S MLD

1.3

65.9

99.5

4.5

4.5

27.8

0.0

0.0

     TOTAL

6.3

337.2

618.8

14.7

14.7

114.4

0.0

0.0

COTTON

 

THOUSAND RUNNING BALES      

 

   UPLAND

6.9

6,288.5

7,427.8

278.6

278.6

346.9

8.8

316.2

   PIMA

10.4

172.9

139.1

5.6

5.6

14.7

0.0

0.0

 

FINAL 2019/20 MARKETING YEAR

COMMODITY

NET SALES

CARRYOVER

SALES 1/

07/31/2020

EXPORTS

ACCUMULATED

EXPORTS

   PIMA

-0.4

116.4

3.7

486.6

COTTON

 

 

 

 

   UPLAND

1.4

2,883.2

43.6

14,174.5

RICE

 

 

 

 

   L G RGH

0.0

93.3

0.0

1,329.4

   M S RGH

0.0

23.2

0.0

73.2

   L G BRN

0.1

9.6

0.1

59.5

   M&S BR

0.0

31.7

0.0

87.7

   L G MLD

2.1

36.1

2.3

900.2

   M S MLD

3.5

65.3

3.5

686.5

     TOTAL

5.7

259.1

5.9

3,136.5

                                                                                                                                 

 Export Sales Highlights

This summary is based on reports from exporters for the period July 31-August 6, 2020.

Wheat:  Net sales of 367,900 metric tons (MT) for 2020/2021 were down 39 percent from the previous week and 45 percent from the prior 4-week average.  Increases primarily for South Korea (117,900 MT), Japan (68,600 MT), the Philippines (66,800 MT), Brazil (63,300 MT, including 60,000 MT switched from unknown destinations), and Italy (33,600 MT), were offset by reductions primarily for unknown destinations (52,400 MT).  Exports of 468,000 MT were down 22 percent from the previous week and 18 percent from the prior 4-week average.  The destinations were primarily to the Philippines (90,800 MT), Japan (86,000 MT), China (63,000 MT), Nigeria (49,900 MT), and Mexico (42,500 MT). 

Corn:  Net sales of 377,200 MT for 2019/2020 were up noticeably from the previous week and up 18 percent from the prior 4-week average.  Increases primarily for South Korea (125,000 MT, including 55,000 MT switched from unknown destinations and decreases of 200 MT), Japan (79,300 MT, including decreases of 4,600 MT), China (76,500 MT), Colombia (60,700 MT, including 42,000 MT switched from unknown destinations, decreases of 2,700 MT, and 13,800 MT late – see below), and Venezuela (59,100 MT, including 29,100 MT late – see below), were offset by reductions primarily for unknown destinations (97,000 MT) and Nicaragua (9,000 MT). For 2020/2021, net sales of 553,100 MT primarily for Colombia (176,500 MT), Mexico (165,200 MT), unknown destinations (129,700 MT), Peru (50,000 MT), and Taiwan (10,600 MT), were offset by reductions for Guatemala (1,500 MT).  Exports of 1,333,100 MT were up 95 percent from the previous week and 43 percent from the prior 4-week average.  The destinations were primarily to China (396,600 MT), Mexico (225,800 MT), Colombia (167,300 MT, including 13,800 MT late – see below), Japan (163,900 MT, including 28,200 MT late – see below), and South Korea (125,100 MT). 

Optional Origin Sales:  For 2019/2020, options were exercised to export 65,000 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 260,000 MT is for Vietnam (195,000 MT) and South Korea (65,000 MT).

Late Reporting:  For 2019/2020, net sales totaling 42,900 MT were reported late.  These sales were reported for Venezuela (29,100 MT) and Colombia (13,800 MT).  For 2019/2020, exports totaling 71,100 MT were reported late.  The destinations were to Venezuela (29,100 MT), Japan (28,200 MT), and Colombia (13,800 MT).

Barley:  No net sales for 2020/2021 were reported for the week.  Exports of 5,100 MT–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average.  The destination was Japan.

Sorghum:  Net sales of 282,400 MT for 2019/2020 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for China (348,300 MT, including 66,000 MT switched from unknown destinations, decreases of 65,000 MT, and 336,300 MT late – see below), were offset by reductions for unknown destinations (66,000 MT).  For 2020/2021, net sales of 527,500 MT were reported for China (348,000 MT) and unknown destinations (179,500 MT).  Exports of 479,200 MT–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average.  The destination was China (including 407,800 MT late – see below).

Late Reporting:  For 2019/2020, net sales totaling 336,300 MT were reported late.  These sales were reported for China.  For 2019/2020, exports to China (407,800 MT) were reported late.

Rice:  Net sales of 6,300 MT were reported for 2020/2021, which began August 1.  Increases primarily for Mexico (2,300 MT), Saudi Arabia (1,600 MT), Canada (1,600 MT, including decreases of 200 MT), Israel (600 MT), and Singapore (200 MT), were offset by reductions primarily for the Dominican Republic (200 MT) and the Netherlands (100 MT).  A total of 259,100 MT in sales were outstanding on July 31, and carried over to 2020/2021.  Accumulated exports in 2019/2020 totaled 3,136,500 MT were up 2 percent from the prior year’s total of 3,078,300 MT.  Exports for 2019/2020 totaled 5,900 MT and were primarily to Saudi Arabia (2,600 MT), Israel (1,400 MT), Qatar (700 MT), Canada (600 MT), and Mexico (300 MT). 

Soybeans:  Net sales of 570,100 MT for 2019/2020 were up 65 percent from the previous week and 96 percent from the prior 4-week average.  Increases primarily for China (420,500 MT, including decreases of 2,000 MT, and 354,800 MT late – see below), the Netherlands (144,300 MT, including 137,000 MT switched from unknown destinations and decreases of 1,600 MT), Japan (64,500 MT, including decreases of 1,400 MT), Egypt (49,600 MT, including 52,000 MT switched from unknown destinations and decreases of 2,400 MT), and Taiwan (20,300 MT), were offset by reductions primarily for unknown destinations (191,000 MT).  For 2020/2021, net sales of 2,839,400 MT were primarily for China (1,705,000 MT), unknown destinations (872,500 MT), Mexico (74,800 MT), Portugal (49,000 MT), and Taiwan (43,000 MT).  Exports of 1,103,900 MT were up 36 percent from the previous week and 83 percent from the prior 4-week average.  The destinations were primarily to China (630,400 MT, including 354,800 late – see below), the Netherlands (144,300 MT), Mexico (123,200 MT), Egypt (49,600 MT), and Japan (38,700 MT, including 10,100 MT late – see below). 

Exports for Own Account:  For 2019/2020, new exports for own account were for Canada (59,500 MT).  The current exports for own account outstanding balance is 61,600 MT, all Canada.

Late Reporting:  For 2019/2020, net sales totaling 355,800 MT were reported late.  These sales were reported for China (354,800 MT) and the Philippines (1,000 MT).  For 2019/2020, exports totaling 365,300 MT were reported late.  The destinations were to China (354,800 MT), Japan (10,100 MT), and the Philippines (400 MT).

Soybean Cake and MealNet sales of 182,400 MT for 2019/2020 were up 75 percent from the previous week and 24 percent from the prior 4-week average.  Increases primarily for Canada (95,700 MT), Mexico (24,600 MT, including decreases of 100 MT), Colombia (16,000 MT, including decreases of 3,000 MT), Peru (12,000 MT), and Indonesia (11,200 MT), were offset by reductions for Guatemala (4,900 MT), Costa Rica (1,900 MT), Belgium (1,700 MT), Jamaica (1,100 MT), and El Salvador (900 MT).  For 2020/2021, net sales of 70,000 MT primarily for El Salvador (18,000 MT), Colombia (18,000 MT), Mexico (15,900 MT), Canada (6,200 MT), and Panama (6,000 MT), were offset by reductions for the Philippines (2,200 MT).  Exports of 196,500 MT were down 15 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily to Japan (35,700 MT), Canada (35,600 MT), Mexico (34,700 MT), the Dominican Republic (24,500 MT), and Panama (16,400 MT).

Late Reporting:  For 2019/2020, net sales totaling 400 MT were reported late.  These sales were reported for the Philippines.  For 2019/2020, exports totaling 800 MT were reported late.  The destination was the Philippines.

Soybean Oil:  Net sales reductions of 2,500 MT for 2019/2020–a marketing-year low–reported for the Dominican Republic (7,100 MT), Mexico (2,200 MT), and Canada (200 MT), were more than offset by reductions for Guatemala (12,000 MT).  For 2020/2021, net sales of 48,700 MT were for South Korea (28,000 MT), Guatemala (18,000 MT), and Canada (2,700 MT).  Exports of 11,900 MT were down 75 percent from the previous week and 52 percent from the prior 4-week average.  The destinations were primarily to Guatemala (9,700 MT), Mexico (1,800 MT), and Canada (400 MT).

Cotton:  Net sales for 2020/2021, which began August 1, totaled 6,900 RB.  Increases reported for Pakistan (10,100 RB, including decreases of 300 RB), Indonesia (7,500 RB, including 6,600 RB switched from the Philippines, 100 RB switched from Japan, and decreases of 100 RB), Vietnam (6,200 RB, including 1,300 RB switched from South Korea), Turkey (5,900 RB), and Japan (3,400 RB), were offset by reductions primarily for China (21,500 RB), the Philippines (6,600 RB), and El Salvador (1,200 RB).  A total of 2,883,200 RB in sales were carried over from the 2019/2020 marketing year, which ended July 31.  Exports for the period ending July 31 of 43,600 RB brought accumulated exports to 14,174,500 RB, up 8 percent from the prior years’ total of 13,158,900 RB.  The destinations were primarily China (19,500 RB), Vietnam (13,800 RB), Bangladesh (2,300 RB), Peru (1,400 RB), and Thailand (1,300 RB).  Exports for August 1 – 6 totaled 278,600 RB, with China (157,100 RB), Vietnam (56,300 RB), Turkey (13,700 RB), Pakistan (11,700 RB), and Bangladesh (9,600 RB) being the primary destinations.  Net sales of Pima for 2020/2021totaled 10,400 RB.  Increases were primarily for China (6,200 RB), Bangladesh (1,700 RB), India (900 RB), Vietnam (900 RB), and Pakistan (600 RB).  A total of 116,400 RB in sales were carried over from the 2019/2020 marketing year, which ended July 31.  Exports for the period ending July 31 of 3,700 RB brought accumulated exports to 486,600 RB, down 25 percent from the prior years’ total of 644,800 RB.  The destinations were primarily Pakistan (1,400 RB), Vietnam (900 RB), India (700 RB), China (400 RB), and Greece (200 RB).  Exports for August 1 – 6 totaled 5,600 RB, with China (2,500 RB), Peru (1,200 RB), Vietnam (900 RB), Pakistan (900 RB) and Turkey (200 RB) being the primary destinations.     

Exports for Own Account:  For 2019/2020, decreases were reported for 2,300 RB China.  For 2020/2021 exports for own account total of 17,300 RB were carried over from the 2019/2020 marketing year, which ended July 31.  Exports for own account totaling 4,000 RB to Vietnam (2,600 RB) and Bangladesh (1,400 MT) were applied to new or outstanding sales.  For 2020/2021, the outstanding balance of 32,700 RB including carryover is for China (24,300 RB), Indonesia (3,900 RB), Malaysia (2,600 RB), Bangladesh (1,000 RB), and Vietnam (900 RB). 

Hides and Skins: Net sales of 429,700 pieces for 2020 were up 30 percent from the previous week, but down 4 percent from the prior 4-week average.  Increases primarily for China (362,300 whole cattle hides, including decreases of 14,200 pieces), Mexico (41,100 whole cattle hides, including decreases of 1,000 pieces), South Korea (17,400 whole cattle hides, including decreases of  500 pieces), Spain (4,500 whole cattle hides), and Hong Kong (700 whole cattle hides), were offset by reductions primarily for Thailand (4,200 whole cattle hides), Taiwan (2,000 whole cattle hides), and Brazil (600 whole cattle hides).  Additionally, net sales of 10,400 calf skins reported for Italy, were offset by reductions for Belgium (300 kip skins).  Exports of 471,600 pieces reported for 2020 were down 2 percent from the previous week, but up 1 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (368,600 pieces), Mexico (43,000 pieces), South Korea (40,900 pieces), Indonesia (3,200 pieces), and Thailand (3,000 pieces).  In addition, exports of 2,500 kip skins were to Mexico (1,300 kip skins) and Belgium (1,200 kip skins).

Net sales of 134,900 wet blues for 2020 were up 67 percent from the previous week and 40 percent from the prior 4-week average.  Increases primarily for China (61,600 unsplit and 4,500 grain splits), Thailand (26,600 unsplit, including decreases of 200 unsplit), Vietnam (25,800 unsplit), Italy (13,200 unsplit, including decreases of 300 unsplit), and Mexico (3,300 unsplit, including decreases of 100 unsplit), were offset by reductions for Mexico (900 grain splits).  Exports of 96,600 wet blues for 2020 were down 35 percent from the previous week and 6 percent from the prior 4-week average.  The destinations were primarily to China (41,700 unsplit), Italy (34,800 unsplit and 3,700 grain splits), Thailand (6,200 unsplit), Mexico (3,100 grain splits and 2,600 MT unsplit), and the Dominican Republic (2,400 unsplit).  Total net sales of 156,200 splits were for Vietnam.  Exports of 280,000 pounds were to Vietnam.

Beef: Net sales of 11,600 MT reported for 2020 were down 13 percent from the previous week and 46 percent from the prior 4-week average.  Increases primarily for Japan (2,900 MT, including decreases of 500 MT), China (1,900 MT), Canada (1,400 MT, including decreases of 100 MT), Hong Kong (1,300 MT, including decreases of 100 MT), and South Korea (1,200 MT, including decreases of 600 MT).  Exports of 16,800 MT were down 4 percent from the previous week, but up 1 percent from the prior 4-week average.  The destinations were primarily to South Korea (5,500 MT), Japan (4,800 MT), Taiwan (1,500 MT), Mexico (1,100 MT), and Hong Kong (1,000 MT).

Pork: Net sales of 10,500 MT reported for 2020 were down 66 percent from the previous week and 70 percent from the prior 4-week average.  Increases primarily for Mexico (8,800 MT, including decreases of 200 MT), Japan (2,700 MT, including decreases of 900 MT), Canada (1,600 MT, including decreases of 400 MT), Australia (1,100 MT), and Chile (1,000 MT), were offset by reductions primarily for China (8,800 MT).  For 2021, total net sales of 100 MT were for Australia.  Exports of 34,900 MT were up 2 percent from the previous week and 7 percent from the prior 4-week average.  The destinations were primarily to Mexico (11,000 MT), China (9,900 MT), Japan (4,000 MT), Canada (2,300 MT), and South Korea (1,300 MT).

August 13, 2020                                               1                FOREIGN AGRICULTURAL SERVICE/USDA

                                                                                                SUMMARY OF EXPORT TRANSACTIONS
                                                                                 REPORTED UNDER THE DAILY SALES REPORTING SYSTEM
                                                   
                                            FOR PERIOD ENDING AUGUST 6, 2020 

 

COMMODITY                        DESTINATION                                QUANITY (MT)                            MARKETING YEAR                     
SOYBEANS                             CHINA                                               1,170,000 MT 1/                           2020/2021
SOYBEANS                             UNKNOWN                                              8,000 MT 1/                           2019/2020
SOYBEANS                             UNKNOWN                                          363,000 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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