FI Weekly USDA Export Sales Snapshot 08/20/20

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USDA export sales showed net reductions for current crop-year for soybean oil and soybeans.  New-crop soybeans were excellent at 2.57 million tons but new-crop soybean oil were zero.  Soybean meal sales were light.  Corn export sales were thin for old crop and new-crop were within expectations.  All-wheat sales were within expectations.  Pork sales were good at 20,600 tons.  Sorghum sales were 122,000 tons for new-crop.  Overall, the USDA export sales report might weigh on soybean oil futures prices and

 

 

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING 8/13/2020                        

                                                                                                                                                              FAX 202-690-3275

	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	188.2	1,642.5	1,519.6	104.0	2,367.0	2,515.5	0.0	0.0
SRW	46.7	691.1	688.3	34.0	384.9	624.0	0.0	0.0
HRS	129.7	1,877.6	1,510.9	105.0	1,430.0	1,293.5	0.0	5.0
WHITE	90.6	1,244.8	947.0	164.0	1,012.0	878.1	0.0	0.0
DURUM	67.9	254.9	296.5	0.0	209.3	148.1	0.0	0.0
TOTAL	523.0	5,710.9	4,962.3	406.9	5,403.2	5,459.3	0.0	5.0
BARLEY	0.0	31.1	46.5	0.3	8.2	10.2	0.0	0.0
CORN	61.6	3,002.5	2,172.4	1,197.0	41,218.9	47,930.9	723.3	12,203.6
SORGHUM	-4.6	289.1	85.0	48.5	4,340.0	1,639.8	122.0	1,845.1
SOYBEANS	-12.7	5,534.2	4,499.3	899.0	41,963.8	44,118.8	2,573.2	20,548.7
SOY MEAL	34.5	1,464.0	1,848.3	222.5	10,528.0	10,076.9	155.8	1,211.2
SOY OIL	-0.2	175.3	144.7	2.2	1,091.4	734.5	0.0	80.7
RICE
L G RGH	2.3	144.8	272.5	22.3	26.7	92.8	0.0	0.0
M S RGH	0.0	28.1	27.3	0.1	0.8	1.5	0.0	0.0
L G BRN	0.9	9.0	1.1	0.8	1.5	1.3	0.0	0.0
M&S BR	0.1	30.1	0.1	0.8	1.7	0.2	0.0	0.0
L G MLD	18.7	54.8	190.5	2.7	6.0	84.0	0.0	0.0
M S MLD	3.2	54.4	97.5	14.6	19.1	33.4	0.0	0.0
TOTAL	25.2	321.2	589.0	41.2	55.8	213.2	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	128.0	5,995.0	7,247.8	421.5	700.1	690.9	4.9	321.1
PIMA	16.7	181.2	125.6	8.5	14.1	23.1	0.0	0.0

 

 

Export Sales Highlights

This summary is based on reports from exporters for the period August 7-13, 2020.

Wheat:  Net sales of 523,000 metric tons (MT) for 2020/2021 were up 42 percent from the previous week, but down 8 percent from the prior 4-week average.  Increases primarily for the Philippines (182,900 MT), Brazil (90,000 MT), unknown destinations (86,000 MT), Mexico (79,500 MT, including decreases of 11,000 MT), and Italy (65,800 MT, including 10,000 MT switched from unknown destinations and decreases of 100 MT), were offset by reductions for Indonesia (20,000 MT).  Exports of 406,900 MT were down 13 percent from the previous week and 23 percent from the prior 4-week average.  The destinations were primarily to Japan (133,000 MT), Mexico (97,900 MT), Sri Lanka (65,500 MT), Yemen (47,200 MT), and South Korea (28,000 MT). 

Corn:  Net sales of 61,600 MT for 2019/2020 were down 84 percent from the previous week and 63 percent from the prior 4-week average.  Increases primarily for Japan (70,200 MT, including 64,900 MT switched from unknown destinations), Colombia (52,300 MT, including 50,000 MT switched from unknown destinations and decreases of 8,400 MT), Guatemala (26,800 MT, including 32,000 MT switched from El Salvador and decreases of 4,800 MT), Mexico (10,600 MT, including decreases of 3,400 MT), and China (8,600 MT), were offset by reductions for unknown destinations (87,600 MT), El Salvador (29,200 MT), and Peru (8,000 MT).  For 2020/2021, net sales of 723,300 MT were primarily for unknown destinations (365,100 MT), Mexico (94,800 MT), South Korea (66,200 MT), Japan (55,500 MT), and Taiwan (41,300 MT).  Exports of 1,197,000 MT were down 10 percent from the previous week, but up 19 percent from the prior 4-week average.  The destinations were primarily to China (382,400 MT), Mexico (297,800 MT), Japan (210,000 MT), Colombia (112,000 MT), and Guatemala (98,700 MT). 

Optional Origin Sales:  For 2019/2020, 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).

Barley:  No net sales for 2020/2021 were reported for the week.  Exports of 300 MT were down 93 percent from the previous week and 77 percent from the prior 4-week average.  The destination was Taiwan.

Sorghum:  Net sales reductions of 4,600 MT for 2019/2020 were down noticeably from the previous week and from the prior 4-week average.  Increases reported for China (48,400 MT, including 48,500 MT switched from unknown destinations and decreases of 100 MT), were more than offset by reductions for unknown destinations (53,000 MT).  For 2020/2021, net sales of 122,000 MT were reported for unknown destinations (68,000 MT) and China (54,000 MT).  Exports of 48,500 MT were down 90 percent from the previous week and 77 percent from the prior 4-week average.  The destination was China.

Rice:  Net sales of 25,200 MT for 2020/2021 were primarily for Haiti (15,300 MT), Mexico (5,000 MT), Canada (1,900 MT, including decreases of 300 MT), Saudi Arabia (1,800 MT), and South Korea (400 MT).  Exports of 41,200 MT were primarily to Mexico (23,300 MT), Japan (12,000 MT), Canada (1,700 MT), Saudi Arabia (900 MT), and Taiwan (900 MT).

Soybeans:  Net sales reductions of 12,700 MT for 2019/2020–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average.  Increases primarily for the Netherlands (137,000 MT, including 132,000 MT switched from unknown destinations and decreases of 3,200 MT), Indonesia (88,800 MT, including 49,800 MT switched from unknown destinations and decreases of 600 MT), Spain (40,000 MT, switched from unknown destinations), Japan (38,700 MT, including 36,200 MT switched from unknown destinations and decreases of 200 MT), and France (23,000 MT, including 25,000 MT switched from unknown destinations and decreases of 2,000 MT), were offset by reductions for unknown destinations (342,800 MT) and China (32,800 MT).  For 2020/2021, net sales of 2,573,200 MT were primarily for China (1,654,000 MT), unknown destinations (701,000 MT), Pakistan (66,000 MT), Bangladesh (55,000 MT), and Taiwan (24,000 MT).  Exports of 899,000 MT were down 19 percent from the previous week, but up 22 percent from the prior 4-week average.  The destinations were primarily to China (411,500 MT), the Netherlands (137,000 MT), Mexico (80,000 MT), Indonesia (77,600 MT), and Japan (41,600 MT)

Exports for Own Account:  For 2019/2020, the current exports for own account outstanding balance is 61,600 MT, all Canada.

Soybean Cake and Meal:  Net sales of 34,500 MT for 2019/2020–a marketing-year low– were down 81 percent from the previous week and 77 percent from the prior 4-week average.  Increases primarily for Canada (19,400 MT, including decreases of 200 MT), the Philippines (6,900 MT), Honduras (3,100 MT, including decreases of 100 MT), Taiwan (3,000 MT), and Sri Lanka (2,100 MT), were offset by reductions for Colombia (6,000 MT) and Israel (1,000 MT).  For 2020/2021, net sales of 155,800 MT were primarily for Mexico (54,000 MT), unknown destinations (33,000 MT), Canada (20,000 MT), Morocco (15,000 MT), and Honduras (14,400 MT).  Exports of 222,500 MT were up 13 percent from the previous week and 9 percent from the prior 4-week average.  The destinations were primarily to the Philippines (95,800 MT), Colombia (38,000 MT), Israel (26,400 MT), Canada (23,000 MT), and Mexico (20,000 MT). 

Soybean Oil:  Net sales reductions of 200 MT for 2019/2020 resulting in increases for Canada (600 MT, including decreases of 800 MT), Mexico (200 MT), and Belgium (100 MT), were more than offset by reductions for unknown destinations (1,000 MT).  Exports of 2,200 MT were down 82 percent from the previous week and 92 percent from the prior 4-week average.  The destinations were primarily to Canada (1,700 MT), Mexico (400 MT), and Belgium (100 MT).

Cotton:  Net sales of 128,000 RB for 2020/2021 primarily for China (56,800 RB), Vietnam (24,800 RB, including 3,300 RB switched from South Korea), Bangladesh (22,000 RB), Pakistan (14,800 RB, including decreases of 2,400 RB), and Mexico (11,700 RB), were offset by reductions primarily for Indonesia (3,500 RB), South Korea (3,300 RB), and Honduras (1,400 RB).  For 2021/2022, net sales of 4,900 RB resulting in increases for Indonesia (9,300 RB), were offset by reductions for Malaysia (4,400 RB).  Exports of 421,500 RB were primarily to China (192,000 RB, including 12,900 RB late – see below), Vietnam (82,100 RB, including 9,900 RB late – see below), Turkey (44,800 RB, including 17,000 late – see below), Pakistan (26,800 RB), and Indonesia (19,200 RB, including 4,100 RB late – see below).  Net sales of Pima totaling 16,700 RB were primarily for India (8,100 RB), China (2,600 RB), Pakistan (1,800 RB), Turkey (1,600 RB), and Bahrain (900 RB).  Exports of 8,500 RB were primarily to India (3,100 RB), China (2,300 RB), Pakistan (1,600 RB), Italy (400 RB), and Bangladesh (300 RB). 

Exports for Own account:  For 2020/2021, new exports for own account totaling 7,400 RB were to China (3,600 RB), Vietnam (3,000 RB), and Malaysia (800 RB).  Exports for own account totaling 9,300 RB to China (8,400 RB) and Vietnam (900 RB) were applied to new or outstanding sales.  The current exports for own account outstanding balance of 30,600 RB is for China (19,400 RB), Indonesia (3,900 RB), Malaysia (3,300 RB), Vietnam (3,000 RB), and Bangladesh (1,000 RB). 

Late Reporting:  For 2020/2021, exports totaling 47,900 RB were reported late.  The destinations were to Turkey (17,000 RB), China (12,900 RB), Vietnam (9,900 RB), Indonesia (4,100 RB), Egypt (1,100 RB), Mexico (900 RB), Thailand (900 RB), Honduras (500 RB), Bangladesh (500 RB), and South Korea (100 RB). 

Hides and Skins: Net sales of 640,300 pieces for 2020 were up 49 percent from the previous week and 57 percent from the prior 4-week average.  Increases primarily for China (545,100 whole cattle hides, including decreases of 16,200 pieces), South Korea (37,300 whole cattle hides, including decreases of 4,500 pieces), Mexico (30,800 whole cattle hides, including decreases of 700 pieces), Cambodia (12,000 whole cattle hides), and Taiwan (8,700 whole cattle hides), were offset by reductions for Indonesia (100 whole cattle hides) and Japan (100 pieces).  Additionally, net sales reductions of 400 kip skins were reported for Belgium.  Exports of 478,800 pieces reported for 2020 were up 2 percent from the previous week and from the prior 4-week average.  Whole cattle hides exports were primarily to China (383,200 pieces), Mexico (38,500 pieces), South Korea (25,200 pieces), Brazil (7,400 pieces), and Vietnam (3,900 pieces).  In addition, exports of calf skins were to Italy (10,400 calf skins) and kip skins to Belgium (3,800 kip skins).

Net sales of 258,700 wet blues for 2020 were up 92 percent from the previous week and up noticeably from the prior 4-week average.  Increases were primarily for Thailand (68,100 unsplit), China (67,300 unsplit , including decreases of 1,100 unsplit), Vietnam (51,700 unsplit), Italy (43,900 unsplit, including decreases of 100 unsplit), and India (14,900 unsplit).  Exports of 98,000 wet blues for 2020 were up 2 percent from the previous week, but down 8 percent from the prior 4-week average.  The destinations were primarily to China (40,000 unsplit), Italy (26,700 unsplit and 4,500 grain splits), Thailand (7,800 unsplit), Mexico (3,800 grain splits and 2,600 MT unsplit), and Brazil (3,800 grain splits).  Net sales of 37,700 splits reported for China (38,100 pounds, including decreases of 3,200 pounds), were offset by reductions for Vietnam (500 pounds).  Exports of 321,000 pounds were to Vietnam (280,000 pounds) and China (41,000 pounds).

Beef: Net sales of 20,000 MT reported for 2020 were up 69 percent from the previous week and 13 percent from the prior 4-week average.  Increases primarily for South Korea (8,700 MT, including decreases of 400 MT), Japan (4,800 MT, including decreases of 300 MT), Taiwan (1,800 MT, including decreases of 100 MT), Mexico (1,600 MT, including decreases of 100 MT), and Hong Kong (1,100 MT, including decreases of 200 MT), were offset by reductions primarily for China (500 MT) and Colombia (100 MT).  For 2021, net sales of 500 MT were primarily for Canada (400 MT).  Exports of 18,300 MT were up 9 percent from the previous week and 8 percent from the prior 4-week average.  The destinations were primarily to Japan (5,800 MT, including 800 MT late – see below), South Korea (5,400 MT), Taiwan (1,800 MT), Canada (1,200 MT), and Mexico (1,100 MT).

 

Late Reporting:  For 2020, exports totaling 800 MT were reported late.  The destination was Japan.

 

Pork: Net sales of 20,600 MT reported for 2020 were up 97 percent from the previous week, but down 27 percent from the prior 4-week average.  Increases primarily for Mexico (7,800 MT, including decreases of 300 MT), China (6,500 MT, including decreases of 6,700 MT), Japan (2,400 MT, including decreases of 300 MT), Canada (1,900 MT, including decreases of 400 MT), and South Korea (900 MT, including decreases of 1,000 MT), were offset by reductions primarily for Australia (800 MT) and New Zealand (300 MT).  For 2021, total net sales of 100 MT were for Australia.  Exports of 31,800 MT were down 9 percent from the previous week and 7 percent from the prior 4-week average.  The destinations were primarily to Mexico (9,900 MT), China (9,500 MT), Japan (4,200 MT), Canada (2,300 MT), and South Korea (1,400 MT).