PDF attached

 

USDA export sales proved to be robust again for soybeans, corn and new-crop meal.  Soybean oil shipment were good.  All-wheat sales slightly topped expectations.  The report was seen supportive all around. 

 

 

 

Export Sales Highlights

This summary is based on reports from exporters for the period September 18-24, 2020.

 

·         Wheat:  Net sales of 506,300 metric tons (MT) for 2020/2021 were up 44 percent from the previous week and 15 percent from the prior 4-week average.  Increases primarily for Mexico (208,900, including decreases of 200 MT), Taiwan (91,500 MT), South Korea (64,100 MT, including decreases of 1,000 MT), unknown destinations (60,000 MT), and Japan (58,400 MT), were offset by reductions primarily for the United Arab Emirates (5,400 MT), Spain (4,000 MT), and Venezuela (3,000 MT).  For 2021/2022, total net sales of 1,300 MT were for Malaysia.  Exports of 646,100 MT were up 38 percent from the previous week and 15 percent from the prior 4-week average.  The destinations were primarily to China (186,800 MT), Chile (101,300 MT), Mexico (99,700 MT), the Philippines (72,700 MT), and Italy (30,200 MT, including 20,700 MT late – see below).  Late Reporting:  For 2020/2021, exports totaling 20,700 MT were reported late.  The destination was Italy.

  • Corn:  Net sales of 2,027,100 MT for 2020/2021 primarily for unknown destinations (701,300 MT), Mexico (441,200 MT, including decreases of 2,500 MT), Japan (381,600 MT, including 38,200 MT switched from unknown destinations and decreases of 36,400 MT), Guatemala (166,700 MT, including decreases of 4,400 MT), and China (149,900 MT), were offset by reductions for Peru (8,000 MT) and Costa Rica (4,000 MT).  Exports of 750,200 MT were primarily to China (269,900 MT), Mexico (230,100 MT), Japan (139,800 MT), South Korea (65,100 MT), and Canada (21,800 MT).  Optional Origin Sales:  For 2020/2021, new optional origin sales of 118,600 MT were for Argentina (65,000 MT) and unknown destinations (53,600 MT).  Options were exercised to export 65,000 MT to South Korea from other than the United States.  The current outstanding balance of 739,800 MT is for Vietnam (260,000 MT), Taiwan (204,200 MT), Argentina (127,000 MT), South Korea (65,000 MT), and Ukraine (30,000 MT).
  • Barley:  No net sales or exports were reported for the week.
  • Sorghum:  Net sales of 38,800 MT for 2020/2021 resulted in increases primarily for unknown destinations (35,600 MT) and China (3,200 MT).  For 2021/2022, total net sales of 136,000 MT were for unknown destinations.  Exports of 58,200 MT were to China.
  • Rice:  Net sales of 127,100 MT for 2020/2021–marketing-year high– were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for Brazil (71,100 MT), South Korea (17,000 MT), Japan (13,000 MT), Honduras (11,600 MT), and Guatemala (9,400 MT), were offset by reductions for Panama (3,300 MT) and Colombia (300 MT).  Exports of 10,700 MT–marketing-year low–were down 61 percent from the previous week and 52 percent from the prior 4-week average.  The destinations were to Canada (3,500 MT), Mexico (2,900 MT), Saudi Arabia (1,800 MT), Australia (400 MT), and the United Arab Emirates (400 MT).   Exports for Own Account:  For 2020/2021, exports for own account totaling 100 MT to Canada were applied to new or outstanding sales. 
  • Soybeans:  Net sales of 2,591,200 MT for 2020/2021 primarily for China (1,328,700 MT, including 197,000 MT switched from unknown destinations and decreases of 8,100 MT), unknown destinations (630,300 MT), Mexico (198,700 MT, including decreases of 800 MT), Pakistan (132,000 MT), and Vietnam (78,900 MT, including decreases of 100 MT), were offset by reductions primarily for Japan (1,700 MT).  Exports of 1,139,600 MT were primarily to China (893,900 MT), Mexico (66,600 MT), Spain (60,600 MT), Indonesia (27,400 MT), and Taiwan (20,800 MT).    Optional Origin Sales:  For 2020/2021, new optional origin sales of 63,000 MT were for China.  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.
  • Soybean Cake and Meal:  Net sales of 13,600 MT for 2019/2020 were down 53 percent from the previous week and 15 percent from the prior 4-week average.  Increases primarily for Vietnam (7,000 MT), Burma (5,700 MT), Malaysia (2,000 MT), Canada (1,700 MT, including decreases of 800 MT), and Colombia (1,500 MT), were offset by reductions primarily for Mexico (4,900 MT), unknown destinations (800 MT), and the Philippines (200 MT).  For 2020/2021, net sales of 523,100 MT primarily for Colombia (110,600 MT), unknown destinations (100,800 MT), Spain (60,000 MT), Denmark (45,000 MT), and the Philippines (44,000 MT), were offset by reductions primarily for Burma (2,000 MT).  Exports of 135,800 MT were down 2 percent from the previous week and 23 percent from the prior 4-week average.  The destinations were to the Philippines (52,900 MT), Mexico (21,500 MT), Colombia (20,000 MT), Canada (19,500 MT), and Jamaica (6,400 MT).
  • Soybean Oil:  Net sales of 6,300 MT for 2019/2020 were up 43 percent from the previous week and 87 percent from the prior 4-week average.  Increases primarily for South Korea (8,600 MT, switched from China), the Dominican Republic (3,200 MT), Canada (1,900 MT), Mexico (1,100 MT), and Belgium (100 MT), were offset by reductions primarily for China (8,600 MT).  For 2020/2021, net sales of 600 MT were for South Korea (400 MT) and Venezuela (200 MT).  Exports of 31,000 MT were up noticeably from the previous week and from the prior 4-week average.  The destinations were primarily to South Korea (28,000 MT), Mexico (1,500 MT), Canada (1,400 MT), and Belgium (100 MT). 
  • Cotton:  Net sales of 233,800 RB for 2020/2021 were up noticeably from the previous week and up 7 percent from the prior 4-week average.  Increases were primarily for Turkey (62,500 RB), China (55,700 RB), Vietnam (41,100 RB), Mexico (24,300 RB), and Indonesia (13,400 RB, including decreases of 4,300 RB).  For 2021/2022, net sales of 20,600 RB were for Mexico (16,300 RB) and Indonesia (4,300 RB).  Exports of 218,200 RB were down 23 percent from the previous week and 10 percent from the prior 4-week average.  Exports were primarily to China (105,400 RB), Vietnam (49,400 RB), Indonesia (14,700 RB), Mexico (14,300 RB), and Pakistan (8,800 RB).  Net sales of Pima totaling 19,500 RB were up 5 percent from the previous week, but down 4 percent from the prior 4-week average.  Increases were primarily for India (7,700 RB, including decreases of 100 RB), China (3,900 RB), Bangladesh (2,200 RB), Peru (2,200 RB), and Hong Kong (1,500 RB).  Exports of 10,800 RB were down 17 percent from the previous week and 18 percent from the prior 4-week average.  The primary destinations were India (3,600 RB), China (3,200 RB), El Salvador (1,800 RB), Pakistan (900 RB), and Turkey (700 RB).  Exports for Own account:  For 2020/2021, exports for own account totaling 600 RB to China were applied to new or outstanding sales.  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 284,500 pieces for 2020 were down 47 percent from the previous week and 31 percent from the prior 4-week average.  Increases primarily for China (175,700 whole cattle hides, including decreases of 14,300 pieces), South Korea (44,500 whole cattle hides, including decreases of 1,100 pieces), Turkey (35,000 whole cattle hides), Mexico (18,800 whole cattle hides, including decreases of 800 pieces), and Hong Kong (3,200 whole cattle hides), were offset by reductions for Indonesia (300 pieces) and Vietnam (100 pieces).  Additionally, total net sales of 2,600 kip skins were reported for China.  Exports of 456,200 pieces reported for 2020 were down 1 percent from the previous week, but up 12 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (347,300 pieces), South Korea (58,000 pieces), Mexico (27,900 pieces), Indonesia (5,600 pieces), and Taiwan (4,500 pieces). 

·         Net sales of 150,300 wet blues for 2020 were down 34 percent from the previous week, but up 11 percent from the prior 4-week average.  Increases were primarily for Italy (27,000 grain splits and 18,700 unsplit, including decreases of 300 unsplit and 200 grain splits), China (32,400 unsplit),  Vietnam (25,700 unsplit), Taiwan (19,200 unsplit and 1,700 grain splits), and Thailand (17,000 unsplit, including decreases of 900 unsplit).  For 2021, total net sales of 1,300 wet blues unsplit were reported for Italy.  Exports of 169,500 wet blues for 2020 were down 10 percent from the previous week, but up 31 percent from the prior 4-week average.  The destinations were primarily to China (48,700 unsplit and 16,700 grain splits), Thailand (40,400 unsplit), Italy (24,100 unsplit and 3,000 grain splits), Vietnam (19,300 unsplit), and Mexico (3,600 unsplit and 2,200 grain splits).  Net sales of 1,088,000 splits were reported for Vietnam (919,000 pounds, including decreases of 4,400 pounds), China (126,900 pounds), and Taiwan (42,000 pounds).  For 2021, total net sales reductions of 40,100 pounds were for Vietnam.  Exports of 648,000 pounds were to Vietnam.

·         Beef: Net sales of 24,700 MT reported for 2020 were up 37 percent from the previous week and 67 percent from the prior 4-week average.  Increases were primarily for Japan (9,900 MT, including decreases of 600 MT), South Korea (5,700 MT, including decreases of 400 MT), China (4,300 MT), Hong Kong (2,000 MT, including decreases of 100 MT), and Mexico (800 MT, including decreases of 100 MT).  For 2021, net sales of 1,300 MT were primarily for Hong Kong (500 MT) and South Korea (500 MT).  Exports of 16,600 MT were down 5 percent from the previous week, but up 2 percent from the prior 4-week average.  The destinations were primarily to South Korea (4,500 MT), Japan (4,000 MT), China (1,700 MT), Hong Kong (1,500 MT), and Taiwan (1,400 MT).

·         Pork: Net sales of 39,500 MT reported for 2020 were up 5 percent from the previous week, but down 8 percent from the prior 4-week average.  Increases were primarily for Mexico (17,900 MT, including decreases of 1,000 MT), China (6,500 MT, including decreases of 1,100 MT), Canada (4,400 MT, including decreases of 400 MT), South Korea (4,000 MT, including decreases of 600 MT), and Japan (2,800 MT, including decreases of 100 MT).  For 2021, net sales of 1,300 MT were for Chile (1,100 MT) and Australia (200 MT).  Exports of 32,600 MT were down 9 percent from the previous week, but unchanged from the prior 4-week average.  The destinations were primarily to Mexico (10,500 MT), China (9,500 MT), Japan (4,400 MT), Canada (2,400 MT), and South Korea (1,800 MT).

 

U.S. EXPORT SALES FOR WEEK ENDING 9/24/2020                      

 

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    

282.2

1,633.2

1,247.1

286.0

3,658.2

3,632.9

0.0

10.9

   SRW    

2.8

321.0

633.1

100.9

806.5

1,039.7

1.3

2.6

   HRS     

107.4

1,709.8

1,437.6

130.2

2,345.7

2,115.3

0.0

5.0

   WHITE   

116.2

1,304.5

940.0

108.2

1,679.0

1,414.2

0.0

0.0

   DURUM  

-2.3

233.8

208.0

20.7

298.6

236.6

0.0

0.0

     TOTAL

506.3

5,202.3

4,465.8

646.1

8,787.9

8,438.7

1.3

18.5

BARLEY

0.0

33.6

41.9

0.0

8.5

15.6

0.0

0.0

CORN

2,027.1

21,879.2

8,104.7

750.2

2,743.0

1,606.8

0.0

206.0

SORGHUM

38.8

2,567.6

92.3

58.2

235.1

42.9

136.0

136.0

SOYBEANS

2,591.2

33,447.8

11,305.2

1,139.6

4,681.1

2,853.8

0.0

60.0

SOY MEAL

13.6

520.2

895.9

135.8

11,602.0

11,347.2

523.1

2,885.7

SOY OIL

6.3

68.7

126.6

31.0

1,219.0

799.3

0.6

122.9

RICE

 

 

 

 

 

 

 

 

   L G RGH

92.1

358.2

402.2

1.4

54.5

206.1

0.0

0.0

   M S RGH

0.0

27.0

24.2

0.5

2.0

6.6

0.0

0.0

   L G BRN

0.2

13.8

11.5

0.8

5.5

3.0

0.0

0.0

   M&S BR

0.2

15.1

0.1

0.1

18.2

0.7

0.0

0.0

   L G MLD

2.1

57.4

171.3

3.9

60.9

202.5

0.0

0.0

   M S MLD

32.6

75.9

89.0

4.0

63.0

117.3

0.0

0.0

     TOTAL

127.1

547.3

698.2

10.7

204.1

536.2

0.0

0.0

COTTON

 

THOUSAND RUNNING BALES      

   UPLAND

233.8

5,785.9

6,984.2

218.2

2,170.1

1,756.1

20.6

470.6

   PIMA

19.5

221.3

123.4

10.8

87.4

65.0

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

AIM: fi_treilly

ICE IM:  treilly1

Skype: fi.treilly

 

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