FI Grain Market Update 01/07/21

PDF attached includes Bloomberg summary of US November ag exports. November soybean exports were a little better than expected.  USDA export sales were poor all around.  There were no changes to Argentina’s
weather forecast. 

 

Morning. 

 

Markets
are reacting to outside influences. 

 

Weather

World
Weather Interests Of The Day

• China
  low temperatures slipped to the positive and negative single digits Fahrenheit in many wheat production areas from Shandong and Hebei to central and northern Shaanxi this morning in areas with little to no snow on the ground
• World
  Weather, Inc. is concerned that at least some winter crop damage has resulted, but it will not be assessable until spring when greening normally occurs and a complete understanding of the impact may not be possible until the harvest is complete
• Losses
  may not be tremendous because of sufficient crop hardening over the past week to ten days by cool conditions, but the lack of snow and abundant moisture in the crop’s leaf mass should have led to at least some negative impact
• India’s
  northern rain ended Wednesday and drier weather is expected in that region for the coming week
• Central
  India will receive some showers today and Friday and that, too, will be beneficial
• Rain
  at this time of year can improve crop development ahead of reproduction in late January and February bolstering production potentials
• Wheat
  has likely benefited most from the precipitation in northern India, but a few other crops have also benefited
• Rainfall
  in northern India in the past week varied from 0.27 to 1.69 inches except in Himachal Pradesh where much greater amounts resulted
• Far
  southern India has been a little too wet recently and additional moisture is expected
• The
  precipitation has been good for winter rice and some other winter crops, but not so good for late season harvesting of cotton, groundnuts and other crops
• The
  additional rain will slow sugarcane harvesting as well as the harvest of other late season crops
• Argentina
  rainfall Wednesday diminished greatly, but some lingering rain occurred in the far south and extreme northwest
• This
  week’s weather has improved crop and field conditions in portions of western and southern Argentina, but central and east-central crop areas have not seen much rain and may be the last to get rain in the coming ten days
• Rain
  is expected to impact many areas in Argentina over the next ten days with western and northern areas wettest
• The
  precipitation will be most significant next week and there will be at least some rain in the driest areas, but most likely the amount of rain that occurs in southern Santa Fe, Entre Rios and northern Buenos Aires will not be enough to fully restore soil moisture
  which will raise the potential for greater crop stress a little later in January when drier and warmer weather returns
• The
  moisture next week in northern and west-central Argentina will be sufficient to maintain or possibly improve crop and field conditions with Cordoba, Santiago del Estero, Chaco, northern Santa Fe, Formosa and a part of Corrientes wettest
• Argentina’s
  potential for drier and warmer weather in the last ten days of January are moderately high which will stress those crop areas that receive the lightest rainfall next week and into the following weekend
• That
  warrants a very close watch on the rain distribution during the next ten days
• Brazil
  rainfall has been sporadic and light at times this week
• Net
  drying has occurred in many areas, but good soil moisture is still present supporting crop needs
• A
  boost in precipitation will occur in Brazil grain, oilseed and cotton areas during the weekend and next week that should replenish soil moisture and improve crop conditions
• There
  is some concern for light rainfall in southern Brazil from Parana into Rio Grande do Sul which would be typical of La Nina
• These
  areas will not be totally dry, but rain amounts may be a little lighter than desired to sustain the best crop conditions for more than ten days warranting some increase in rainfall soon thereafter
• Rio
  Grande do Sul is already beginning to dry down and even though some rain will fall in the state next week there will be a higher demand for moisture soon to prevent plant moisture stresses from becoming significant
• Rainfall
  relative to normal in Mato Grosso and Tocantins may be below average during the coming two weeks, but totally dry weather is not likely
• The
  lighter than usual rainfall is expected to make the timing of rain far more important in supporting the best yields than usual
• There
  is no reason to expect crop failings, but greater rainfall will be needed to protect production potentials and induce the best yield potentials
• Morocco
  will receive waves of rain over the coming week bolstering soil moisture for improved wheat and barley establishment
  
• This
  is the beginning of the third year of drought in southwestern Morocco making the coming week of rain extremely important and welcome
• Some
  rain began in a part of the nation Tuesday and Wednesday, but amounts were light in the southwest
• Northwestern
  Algeria has also been drier biased this season and some rain will fall there as well
  
• Most
  of the Mediterranean Sea region of southern Europe will receive frequent rainfall resulting in greater soil moisture, but also inducing some potential for flooding
• Rainfall
  will be greatest in eastern Spain, Italy, the eastern Adriatic Sea nations and from parts of Greece and Bulgaria to Russia’s Southern Region
• Waves
  of rain and snow will impact Russia’s Southern Region through the next ten days resulting in a welcome boost to soil moisture in areas that have no frost in the ground
• Snow
  will pile up on top of the ground in areas where temperatures are coldest, but the snow will melt during the warmer days and weeks ahead in late winter and early spring to improve soil conditions for better winter crop establishment
• Waves
  of rain will impact the Philippines starting late this week and lasting a full week
• Excessive
  moisture is expected resulting in new flooding for parts of the nation especially in the east-central islands
• Flooding
  has already been an issue for the nation at times in recent months and additional damage to crops and property will be possible
• Frequent
  rain in Indonesia and Malaysia will eventually result in some new flooding
• Recent
  flooding in Peninsular Malaysia caused damage to crops and personal property, although that situation will improve before new excessive rain and flooding impacts a part of the region in the coming week to ten days
• Other
  areas in Indonesia and Malaysia are likely to become too wet over time with Java and northern Borneo as well as peninsular Malaysia impacted from time to time.
  
• Mainland
  areas of Southeast Asia will be dry over the next ten days except coastal areas of Vietnam where waves of rain are expected
• East-central
  Australia received additional showers Wednesday impacting northeastern New South Wales and southeastern Queensland
• Rainfall
  varied from 0.10 to 0.68 inch with a few local totals over 1.00 inch
• As
  much as 4.39 inches occurred in far southeastern Queensland near the Pacific Coast
• Much
  needed drier weather occurred in the Cape York Peninsula and around the Townsville area where copious rainfall has occurred in the past week
• East-central
  Australia will receive additional showers and thunderstorms into Friday and then net drying is expected for a while in key grain and cotton production areas
• Another
  0.50 to 2.50 inches of rain and locally more will occur by Saturday morning in southeastern Queensland
• Not
  much other precipitation is expected there or in New South Wales for a full week
• Southern
  parts of the Cape York Peninsula and the upper Queensland, Australia coast will experience a return of frequent rain through the next ten days resulting in more flooding
  
• The
  area near Townsville, Queensland has received excessive rainfall in the past week and will be getting much more resulting in damage for sugarcane and some other agriculture
• South
  Africa will receive frequent showers and thunderstorms over the next ten days bringing rain to most summer crop areas and ensuring aggressive crop development
• Western
  areas may be wettest for a while
• U.S.
  weather Wednesday brought rain and snow to the middle Missouri River Valley and then a more generalized area of rain in parts of eastern Texas and the western and lower parts of the Delta.
  
• Some
  rain and mountain snow also continued in the Pacific Northwest
• U.S.
  weather changes were minor overnight
• Rain
  will move from the Delta through the southeastern states today and Friday with 0.30 to 1.00 inch of moisture and local totals to 1.50 inches
• Rain
  and snow are still expected in the southwestern U.S. Plains this weekend with moisture totals of 0.15 to 0.60 inch and locally more
• Several
  inches of snow will impact the Texas Panhandle, eastern New Mexico, West Texas cotton areas and southeastern Colorado
• Rain
  from the southwestern Plains rain and snow event will push through the lower Delta to the southeastern states early next week
• Waves
  of rain and mountain snow will continue in the U.S. Pacific Northwest in this coming week
• Cold
  air surging southward from Canada late next week into the following weekend will bring snow with it across the northern Plains and Midwest
• Follow
  up cold surges are expected during the second week of the U.S. outlook bringing temperatures below normal in the north-central parts of the United States and across Canada’s Prairies
• Cooling
  will occur in the lower Midwest and Atlantic Coast States, too, but no excessive cold will occur in those areas
• Waves
  of snow will accompany the shots of cold air during the January 14-20 period with a larger storm eventually expected along the middle and north Atlantic Coast States
• West
  Africa rainfall will remain mostly confined to coastal areas while temperatures in the interior coffee, cocoa, sugarcane, rice and cotton areas are in a seasonable range for the next ten days
• East-central
  Africa rainfall will continue limited in Ethiopia as it should be at this time of year while frequent showers and thunderstorms impact Tanzania, Kenya and Uganda over the next ten days
• Southern
  Oscillation Index remains very strong during the weekend and was at +19.23 today which is the highest this index has been in the current La Nina episode
• Mexico
  and Central America weather will continue to generate erratic rainfall
• Far
  southern Mexico and portions of Central America will be most impacted by periodic moisture
• Canada
  Prairies will remain unseasonably warm through mid-week next week and then much colder in the following week.
• Southeast
  Canada will receive less than usual precipitation this week and temperatures will continue a little warmer than usual
  

Source:
World Weather Inc. and FI

 

 

 

 

Bloomberg
Ag Calendar

Thursday,
Jan. 7:

• FAO
  World Food Price Index
• USDA
  weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
• Port
  of Rouen data on French grain exports
• HOLIDAY:
  Russia, Ghana, Egypt

Friday,
Jan. 8:

• 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
• Trading
  of China’s hog futures to begin on Dalian Commodity Exchange
• HOLIDAY:
  Russia

Source:
Bloomberg and FI

 

 

 

Macros

US
Initial Jobless Claims Jan 2: 787K (est 800K; prevR 790K; prev 787K)

US
Continuing Claims Dec 26: 5072K (est 5200K; prevR 5198K; prev 5219K)

US
Trade Balance (USD) Nov: -68.1B (est -67.3B; prevR -63.1B)

 

US
ISM Non-Mfg PMI Dec: 57.2 (est 54.6; prev 55.9)

–
Business Activity Dec: 59.4 (est 55.0; prev 58.0)

–
Employment Index Dec: 48.2 (est ; prev 51.5)

–
New Orders Index Dec: 58.5 (est ; prev 57.2)

–
Prices Paid Dec: 54.8 (prev 66.1)

 

Corn.

• CBOT
  corn
  futures were taking a breather this morning from a higher USD and corn export sales that came in the lower end of trade expectations. 
  
• On
  Wednesday, funds bought an estimated net 13,000 contracts. 
• CBOT
  open interest for corn was up 35,508 contracts (March 5,233 per CME). 
• Hungary
  plans to cull 90,000 turkeys amid bird flu. 
• US
  ethanol production unexpectedly expanded 1,000 barrels to 935,000 barrels, still 12 percent below this time a year ago.  Traders were looking for a 7,000 decline.  Corn crop year t o date (September through early January) is running 7.3 percent below the same
  period a year earlier.  There were no ethanol imports. US ethanol stocks declined 220,000 barrels to 23.284 million.  Traders were looking for an increase of 241,000.  This was the first decrease in stocks in ten weeks.  US gasoline demand fell 687,000 barrels
  to 7.441 million, down 8.5 percent from a year ago.  The refinery and blender net input of oxygenates fuel ethanol (blender input) was 719,000 barrels, down 99,000 from the previous week and 10.2 percent below year ago.  The percent of ethanol blended into
  finished motor gasoline was 89.5 percent. 

 

Corn
Export Developments

• Turkey
  seeks 155,000 tons of corn on January 12 for Jan 25-Feb 15 shipment.

• Qatar
  seeks 100,000 tons of bulk barley on January 12.

• Qatar
  seeks 640,000 cartons of corn oil on January 12.

 

Soybean
complex.  

• CBOT
  soybeans were lower on very poor USDA export sales and a higher USD.  Offshore values were suggesting a lower trade in the products this morning.  Back to the sales data, soybean shipments were reported below 2 million tons at 1.857 million.  Inspections suggested
  they should have been lower.  Census reported November trade data and soybean exports came in 8 million bushels above our expectations at 408 million, below 420 million in October and compares to 98 million during November 2019.  See attached table after the
  comment. 
• Under
  the USDA 24-hour reporting system, private exporters sold over 340,000 tons of soybeans to unknown, some received. 
  
• On
  Wednesday, funds bought an estimated 13,000 soybean contracts, 5,000 soybean meal and 4,000 soybean oil lots. 
  
• CBOT
  open interest for soybeans was up 14,975 contracts (Jan down 537 to 770). 
  
• Offshore
  values this morning were leading CBOT soybean oil 85 points lower and meal $6.70 lower.
  
• Rotterdam
  soybean oil values are about 10 euros lower, rapeseed oil down 15 euros, and Rotterdam meal 1-6 euros lower. 
  
• Malaysian
  palm oil futures: 

• China
  cash crush margins were 141 cents on our calculation (134 previous), compared to 113 last week and 133 year ago.
  
• China
  futures

 

Oilseeds
Export Developments

• 24-hour
  USDA sales: Private
  exporters reported to the U.S. Department of Agriculture the following activity:

• Export
  sales of 213,350 metric tons of soybeans received during the reporting period for delivery to unknown destinations during the 2020/2021 marketing year; and
• Export
  sales of 130,000 metric tons of soybeans for delivery to unknown destinations during the 2021/2022 marketing year.  

 

MPOB
Jan. 11 palm estimates:

               
Range   Median

Production         
1,296,000-1,386,000        1,326,283

Exports
                1,272,000-1,650,000        1,500,000

Imports
               60,000-150,000  100,000

Closing
stocks    1,107,000-1,477,200        1,218,535

 

Wheat

• US
  wheat futures are lower again on lack of bullish news.  USDA reported export sales at a low 275,300 tons.  We see wheat prices appreciating only if the rally in corn and soybeans continues, otherwise the trade will want to see an improvement in US exports
  before getting back behind the market.  US weather is still an issue with below average late fall/early winter precipitation for the US Great Plains although Nebraska winter wheat crop ratings did improve from late November.  Look for Texas and Oklahoma to
  update winter wheat crop ratings on Monday.  They were not released this past Monday afternoon. 
  
• French
  soft wheat exports outside the European Union in December fell to 797,000 tons in December, below the 877,000 tons in November. 
  
• On
  Wednesday funds sold an estimated net 5,000 Chicago SRW wheat contracts. 
• CBOT
  Chicago wheat open interest was up 7,323 contracts (March up 616).
• EU
  March milling wheat was down 1.00 at 215 euros. 

 

Export
Developments.

• Jordan
  seeks 120,000 tons of wheat on January 13 for July-August shipment. 
• Japan
  this week seeks 120,228 tons of food wheat from the United States, Canada and Australia in a regular tender.
  
• Turkey
  seeks 155,000 tons of feed barley on January 12. 
• Ethiopia
  canceled an import tender for 600,000 tons of wheat that was set to close back on November. 
  
• Bangladesh
  seeks 50,000 tons of wheat in January 13 for shipment within 40 days of contract signing. 
  
• Bangladesh
  also seeks 50,000 tons of wheat in January 18 for shipment within 40 days of contract signing. 
  

 

Rice/Other

·        
Syria seeks 25,000 tons of rice on February 9. 

·        
Bangladesh seeks 60,000 tons of rice on January 20. 

 

 

Export
Sales Highlights  

This
summary is based on reports from exporters for the period December 25-31, 2020.

 

Wheat:  Net
sales of 275,300 metric tons (MT) for 2020/2021 were down 47 percent from the previous week and from the prior 4-week average.  Increases primarily for Taiwan (82,300 MT), China (55,400 MT), Mexico (33,700 MT, including decreases of 26,800 MT), the Philippines
(33,300 MT), and Nigeria (33,000 MT), were offset by reductions primarily for Italy (10,000 MT) and Vietnam (4,000 MT).  For 2020/2021, total net sales of 6,000 MT were for the Philippines.  Exports of 418,700 MT were down 4 percent from the previous week,
but up 5 percent from the prior 4-week average.  The destinations were primarily to the Philippines (127,300 MT), Mexico (91,800 MT), China (68,000 MT), Japan (60,800 MT), and Nigeria (47,500 MT). 

Optional
Origin Sales:  For
2020/2021, the current outstanding balance of 10,000 MT, all Spain.

Corn:  Net
sales of 748,900 MT for 2020/2021 were down 22 percent from the previous week and 39 percent from the prior 4-week average.  Increases primarily for Japan (174,500 MT, including 31,900 MT switched from unknown destinations and decreases of 2,000 MT), unknown
destinations (153,000 MT), Mexico (101,300 MT, including 31,000 MT switched from unknown destinations and decreases of 69,500 MT), China (90,400 MT, including 70,000 MT switched from unknown destinations), and Peru (81,000 MT), were offset by reductions for
Canada (2,200 MT).  Exports of 1,027,900 MT were down 23 percent from the previous week, but up 7 percent from the prior 4-week average.  The destinations were primarily to China (421,400 MT), Mexico (307,500 MT), Japan (112,600 MT), Colombia (102,300 MT),
and Guatemala (28,200 MT). 

Optional
Origin Sales:  For
2020/2021, the current outstanding balance of 1,351,400 MT is for South Korea (838,000 MT), unknown destinations (224,000 MT), Taiwan (140,000 MT), China (65,000 MT), Japan (52,000 MT), and Ukraine (32,400 MT). 

Barley:  There
were no new sales or exports reported this week.

Sorghum:  Net
sales reductions of 300 MT for 2020/2021–a marketing-year low–were down noticeably from the previous week and the prior 4-week average.  Increases reported for China (29,700 MT, including 30,000 MT switched from unknown destinations and decreases of 4,000
MT), were offset by reductions for unknown destinations (30,000 MT).  For 2021/2022, net sales of 98,000 MT were for unknown destinations (68,000 MT) and China (30,000 MT).  Exports of 85,600 MT were down 47 percent from the previous week and 45 percent from
the prior 4-week average.  The destination was China.

Rice:  Net
sales of 38,400 MT for 2020/2021 were down 18 percent from the previous week and 61 percent from the prior 4-week average.  Increases reported for Mexico (23,000 MT), Haiti (6,900 MT, including decreases of 15,400 MT), Canada (3,700 MT), Japan (2,300 MT),
and Saudi Arabia (1,100 MT), were offset by reductions for Venezuela (1,200 MT).  Exports of 102,700 MT were up 13 percent from the previous week and 22 percent from the prior 4-week average.  The destinations were primarily to Venezuela (29,500 MT), Mexico
(26,400 MT), Haiti (22,200 MT), South Korea (16,800 MT), and Canada (2,100 MT).

Soybeans:  Net
sales of 37,000 MT for 2020/2021–a marketing-year low–were down 95 percent from the previous week and 94 percent from the prior 4-week average.  Increases primarily for China (369,000 MT, including 462,000 MT switched from unknown destinations, 66,000 MT
switched from South Korea, and decreases of 346,800 MT), Germany (122,700 MT), Spain (72,500 MT, including 65,000 MT switched from unknown destinations), Pakistan (70,100 MT, including 66,000 MT switched from unknown destinations), and Portugal (60,500 MT,
including 60,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (769,500 MT).  For 2021/2022, net sales of 79,800 MT were for China (63,000 MT) and Japan (16,800 MT).  Exports of 1,857,000 MT were down
24 percent from the previous week and 26 percent from the prior 4-week average.  The destinations were primarily to China (1,084,400 MT), Mexico (127,300 MT), Germany (122,700 MT), Spain (72,500 MT), and Pakistan (70,100 MT).  Exports for Own Account:  For
2020/2021, the current exports for own account outstanding balance is 6,100 MT, all Canada.

Export
Adjustments:  Accumulated
export of soybeans to the Netherlands were adjusted down 69,103 MT for week ending December 10^th and 53,558 MT for week ending December 17^th.  The correct destination for these shipments is Germany and is included in this week’s report.

Soybean
Cake and Meal:  Net
sales of 124,100 MT for 2020/2021 were up 63 percent from the previous week, but down 32 percent from the prior 4-week average.  Increases reported for Vietnam (49,100 MT, including 45,000 MT switched from unknown destinations), Bangladesh (45,000 MT), Costa
Rica (22,000 MT), Mexico (11,600 MT, including decreases of 9,100 MT), and Canada (9,100 MT), were offset by reductions primarily for unknown destinations (43,900 MT).  For 2021/2022, total net sales of 700 MT were for Canada.  Exports of 280,000 MT were down
2 percent from the previous week, but up 5 percent from the prior 4-week average.  The destinations were primarily to Vietnam (51,200 MT), Denmark (48,000 MT), the Philippines (46,600 MT), Mexico (46,200 MT), and Canada (22,400 MT).

Soybean
Oil:  Net
sales of 3,500 MT for 2020/2021 primarily for Mexico (1,800 MT), Haiti (1,500 MT), and Colombia (800 MT, including decreases of 200 MT), were offset by reductions primarily for Venezuela (500 MT).  Exports of 11,100 MT were primarily to Colombia (3,300 MT),
Costa Rica (3,000 MT), El Salvador (2,000 MT), Haiti (1,500 MT), and Mexico (1,100 MT).

Cotton:  Net
sales of 153,100 RB for 2020/2021 were down 47 percent from the previous week and 60 percent from the prior 4-week average.  Increases were primarily for Pakistan (69,500 RB), China (36,700 RB, including 6,600 RB switched from Vietnam, 2,900 RB switched from
Hong Kong, and decreases of 14,300 RB), Turkey (24,900 RB), South Korea (6,100 RB), and Japan (5,500 RB), were offset by reductions primarily for Bangladesh (11,900 RB).  Exports of 270,000 RB were down 2 percent from the previous week and 4 percent from the
prior 4-week average.  Exports were primarily to China (167,600 RB), Pakistan (28,500 RB), Vietnam (23,600 RB), Bangladesh (9,200 RB), and Indonesia (8,700 RB).  Net sales of Pima totaling 6,200 RB were down 59 percent from the previous week and 63 percent
from the prior 4-week average.  Increases were primarily for Vietnam (2,100 RB), India (2,100 RB, including decreases of 1,400 RB), and Austria (1,300 RB).  Exports of 12,400 RB were down 20 percent from the previous week and 37 percent from the prior 4-week
average.  The destinations were primarily to China (5,300 RB), Vietnam (2,400 RB), India (1,600 RB), Turkey (1,300 RB), and Pakistan (900 RB). 

Exports
for Own Account:  For
2020/2021, new exports for own account totaling 4,400 RB were to China.  The current exports for own account outstanding balance of 4,400 RB is for China.

Hides
and Skins: Net
sales reductions of hides and skins for 2020 totaling 5,400 pieces, were primarily for China (4,300 pieces), Thailand (400 pieces), Mexico (300 pieces), and South Korea (200 pieces).  In addition, net sales reductions of kip skins for 2020 totaling 100 pieces,
were for Italy.  Outstanding sales of hides and skins totaled 2,658,600 pieces on December
31^st and were carried over to 2021.  For 2020, hide and skins exports of 244,100 pieces, were primarily to China (168,700 pieces), South Korea (31,500 pieces), and Mexico (21,300 pieces).  In addition, exports of calf skins totaling 5,600 pieces
were to Italy and export of kip skins totaling 1,000 pieces were to Italy.  Accumulated exports of hides and skins in 2020 totaled, 21,233,400 pieces, down 2 percent from the prior year’s total of 21,748,100 pieces.

Net
sales of 8,900 wet blues for 2020 were reported.  Increases reported for Vietnam (5,200 grain splits), Italy (3,000 unsplit), and Mexico (1,100 grain splits), were offset by reductions for Thailand (300 unsplit).  Outstanding sales of wet blues, grain splits
and unsplit, of 537,400 on December 31^st and
were carried over to 2021.  Exports of 96,100 wet blues were primarily to Vietnam (23,500 unsplit and 5,200 grain splits), Italy (27,200 unsplit), Thailand (17,900 unsplit), and China (12,000 unsplit and 2,100 grain splits).  Accumulated exports in 2020
totaled 6,040,100 wet blues, down 20 percent from the prior year’s total of 7,266,700 wet
blues. Net sales of splits for 2020 totaling 1,600 pounds were for Italy (1,400 pounds) and Vietnam (200 pounds).  Outstanding sales of splits totaled 1,226,200 pounds on
December 31^st were carried over to 2021.  Exports of splits for 2020 totaling 88,400 pounds were to Italy (49,300 pounds) and Vietnam (39,000 pounds).  Accumulated exports of splits in 2020 totaled 16,779,200 pounds, up 7 percent from the prior
year’s total of 15,552,200 pounds.

Beef: Net
sales reductions of 1,200 MT for 2020 resulting in increases for South Korea (100 MT), were more than offset by reductions primarily for Japan (1,100 MT).  Outstanding sales
on December 31^st totaled 98,000 MT and were carried over to 2021.  Exports of 12,100 MT were primarily to
Japan (3,700 MT), South Korea (3,200 MT), Mexico (1,400 MT), China (1,200 MT), and Taiwan (800 MT).  Accumulated exports for 2020 totaled 851,800 MT, up 3 percent from the 823,500 MT exported in 2019.

Pork: Net
sales reductions of 8,600 MT for 2020, resulting in increases for Mexico (3,500 MT) and South Korea (500 MT), were more than offset by reductions primarily for China (11,300 MT) and Japan (700 MT).  Outstanding sales on December 31^st totaled 158,000
MT and were carried over to 2021.  Exports of 26,700 MT were primarily to China (9,400 MT), Mexico (7,000 MT), Japan (3,500 MT), South Korea (1,700 MT), and Australia (1,100
MT).  Accumulated exports for 2020 totaled 1,938,000 MT, up 16 percent from the 1,624,000 MT exported in 2019.

 

U.S.
EXPORT SALES FOR WEEK ENDING 12/31/2020 

 

	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	23.5	1,459.6	1,439.8	199.1	5,664.8	5,504.5	0.0	22.0
SRW	7.6	495.1	525.7	20.1	1,082.3	1,574.8	0.0	145.0
HRS	203.8	1,753.4	1,205.3	121.8	4,227.6	4,092.0	0.0	45.0
WHITE	41.0	2,647.0	1,075.7	75.2	2,919.0	2,706.0	6.0	26.0
DURUM	-0.6	100.8	187.1	2.4	488.9	623.4	0.0	0.0
TOTAL	275.3	6,455.8	4,433.6	418.7	14,382.6	14,500.6	6.0	238.0
BARLEY	0.0	13.7	30.2	0.0	16.9	28.7	0.0	12.5
CORN	748.9	28,688.1	9,626.9	1,027.9	15,256.3	8,889.6	0.0	757.0
SORGHUM	-0.3	3,102.6	514.7	85.6	1,985.3	592.6	98.0	478.0
SOYBEANS	37.0	15,693.1	7,807.5	1,857.0	39,074.9	21,963.8	79.8	891.6
SOY MEAL	124.1	2,697.4	2,841.8	280.0	3,252.6	2,771.1	0.7	18.9
SOY OIL	3.5	286.0	120.8	11.1	205.1	307.5	0.0	0.6
RICE
L G RGH	21.6	201.7	308.8	54.7	787.0	675.1	0.0	0.0
M S RGH	0.0	16.2	15.3	0.2	12.7	15.5	0.0	0.0
L G BRN	0.0	9.6	21.0	0.1	22.1	19.6	0.0	0.0
M&S BR	0.4	45.2	43.9	16.4	50.5	15.3	0.0	0.0
L G MLD	11.0	70.1	148.0	25.4	295.1	488.6	0.0	0.0
M S MLD	5.3	181.5	167.1	6.0	196.2	255.2	0.0	0.0
TOTAL	38.4	524.4	704.1	102.7	1,363.5	1,469.2	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	153.1	6,014.8	7,489.6	270.0	5,523.4	4,136.9	0.0	795.9
PIMA	6.2	217.5	181.2	12.4	342.4	172.3	0.0	0.7