FI Evening Grain Comments 04/01//21

Apr 1, 2021







PDF Attached

 

The
NASS soybean crush and corn grind reports are viewed bearish for the soybean complex and corn futures.  CFTC Commitment of Traders and the US unemployment report will be released on Friday.  CBOT will be closed Friday, opening back up Sunday night.

 

CME
raised soybean futures maintenance margins by 11.7% to $3,350 per contract from $3,000 for May 2021, effective April 5.  Initial margins are 110% of that level. 

 

Look
for updated FI S&D’s for the US on Monday.  Trade estimates for the USDA report may be released as early as Monday evening. 

 

 

Weather

 

World
Weather Inc.

CHANGES
OVERNIGHT

  • Both
    the GFS and European models increased rain in Argentina for mid- to late-week next week and into the following weekend

o  
Some of the increase was needed

  • Both
    the GFS and European forecast models reduced rain in interior southern Brazil for the coming ten days; the change was not substantial, but notable

o  
The drier scenario does make a little more sense for a little while longer

  • U.S.
    Northern Plains and Canada’s Prairies were advertised drier for next week

o  
Too much moisture was removed from the outlook

o  
Rain and some snow are still expected in the region during the early to middle part of next week, although there will still be a big need for more moisture

  • 00z
    GFS model run generated too much rain from Colorado through the southern Plains for the second weekend of the outlook

o  
This was corrected on by the 06z GFS model run and should not verify

o  
The precipitation event was overdone

  • Warm
    to hot temperatures in the U.S.  Great Plains will evolve Saturday and be most significant Sunday and Monday before retreating to the south Tuesday and Wednesday

o  
Extreme highs in the 80s Fahrenheit will occur from the Northern Plains to West Texas resulting in livestock stress and fast drying conditions across the Plains

  • Western
    Europe was advertised a little warmer during the April 8-15 period

o  
Some of this increase was needed

  • A
    new tropical cyclone was advertised to brush along the lower east coast of Queensland and the upper New South Wales coast early to mid-week next week

o  
This increased rain event should only impact the coast and there is still time for the forecast to change

o  
Crop areas should stay free of this storm system

  • A
    tropical cyclone will evolve south of Timor in Indonesia in the next day or two and then run parallel to the northwestern Australia coast late this weekend into next week

o  
The storm could impact the northwest coast of Australia during mid-week next week with heavy rain and strong wind speeds in a small part of the coast

 

MOST
IMPORTANT WEATHER IN THE WORLD TODAY

  • Unusually
    warm weather in the central United States and central Canada this weekend into early next week will accelerate drying rates and raise the need for significant rain

o  
Highest temperatures in the upper 70s and 80s will impact the U.S. Plains and far western Corn Belt with a few extremes near 90 possible

      • Sunday
        and Monday will be hottest, but the heat will already be expanding from some areas Saturday and the heat will linger in the southern Plains into Tuesday

o  
Hard red winter wheat areas will experience a quick decline in soil moisture raising the need for rain later this month

o  
The heat and dryness in the Northern Plains will worsen drought and put much more pressure on the region to get a general soaking of rain soon to support spring planting this month

o  
Livestock stress will be high during the weekend as temperatures get quite warm to hot after being chilly the past couple of days

o  
Some concern about limited rainfall remains after the heat wave breaks, but some scattered showers and thunderstorms should evolve

      • Favoring
        the east and not the west, though
  • Northern
    U.S. Plains and a part of Canada’s Prairies will have a chance for rain during mid-week next week as a disturbance comes into the region from the southwest

o  
Limited moisture will be available, but some rain will likely evolve in a part of the region

  • U.S.
    Delta and southeastern states will see less rain less significantly during the next two weeks

o  
One disturbance is expected late next week that will disrupt drying between now and then and that which is expected in the following weekend

  • U.S.
    Midwest planting is expected to begin in the lower Midwest during the coming week while soil moisture is favorable and in decline while warming impacts the region
  • West
    Texas is still too dry and unlikely to get much rain for the next ten days
  • South
    Texas  and the Texas Coastal Bend region still need substantial rainfall in unirrigated crop areas, but not much is expected for a while
  • U.S.
    hard freeze Friday and Saturday mornings will occur in the Carolinas and Virginia resulting in some damage to fruit trees and some minor winter wheat

o  
Wheat production losses will not be significant enough to impact the nation’s bottom line

o  
Fruit tree damage may be significant, however

  • Dryness
    remains in the Yakima Valley of Washington and southward into Oregon threatening some of the unirrigated winter crops as they break from dormancy
  • Canada’s
    Prairies received significant snow Monday and it will melt over the next couple of days adding a little moisture to the soil

o  
Much more precipitation is needed before drought status is changed and the moisture is needed to support early season planting next month

  • Canada’s
    eastern Prairies will get another round of rain and some snow during mid-week next week to further improve topsoil moisture for better planting potentials later in April
  • Argentina
    will see mostly good weather for the next ten days with net drying for many areas into Tuesday and then rain late next week and into the following weekend.

o  
Subsoil moisture will carry normal crop development during the drying period

o  
Soil moisture is abundant enough to carry on normal late season crop development without much need for new precipitation

      • Enough
        new rain will occur next week to ensure good soil moisture through mid-month
  • Brazil
    weather has become more favorably mixed and it will continue that way for the next ten days

o  
There is much interest about potential dryness in late April and May because of unusually late planted Safrinha crops; yield potentials may be much lower than usual if there is not abundant rainfall through  May

      • The
        odds are good that below average precipitation will occur in April, but some of the rain that does fall should be well timed and beneficial

o  
Less rain was advertised for interior southern Brazil and parts of center south Brazil for the coming ten days today relative to that of Wednesday

  • Snow
    remains on the ground in much of western and northern Russia and additional precipitation is expected during the snow melt season possibly raising the potential for flooding
  • Ukraine
    topsoil moisture is favorably rated, but there is still need for routinely occurring precipitation this spring to ensure dryness does not make a comeback; this is especially true for eastern Ukraine

o  
Soil temperatures are rising and will support some greening later this month

  • Recent
    rain in Russia’s  Southern Region and Kazakhstan was welcome and good for spring planting and winter crop development; however, there is need for much more rainfall this spring to end multiple years of drought
  • Western
    Europe will dry down in this coming week and then cool off with some timely rainfall in the following week

o  
Soil and winter crop conditions should remain favorably rated, despite the drying bias in western areas

      • Rain
        will have to occur in April to replenish topsoil moisture
  • North
    Africa is drying down and there is need for rain in northwestern Algeria and southwestern Morocco

o  
Relief is not very likely in the coming week, but may evolve in the following weekend

  • China
    weather remains almost ideal for early season fieldwork and winter crop development in the Yellow River Basin, North China Plain and northeastern provinces, although warming is needed
  • China’s
    Yangtze River Basin has been a little wet this month and drier and warmer weather is needed to induce better rapeseed and southern wheat conditions, but no significant loss in production potential has occurred
  • Yunnan,
    China is still too dry and needs significant rain for its rice, corn and sugarcane

o  
Rain has been removed from the outlook today relative to that of Wednesday

  • Australia’s
    Queensland and New South Wales crop areas are trending drier, but that is welcome from a summer crop maturation and harvest perspective after recent rain
  • India
    weather will be almost ideal for crop maturation and harvesting in the next few weeks. The nation may have lost a little production this year because of dryness during reproduction, but another big crop is expected
  • Indonesia
    and Malaysia weather has been and will continue to be good for all crops, although there is need for rain in northern parts of Peninsular Malaysia
  • A
    tropical disturbance in the southern Bay of Bengal will be closely monitored for additional development, but recent model runs have diminished this event

o  
There is no longer a threat to southern Myanmar from this potential system unless it regenerates over the weekend

  • Philippines
    weather has been and will continue to be good for most of its crops, although some areas in the north may develop a greater need for rain soon
  • Mainland
    Southeast Asia crop areas need a boost in precipitation to induce better early season planting conditions for corn and sugarcane development as well

o  
March precipitation was below average and not very supportive of early season corn and rice planting; dryness was also a concern for the start of sugarcane development

o  
Rain is expected to improve over the next two weeks and the moisture boost will be beneficial for planting and early season crop development

  • West-central
    Africa coffee and cocoa weather has been very good recently and that is not likely to change much for a while; some rice and sugarcane has benefited from the pattern as well

o  
Rainfall will be a little lighter and less frequent over the next ten days, but crop conditions should remain favorable

  • East-central
    Africa rainfall has been erratic recently and a boost in precipitation should come to Ethiopia in April while Tanzania begins to dry down
  • South
    Africa weather will continue favorably for early maturing summer crops and the development of late season crops

o  
Net drying is expected for a while which will support faster crop maturation and will eventually support early season harvest progress

o  
Temperatures will be warmer than usual and that will dry out the soil relatively quickly

  • New
    Zealand weather is drier than usual and precipitation will remain below average during the next ten days

o  
Temperatures will be seasonable

  • Southern
    Oscillation Index this morning was -0.13 and the index is expected to stay in a relatively narrow range of change over the next week.

Source:
World Weather inc.

 

Bloomberg
Ag Calendar

Thursday,
April 1:

  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
  • Port
    of Rouen data on French grain exports
  • Australia
    commodity index
  • U.S.
    corn for ethanol, soybean crush, DDGS production, 3pm
  • HOLIDAY:
    Mexico, Argentina and several other Latin American countries

Friday,
April 2:

  • CFTC
    commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
  • HOLIDAY:
    Good Friday holiday across most of Europe, Africa, Americas and parts of Asia

Source:
Bloomberg and FI

 

 

USDA
export sales

US
export sales for the soybean complex came in on the light side for all three commodities.  Soybean sales of 105,800 tons old crop included 124,000 tons for China (66k switched from unknown).  New crop soybean sales were 131,000 tons.  USDA soybean shipments
were a marketing year low of 460,900 tons.  Soybean meal shipments were good at 257,400 tons and SBO shipments were 10,700 tons (down from 13,200 tons previous week).  Corn export sales were 797,300 tons old-crop, lower end of trade expectations (no China). 
All-wheat sales of 250,100 tons for 2020-21 were within expectations but new-crop was light at 81,000 tons. The wheat sales include China switching 130,000 tons from unknown.  Pork sales were a large 61,000 tons-a marketing year high.  Sorghum sales of 121,000
tons were good and included China for 176,000 tons (55k switched from unknown) & decreases for unknown.  

 

 

 

Macro

US
Initial Jobless Claims Mar 27: 719K (est 675K; prevR 658K; prev 684K)

US
Continuing Claims Mar 20: 3794K (est 3750K; prevR 3840K; prev 3870K)

 

Canadian
MLI Leading Indicator (M/M) Feb: 0.2% (prevR 0.2%; prev 0.1%)

Canadian
Building Permits (M/M) Feb: 2.1% (est -1.4%; prev 8.2%)

 

US
Markit Manufacturing PMI Mar F: 59.1 (est 59.1; prev 59.0)

US
March PMI At Second-Highest On Record Amid Marked New Order Growth And Supply Chain Disruptions – Markit

 

US
ISM Manufacturing PMI Mar: 64.7 (est 61.5; prev 60.8)

–
Prices Paid: 85.6 (est 85.0; prev 86.0)

–
New Orders: 68.0 (est 67.0; prev 64.8)

–
Employment: 59.6 (prev 54.4)

 

Corn

 

 

Western
Illinois University via farmdoc daily

Franken,
J. “A Bullish Supply Shock.” farmdoc daily (11):50,  Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, March 31, 2021.

 

EIA:
State gasoline taxes average about 30 cents per gallon

https://www.eia.gov/todayinenergy/detail.php?id=47376&src=email#

 

Export
developments.

  • None
    reported

 

 

 

Updated
3/31/21

May
corn is seen in a $5.40 and $6.00 range

July
is seen in a $5.25 and $6.00 range

December
corn is seen in a $3.85-$5.50 range.

 

Soybeans

 

Oct-Feb
soybean meal monthly S&D

 

 

Export
Developments

  • The
    USDA seeks 540 tons refined veg oil, under the McGovern-Dole Food for Education export program (470 tons in 4-liter cans and 70 tons in 4-liter plastic bottles/cans) on April 6 for May 1-31 (May 16 – Jun 15 for plants at ports) shipment. 

 

 

Updated
3/31/21

May
soybeans are seen in a $13.75 and $15.75 range.

           
November $10.50-$14.50

May
soymeal is seen in a $395 and $425 range.

           
December $325-$5.00

May
soybean oil is seen in a 50 and 55 cent range

           
December 40-60 cent wide range

 

 

Wheat

  • US
    wheat futures     were
    most consistent out of the three benchmark CBOT commodities for trading today.  Unlike corn and soybeans, wheat remained in a one-sided, lower direction, after traders divorced the commodity away from the bullish data for corn and soy released by USDA on Wednesday. 
    The lower trade in wheat reflected profit taking ahead of the long holiday weekend, and upward revision to the US winter wheat area by USDA yesterday.  We see the US carryout remaining at a large level. 
  • After
    the close     Egypt
    announced they seek wheat for August 1-10 shipment on Tuesday, April 6, with offers valid for 24 hours. 
  • May
    Paris milling wheat settled down 6.25 euros, or 2.9%, at 209.25 euros a ton.  During the session it fell to its lowest level since December 28 and below a previous three-month low struck this week.
  • Funds
    on Thursday sold an estimated net 7,000 CBOT SRW wheat contracts. 

 

Export
Developments.

  • Egypt
    seeks wheat for August 1-10 shipment on Tuesday, April 6, with offers valid for 24 hours. 
  • Saudi
    Arabia’s SAGO seeks 295,000 tons of 12.5% protein wheat on Friday for arrival during May and June.
  • Reuters
    noted SK millers bought another 65,000 tons of US wheat for July and August shipment.  80k was bought from US and Canada on Wednesday. 
  • Yesterday
    Algeria’s OAIC bought optional-origin milling wheat.  Some people put it at around 400,000-550,000 tons at around $279 a ton c&f (April-May shipment). 
  • Jordan
    seeks 120,000 tons of animal feed barley on April 6. 
  • Ethiopia
    seeks 400,000 tons of optional origin milling wheat, on April 20, valid for 30 days.  In January Ethiopia cancelled 600,000 tons of wheat from a November import tender because of contractual disagreements. 

 

Rice/Other

·        
Pakistan reversed their decision to allow imports of cotton and sugar per cabinet move. 

·        
Iraq seeks 30,000 tons of rice on April 5, valid until April 8. 

·        
Mauritius seeks 4,000 tons of optional origin long grain white rice on April 16 for delivery between June 1 and July 31.

·        
Syria seeks 39,400 tons of white rice on April 19.  Origin and type might be White Chinese rice or Egyptian short grain rice.

·        
Ethiopia seeks 170,000 tons of parboiled rice on April 20.

 

Updated
4/1/21

May Chicago wheat is seen in a $6.00‐$6.65 range

May KC wheat is seen in a $5.75‐$6.15 range

May MN wheat is seen in a $5.90‐$6.40 range (dn 10, unch)

 

 

USDA export sales data:

This
summary is based on reports from exporters for the period March 19 – 25, 2021.

Wheat:  Net
sales of 250,100 metric tons (MT) for 2020/2021 were down 27 percent from the previous week and 22 percent from the prior 4-week average.  Increases primarily for China (130,000 MT, switched from unknown destinations), the Philippines (123,300 MT, including
60,000 MT switched from Indonesia and decreases of 700 MT), South Korea (104,000 MT), Bangladesh (55,000 MT, switched from Indonesia), and Algeria (30,000 MT), were offset by reductions primarily for unknown destinations (120,000 MT) and Indonesia (114,900
MT).  For 2021/2022, net sales of 81,000 MT were reported for the Philippines (52,000 MT), South Korea (21,000 MT), and Mexico (8,000 MT).  Exports of 268,700 MT were down 59 percent from the previous week and 51 percent from the prior 4-week average.  The
destinations were primarily to Nigeria (80,100 MT), the Philippines (58,300 MT), Japan (30,600 MT), the Dominican Republic (27,100 MT), and Vietnam (26,000 MT). 

Corn: 
Net sales of 797,300 MT for 2020/2021 were down 82 percent from the previous week and 46 percent from the prior 4-week average.  Increases primarily for Japan (273,100 MT, including 143,700 MT switched from unknown destinations and decreases of 600 MT), Colombia
(245,000 MT, including 41,000 MT switched from unknown destinations and decreases of 106,800 MT), Saudi Arabia (139,200 MT, including 74,200 MT switched from unknown destinations), South Korea (123,500 MT, including decreases of 6,500 MT), and Mexico (83,800
MT, including decreases of 24,400 MT), were offset by reductions primarily for unknown destinations (228,800 MT).  For 2021/2022, total net sales of 60,000 MT were for Mexico.  Exports of 1,977,500 MT were unchanged from the previous week, but up 2 percent
from the prior 4-week average.  The destinations were primarily to Japan (434,200 MT), Mexico (298,100 MT), China (275,000 MT), Colombia (263,900 MT), and Taiwan (165,900 MT).

Optional
Origin Sales: 
For 2020/2021, new optional origin sales of 5,300 MT were reported for the China (4,800 MT) and unknown destinations (500 MT).  Options were exercised to export 65,000 MT to South Korea from the United States.  The current outstanding balance of 830,700 MT
is for South Korea (484,000 MT), unknown destinations (244,500 MT), China (69,800 MT), and the Ukraine (32,400 MT). 

Export
Adjustment: 
Accumulated exports of corn to Egypt were adjusted down 58,000 MT for week ending March 18th.  The correct destination was Saudi Arabia.

Barley: 
For 2020/2021, net sales of 100 MT were primarily for Taiwan.  Export of 400 MT were down 41 percent from the previous week, but up 22 percent from the prior 4-week average. The destinations were primarily to Taiwan (200 MT) and Canada (200 MT).

Sorghum: 
For 2020/2021, net sales of 121,000 MT resulting in increases for China (176,000 MT, including 55,000 MT switched from unknown destinations, decreases of 13,200 MT, and 59,300 MT – late), were offset by reductions for unknown destinations (55,000 MT).  For
2021/2022, total net sales of 63,000 MT were for China.  Exports of 306,300 MT were up noticeably from the previous week and from the prior 4-week average. The destination was China (including 59,300 MT – late).

Late
Reporting:
For 2020/2021, net sales and exports totaling 59,300 MT were reported late for China.

Rice: 
Net sales of 55,500 MT for 2020/2021 were up 4 percent from the previous week, but down 23 percent from the prior 4-week average.  Increases primarily for Japan (25,000 MT), Guatemala (10,500 MT, including 2,400 MT switched from El Salvador), Nicaragua (8,700
MT), Mexico (5,600 MT), and Canada (2,300 MT), were offset by reductions primarily for Honduras (1,200 MT).  Exports of 62,300 MT were up noticeably from the previous week, but down 19 percent from the prior 4-week average.  The destinations were primarily
to Honduras (24,100 MT), Haiti (7,000 MT), El Salvador (6,800 MT), Guatemala (4,700 MT), and Canada (4,300 MT).

Soybeans: 
Net sales of 105,800 MT for 2020/2021 were up 4 percent from the previous week, but down 54 percent from the prior 4-week average.  Increases primarily for China (124,000 MT, including 66,000 MT switched from unknown destinations), Egypt (49,300 MT, switched
from unknown destinations), Japan (44,100 MT, including 52,500 MT switched from unknown destinations and decreases of 11,900 MT), Belgium (27,700 MT, including 30,000 MT switched from unknown destinations and decreases of 2,300 MT), and Colombia (19,700 MT,
including 8,000 MT switched from unknown destinations and decreases of 2,100 MT), were offset by reductions primarily for unknown destinations (216,500 MT).  For 2021/2022, net sales of 131,000 MT were reported for Pakistan (55,000 MT), unknown destinations
(42,000 MT), and Mexico (34,000 MT).  Exports of 460,900 MT–a marketing-year low–were down 8 percent from the previous week and 35 percent from the prior 4-week average.  The destinations were primarily to Japan (90,600 MT), Mexico (89,700 MT), China (79,000
MT), Egypt (49,300 MT), and Belgium (27,700 MT). 

Exports
for Own Account: 
The current exports for own account outstanding balance is 5,800 MT, all Canada.

Soybean
Cake and Meal: 
Net sales of 139,700 MT for 2020/2021 were down 17 percent from the previous week and 34 percent from the prior 4-week average.  Increases primarily for Colombia (66,200 MT, including decreases of 2,500 MT), Canada (19,900 MT, including decreases of 100 MT),
Guatemala (10,000 MT, including 6,000 MT switched from Nicaragua, 4,700 MT switched from El Salvador, and decreases of 1,300 MT), Jamaica (9,000 MT), and  Mexico (9,000 MT, including decreases of 100 MT), were offset by reductions primarily for Nicaragua (5,300
MT) and El Salvador (2,900 MT).  For 2021/2022, total net sales reductions of 300 MT were for Canada.  Exports of 257,400 MT were down 9 percent from the previous week and 13 percent from the prior 4-week average.  The destinations were primarily to Colombia
(70,600 MT), the Philippines (50,400 MT), Mexico (33,400 MT), Honduras (24,300 MT), and Canada (22,700 MT).

Soybean
Oil: 
Net sales of 4,100 MT for 2020/2021 were down 69 percent from the previous week and 62 percent from the prior 4-week average.  Increases primarily for Nicaragua (2,200 MT), the Dominican Republic (1,700 MT), El Salvador (1,300 MT), and Mexico (500 MT), were
offset by reductions for Canada (900 MT) and Jamaica (700 MT).  Exports of 10,700 MT were down 12 percent from the previous week and 66 percent from the prior 4-week average.  The destinations were primarily to Colombia (5,000 MT), the Dominican Republic (4,200
MT), Mexico (1,000 MT), and Canada (400 MT).

Cotton: 
Net sales of 78,400 RB for 2020/2021 were down 71 percent from the previous week and from the prior 4-week average.  Increases primarily for Vietnam (97,300 RB, including 13,600 RB switched from China, 1,400 RB switched from South Korea, and 400 RB switched
from Japan), Pakistan (37,300 RB), Turkey (28,100 RB, including decreases of 8,800 RB), Mexico (14,100 RB, including decreases of 100 RB), and China (13,500 RB, including decreases of 24,200 RB), were offset by reductions primarily for Indonesia (119,500 RB). 
For 2021/2022, net sales of 41,400 RB primarily for South Korea (19,800 RB), Vietnam (13,200 RB), Turkey (9,700 RB), Mexico (2,000 RB), and Pakistan (1,800 RB), were offset by reductions for Indonesia (6,300 RB).  Exports of 324,700 RB were up 4 percent from
the previous week, but down 7 percent from the prior 4-week average.  Exports were primarily to Vietnam (70,300 RB), China (63,300 RB), Pakistan (56,300 RB), Turkey (35,200 RB), and Bangladesh (24,000 RB).  Net sales of Pima totaling 4,300 RB–a marketing-year
low–were down 38 percent from the previous week and 49 percent from the prior 4-week average.  Increases primarily for India (3,100 RB), Japan (600 RB), Bangladesh (300 RB), South Korea (300 RB), and Indonesia (100 RB), were offset by reductions primarily
for Italy (100 RB).  Exports of 14,300 RB were up 54 percent from the previous week and 9 percent from the prior 4-week average.  The destinations were primarily to India (11,300 RB), Peru (1,000 RB), Pakistan (900 RB), Vietnam (500 RB), and South Korea (400
RB).

Exports
for Own Account: 
For 2020/2021, new exports for own account totaling 500 RB were to Vietnam.  Exports for own account totaling 4,700 RB to Vietnam (3,100 RB) and China (1,600 RB) were applied to new or outstanding sales.  The current exports for own account outstanding balance
of 30,200 RB is for China (23,600 RB), Vietnam (6,200 RB), and Bangladesh (400 RB).

Hides
and Skins: 
Net sales of 357,600 pieces for 2021 were down 36 percent from the previous week and 28 percent from the prior 4-week average.  Increases primarily for China (193,900 whole cattle hides, including decreases of 26,700 pieces), South Korea (72,500 whole cattle
hides, including decreases of 2,400 pieces), Thailand (47,700 whole cattle hides, including decreases of 800 pieces), Mexico (27,900 whole cattle hides, including decreases of 3,400 pieces), and Spain (5,700 whole cattle hides), were offset by reductions primarily
for Taiwan (700 pieces) and Brazil (100 pieces).  Total
net sales reductions of 300 calf skins were for Italy.  In additions, total net sales of 1,800 kip skins, including decreases of 1,000 pieces, were for Belgium. 
Exports of 411,100 pieces for 2021 were up 9 percent from the previous week and 8 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (259,500 pieces), South Korea (63,800 pieces), Mexico
(33,400 pieces), Thailand (29,900 pieces), and Taiwan (11,400 pieces).  Exports of 800 calf skins were to Italy.  Additionally, exports of 3,500 kip skins were primarily to Belgium (2,600 kip skins).

Net
sales of 222,900 wet blues for 2021 were up 1 percent from the previous week and 67 percent from the prior 4-week average.  Increases primarily for Italy (83,500 unsplit), China (75,600 unsplit and 2,300 grain splits), Mexico (42,900 grain splits), Vietnam
(15,700 unsplit), and South Korea (1,600 grain split), were offset by reductions primarily for Thailand (100 unsplit).  Exports of 165,400 wet blues for 2021 were up 65 percent from the previous week and 64 percent from the prior 4-week average.  The destinations
were primarily to China (50,700 unsplit and 4,800 grain splits), Vietnam (34,500 unsplit), Italy (17,200 unsplit and 6,400 grain splits), Mexico (14,700 grain splits and 1,000 unsplit), and Thailand (13,300 unsplit).  Net sales of 161,500 splits were primarily
for Taiwan (86,000 pounds), China (71,700 pounds), and Italy (3,100 pounds).  Exports of 329,100 pounds were to Vietnam (237,800 pounds), Italy (47,100 pounds), and China (44,200 pounds).

Beef: 
Net
sales of 18,700 MT reported for 2021 were down 1 percent from the previous week and 15 percent from the prior 4-week average.  Increases primarily for Japan (6,000 MT, including decreases of 700 MT), China (5,900 MT, including decreases of 100 MT), South Korea
(2,600 MT, including decreases of 600 MT), Canada (1,100 MT, including decreases of 100 MT), and Hong Kong (800 MT, including decreases of 100 MT),
were
offset by reductions primarily for Kuwait (100 MT). 
Exports of 18,600 MT were unchanged from the previous week, but up 1 percent from the prior 4-week average.  The destinations were primarily to Japan (5,400 MT), South Korea (5,100 MT), China (2,900 MT), Mexico (1,400 MT), and Canada (800 MT).

Pork: 
Net
sales of 61,000 MT reported for 2021–a marketing-year high–were up 58 percent from the previous week and 43 percent from the prior 4-week average.  Increases were primarily for China (29,700 MT, including decreases of 1,200 MT), Mexico (15,800 MT, including
decreases of 500 MT), Japan (4,600 MT, including decreases of 200 MT), Canada (3,700 MT, including decreases of 400 MT), and Australia (2,200 MT, including decreases of 300 MT).  Exports of 40,400 MT were up 5 percent from the previous week and 2 percent from
the prior 4-week average.  The destinations were primarily to China (11,900 MT), Mexico (9,900 MT), Japan (5,200 MT), South Korea (4,000 MT), and Colombia (1,800 MT). 

U.S. EXPORT SALES FOR WEEK ENDING 3/25/2021 

 





























 

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    

98.0

1,426.7

1,812.1

70.1

7,087.1

7,492.2

13.0

296.5

   SRW    

-11.5

331.4

279.2

11.7

1,451.5

2,060.1

4.0

317.3

   HRS     

61.7

1,550.7

1,537.5

159.2

5,927.0

5,710.2

58.5

368.5

   WHITE   

101.8

2,030.7

1,148.5

27.6

4,628.6

3,830.3

5.5

188.8

   DURUM  

0.0

78.3

230.4

0.0

592.1

682.3

0.0

5.0

     TOTAL

250.1

5,417.7

5,007.7

268.7

19,686.3

19,775.1

81.0

1,176.1

BARLEY

0.1

5.8

10.7

0.4

23.1

38.7

0.0

20.2

CORN

797.3

31,808.4

13,600.8

1,977.5

33,917.6

18,306.6

60.0

1,999.5

SORGHUM

121.0

2,562.8

1,255.6

306.3

3,824.7

1,417.2

63.0

819.0

SOYBEANS

105.8

6,024.9

5,102.0

460.9

54,816.7

31,607.2

131.0

5,272.2

SOY MEAL

139.7

2,476.8

2,851.5

257.4

6,459.6

5,935.4

-0.3

250.0

SOY OIL

4.1

107.4

286.4

10.7

531.8

612.6

0.0

0.6

RICE

 

 

 

 

 

 

 

 

   L G RGH

25.1

316.2

328.3

39.4

1,092.6

979.0

0.0

0.0

   M S RGH

0.0

5.3

44.4

0.0

23.5

24.9

0.0

0.0

   L G BRN

0.1

3.7

20.7

0.5

33.9

36.7

0.0

0.0

   M&S BR

0.0

69.0

63.1

0.6

84.4

45.2

0.0

0.0

   L G MLD

3.7

49.4

94.0

12.6

453.6

648.8

0.0

0.0

   M S MLD

26.6

261.1

255.0

9.2

369.7

405.3

0.0

0.0

     TOTAL

55.5

704.7

805.4

62.3

2,057.6

2,139.9

0.0

0.0

COTTON

 

THOUSAND RUNNING BALES      

   UPLAND

78.4

5,105.5

6,665.1

324.7

9,471.5

8,627.3

41.4

1,542.9

   PIMA

4.3

247.5

211.4

14.3

491.8

328.2

0.0

1.1

 

 

Terry Reilly

Senior Commodity Analyst – Grain and Oilseeds

Futures International
One Lincoln Center
18 W 140 Butterfield Rd.

Oakbrook Terrace, Il. 60181

W: 312.604.1366

treilly@futures-int.com

ICE IM: 
treilly1

Skype: fi.treilly

 

Description: Description: Description: Description: FImail

 

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