FI Morning Grain Comments 08/19/21

PDF attached

 

Good
morning.

 

WASHINGTON,
August 19, 2021–Private exporters reported to the U.S. Department of Agriculture the following activity:

Export
sales of 263,000 metric tons of soybeans for delivery to China during the 2021/2022 marketing year; and

Export
sales of 148,590 metric tons of soybeans for delivery to Mexico during the 2021/2022 marketing year.

 

Many
global commodity markets fell overnight on economic concerns.  WTI crude oil was more than $1.70/barrel lower, gold higher and USD up 21 points at the time this was written.  China is releasing metal reserves, pressuring many metal futures markets.  China
Evergrande Group, China’s second-largest property developer by sales, is thought to be in financial trouble, and this among other negative macroeconomic news is weighing on global stocks.  CBOT agriculture futures are lower following the weakness in outside
markets.

 

Pro
Farmer projected higher corn yields and higher soybean pod counts than last year & 3-year average in Illinois.  For western Iowa, the tour pegged the corn yield higher than last year (2/3 districts above 3-year average) and pod count higher than 2020 and average. 
Today they survey Minnesota and Eastern IA.  Final tour results will be released around the close on Friday (1:30 PM CT they issued in 2020). 

 

 

Weather

 

WORLD
WEATHER INC.

WORLD
WEATHER HIGHLIGHTS FOR AUGUST 19, 2021

• Not
  much change around the world overnight
• Net
  drying is expected in the heart of the central and eastern U.S. Midwest for a while in this coming week, but rain is likely in the northwest
• Cold
  air in western Canada and Montana will shift to the east, modify and then be reinforced with more cool air over the next several days
• Rain
  will fall across the northern Plains, eastern Canada’s Prairies and the northwestern Corn Belt into Saturday with a follow up disturbance expected Sunday into Monday
• Rainfall
  of 0.30 to 1.25 inches and local totals of 1.60 inches will be possible in the western Dakotas and eastern Montana while 0.75 inch to 1.50 inches and local totals over 2.00 inches occurs in eastern North Dakota, western and northern Minnesota and Manitoba
• Local
  totals of 2.00 to more than 3.00 inches are possible in Manitoba and a couple of counties over the border in North Dakota and Minnesota
• A
  good mix of weather will occur from the U.S. southern Plains into the southeastern states
• Hurricane
  Grace has reached the Yucatan Peninsula and will be downgraded to tropical storm status briefly today
• The
  storm will move over the Bay of Campeche tonight and Friday while returning to hurricane status
• Landfall
  is expected Friday night and early Saturday in Veracruz, Mexico where torrential rain, flooding and damaging wind will impact personal property, citrus, rice, sugarcane and a few other crops
• Coffee
  may also be impacted in Veracruz, Hidalgo and northern Puebla, although damage potentials are low in these areas
• Tropical
  Storm Henri will become a hurricane in the western Atlantic Ocean over the next couple of days and it may impact New England as well as Nova Scotia, Canada late this weekend into early next week
• Europe
  weather will be good for fieldwork and late season crop development from France to western Russia
• Southeastern
  Europe remains too dry and warm with little change likely for ten days
• Cooling
  in northern Russia will bring temperatures to the frost range next week, but only on the northern fringes of western Russia’s crop region and in the northern and eastern most New Lands
• Drying
  will continue in Kazakhstan and much of Russia’s New Lands for the next ten days speeding along spring and summer crop maturation, but maintaining worry over spring cereal and sunseed yield in Kazakhstan and southern parts of the New Lands
• Northwestern
  India will continue dry; including Gujarat, western and northern Rajasthan and neighboring areas of Pakistan
• Punjab
  and Haryana should get some rain
• Central
  and especially eastern India will receive abundant rainfall during the next ten days keeping the ground saturated in many areas and inducing a little flooding
• East-central
  China will receive abundant excessive rainfall during the next ten days possibly inducing a little more flooding
• Northeastern
  China will also remain wet with frequent bouts of rain
• Drying
  is needed in spring wheat areas
• Australia
  will continue dry biased in Queensland, northern New South Wales and northern Western Australia
• Rain
  will be needed in these areas soon to improve pre-reproductive wheat and barley conditions
• South
  Africa rainfall will be most frequent and significant in the south part of the nation during the next couple of weeks
• West-Central
  Africa will continue to receive periodic rainfall with a boost in Ivory Coast and Ghana rainfall expected gradually during the next two weeks
• Ethiopia
  will be wetter than usual
• Most
  of Southeast Asia will get rain periodically during the next two weeks, although the moisture may be a little light and sporadic in western Indonesia at times.
  

Source:
World Weather Inc. 

 

Bloomberg
Ag Calendar

Thursday,
Aug. 19:

• USDA
  weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
• Brazil’s
  Conab releases sugar and cane production data (tentative)
• USDA
  total milk, read meat production
• Port
  of Rouen data on French grain exports
• HOLIDAY:
  India, Pakistan, Bangladesh

Friday,
Aug. 20:

• ICE
  Futures Europe weekly commitments of traders report (6:30pm London)
• CFTC
  commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
• China’s
  country-wise import data for farm goods such as soybeans, corn and pork
• FranceAgriMer
  weekly update on crop conditions
• Malaysia
  Aug. 1-20 palm oil export data
• U.S.
  Cattle on Feed, 3pm

Source:
Bloomberg and FI

 

 

 

 

USDA
Export Sales

Soybeans
new-crop sales of 2.142 million tons were above the top end of a range of expectations and viewed friendly for new-crop futures.  New-crop soybeans included China (1,030,000 MT) and unknown destinations (841,000).  Soybean meal sales were within expectations
and shipments of 213,700 tons were good for this time of year.  Soybean oil sales continue to struggle at less than 1,000 tons for combined old and new-crop.  Corn sales for old crop were 216,600 tons, with only a couple weeks left in the crop year, and new-crop
was 510,000 tons, down from 601,800 tons previous week.  Mexico dominated the corn sales.  All-wheat sales were 306,700 tons (China 197,400 MT, including 195,000 MT switched from unknown destinations), above 293,100 tons previous week. 

 

 

 

Macros

China
To Continue To Release Copper, Aluminum, Zinc From State Reserves – National Reserves Administration

 

US
Initial Jobless Claims Aug 14: 348K (est 364K; prevR 377K; prev 375K)

US
Continuing Claims Aug 7: 2820K (est 2800K; prevR 2899K; prev 2866K)

 

US
Philadelphia Fed Business Outlook Aug: 19.4 (est 23.1; prev 21.9)

US
August Philly Fed Fed Prices Paid Index At 71.2 (prev 69.7)

US
August Philly Fed Factory Index At 19.4 (prev 21.9)

US
August Philly Fed Employment Index At 32.6 (prev 29.2)

US
August Philly Fed Prices Paid At 71.2 (prev 69.7)

US
August Philly Fed Prices Received At 53.9 (prev 46.8)

US
August Philly Fed New Orders At 22.8 (prev 17.0)

US
August Philly Fed Shipments 18.9 (prev 24.6)

US
August Philly Fed Inventories -18.1 (prev -4.0)

 

Corn

·        
US corn is lower on a higher USD, $2.00 decline in WTI crude and sharply lower wheat. 

·        
Pro Farmer projected higher corn yields and higher soybean pod counts than last year & 3-year average in Illinois.  For western Iowa, the tour pegged the corn yield higher than last year (2/3 districts above 3-year average) and
pod count higher than 2020 and average.  Today they survey Minnesota and Eastern IA.  Final tour results will be released around the close on Friday (1:30 PM CT they issued in 2020). 

·        
Traders are seeing yield estimates form this tour for corn as bullish.  We agree. 

·        
US ethanol production fell by a more than expected 13,000 barrels per day to 973,000 barrels, lowest amount since April 30, 2011.  Traders were looking for production to be up 1,000 barrels.  Stocks saw a draw of 718,000 barrels,
largest weekly decline since May 7, to 21.558 million barrels, lowest level since June 9. 

·        
Bulgaria reported an outbreak of African swine fever at an industrial farm with 13,000 pigs in the central village of Apriltsi. 

·        
The U.S. Environmental Protection Agency on Wednesday announced they will ban the use on food crops of the pesticide chlorpyrifos.  It has been linked to health problems in children.

 

Export
developments.

• South
  Korea’s KFA bought 65,000 tons of animal feed corn at an estimated $320.75 a ton c&f sourced from South America or South Africa for arrival in South Korea around Nov. 20.
• Results
  awaited:  Qatar seeks about 100,000 tons of barley on August 18 for Sep-Nov delivery. 
  
• Turkey
  seeks 270,000 tons of barley on August 20 for shipment between Sep 1 and Sep 25. 
  

 

 

Soybeans

·        
Widespread global commodity selling is weighing on the US soybean complex.  Lower trade in WTI crude and palm oil is sending soybean oil about 90 points lower.  Look for losses in soybeans to be limited. 

·        
USDA announced a combined 411,590 tons of soybeans were sold to China and Mexico. 

·        
Malaysian palm oil fell 63 points (10-day low) to 4,238 and cash was down $15/ton at $1,065/ton.  Weak palm oil exports are weighing on palm futures. 

·        
China futures trended lower. 

·        
Offshore values are leading soybean oil 37 points higher and meal $1.90 lower. 

·        
Rotterdam vegetable oils were mixed and meal 2-7 euros lower. 

·        
Malaysian palm oil

·        
China cash crush margins were last positive 89 cents on our analysis (previous 106) versus 87 cents late last week and also 87 cents around a year ago. 

·        
China

 

Export
Developments

·        
WASHINGTON, August 19, 2021–Private exporters reported to the U.S. Department of Agriculture the following activity:

• Export
  sales of 263,000 metric tons of soybeans for delivery to China during the 2021/2022 marketing year; and
• Export
  sales of 148,590 metric tons of soybeans for delivery to Mexico during the 2021/2022 marketing year.

·        
Egypt’s GASC got one offer in sunflower oil tender at 1,336 a ton c&f, no soyoil offers.  This is for arrival Oct 5-25.  Payment is for 180-day letters of credit or at sight. 

·        
Results awaited: South Korea’s Agro-Fisheries & Food Trade Corp. seeks 3,700 tons of non-GMO soybeans (August 19) for arrival between Oct. 20 and Nov. 19.

 

Wheat

·        
Wheat is lower on a higher USD and widespread commodity selling. 

·        
EU December wheat was down 3.75 euros at the time this was written at $244.50. 

·        
The Euro hit a session low of 1.1664, lowest level since November 4, 2020. 

·        
Manitoba, Canada, Crop Report:  Harvest progress reached 21%, ahead of the 4-year average of 14% for the third week of August. 

·        
Bulgaria’s wheat crop was estimated at 7.1 million tons from 98.7% of the sown area, up 54% from a year ago.

 

Export
Developments. 

·        
Jordan passed on barley. 

·        
Algeria bought up to 290,000 tons of wheat at $350-$351/ton for September shipment. 

·        
Japan bought 143,765 tons of food wheat.  Original details as follows:

·        
Results awaited: The Philippines seeks 280,000 tons of feed wheat (August 19) for October/November shipment.

·        
Jordan floated a new import tender for wheat set to close Aug 25.

·        
Bangladesh seeks 50,000 tons wheat on September 1.

·        
Pakistan seeks 400,000 tons of wheat on August 23 for Sep/Oct shipment. 

·        
Morocco seeks 363,000 tons of US durum wheat under a tariff import quota on August 24 for shipment by December 31. 

 

Rice/Other

• None reported
  

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING  8/12/21

	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	132.6	1,630.7	1,642.5	127.1	1,530.5	2,367.0	0.0	0.0
SRW	42.1	889.4	691.1	156.5	705.8	384.9	0.0	0.0
HRS	61.3	1,271.0	1,877.6	233.2	1,291.0	1,430.0	0.0	0.0
WHITE	70.7	877.0	1,244.8	75.1	766.0	912.0	0.0	0.0
DURUM	0.0	8.4	254.9	0.0	42.2	209.3	0.0	0.0
TOTAL	306.7	4,676.5	5,710.9	591.8	4,335.5	5,303.2	0.0	0.0
BARLEY	-0.1	22.0	31.1	0.6	2.9	8.2	0.0	0.0
CORN	216.5	4,905.6	3,002.5	829.2	65,412.0	41,218.9	510.0	18,598.7
SORGHUM	-108.2	368.9	289.1	50.5	6,712.6	4,340.0	0.0	1,594.9
SOYBEANS	67.7	2,381.4	5,534.2	258.0	59,703.3	41,758.9	2,142.1	13,864.9
SOY MEAL	72.4	1,585.4	1,464.0	213.7	10,415.6	10,528.0	104.6	1,522.0
SOY OIL	0.5	17.5	175.3	0.4	666.0	1,091.4	0.1	0.7
RICE
L G RGH	54.5	222.3	144.8	36.1	36.1	26.7	0.0	0.0
M S RGH	0.0	9.0	28.1	0.2	0.2	0.8	0.0	0.0
L G BRN	0.5	2.2	9.0	10.2	10.5	1.5	0.0	0.0
M&S BR	0.2	0.1	30.1	0.2	0.2	1.7	0.0	0.0
L G MLD	-13.8	176.2	54.8	25.4	26.9	6.0	0.0	0.0
M S MLD	1.9	59.2	54.4	20.1	22.9	19.1	-2.1	0.0
TOTAL	43.3	469.0	321.2	92.1	96.7	55.8	-2.1	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	242.4	4,807.1	5,995.0	221.1	411.7	700.1	59.5	575.6
PIMA	10.6	112.9	181.2	3.7	11.4	14.1	0.0	0.0

This
summary is based on reports from exporters for the period August 6-12, 2021.

Wheat:  Net
sales of 306,700 metric tons (MT) for 2021/2022 were up 5 percent from the previous week, but down 23 percent from the prior 4-week average.  Increases primarily for China (197,400 MT, including 195,000 MT switched from unknown destinations), South Korea (76,600
MT), Taiwan (48,600 MT), Vietnam (33,500 MT, including 30,600 MT switched from unknown destinations), and the Philippines (33,400 MT, including decreases of 5,500 MT), were offset by reductions primarily for unknown destinations (217,000 MT).  Exports of 591,800
MT were down 6 percent from the previous week, but up 29 percent from the prior 4-week average.  The destinations were primarily to Japan (124,800 MT), the Philippians (122,200 MT), Nigeria (79,200 MT), China (69,500 MT), and Mexico (46,900 MT).

Corn: 
Net sales of 216,500 MT for 2020/2021 were down 43 percent from the previous week, but up noticeably from the prior 4-week average.  Increases reported for Mexico (190,100 MT, including decreases of 22,900 MT), Canada (62,300 MT), El Salvador (24,000 MT, including
23,000 MT switched from Guatemala and decreases of 200 MT), Honduras (5,800 MT, including decreases of 4,500 MT), and China (2,900 MT), were offset by reductions for unknown destinations (32,700 MT), Guatemala (20,300 MT), and Japan (15,600 MT).  For 2021/2022,
net sales of 510,000 MT primarily for Mexico (307,500 MT), Colombia (88,800 MT), Japan (50,000 MT), unknown destinations (50,000 MT), and Honduras (5,500 MT), were offset by reductions for Guatemala (3,900 MT).  Exports of 829,200 MT were down 22 percent from
the previous week and 31 percent from the prior 4-week average.  The destinations were primarily to Mexico (292,400 MT), China (274,900 MT), Japan (149,400 MT), Guatemala (54,600 MT), and El Salvador (26,400 MT). 

Optional
Origin Sales: 
For 2020/2021, the current outstanding balance of 30,500 MT is for unknown destinations.  For 2021/2022, the current outstanding balance of 50,000 MT is for unknown destinations.

Barley: 
Total net sales reductions for 2021/2022 of 100 MT were for Canada.  Exports of 600 MT were unchanged from the previous week, but up noticeably from the prior 4-week average.  The destinations were to Japan (500 MT) and South Korea (100 MT).

Sorghum: 
Net sales reductions of 108,200 MT for 2020/2021 resulting increases for Mexico (6,500 MT), were more than offset by reductions for unknown destinations (110,000 MT) and China (4,700 MT).  Exports of 50,500 MT were down 30 percent from the previous week and
20 percent from the prior 4-week average.  The destination was primarily to China (50,400 MT).

Rice:
 Net
sales of 43,300 MT for 2021/2022 primarily for Mexico (21,800 MT, including decreases of 600 MT), Costa Rica (18,400 MT), Guatemala (15,400 MT), the United Kingdom (5,100 MT), and Saudi Arabia (2,700 MT), were offset by reductions primarily for Haiti (22,400
MT).  Total net sales reductions for 2022/2023, of 2,100 MT were for Japan.  Exports of 92,100 MT were primarily to Haiti (22,600 MT), Mexico (19,900 MT), Japan (15,800 MT), the United Kingdom (10,100 MT), and Guatemala (9,500 MT). 

Exports
for Own Account: 
For 2021/2022, new exports for own account totaling 100 MT were to Canada.  The current exports for own account outstanding balance is 100 MT, all Canada.

Soybeans: 
Net sales of 67,700 MT for 2020/2021 were down 30 percent from the previous week, but up noticeably from the prior 4-week average.  Increases primarily for China (92,300 MT, including 68,000 MT switched from unknown destinations), Taiwan (12,300 MT, including
decreases of 300 MT), Japan (11,200 MT, including 9,000 MT switched from unknown destinations and decreases of 300 MT), Vietnam (11,200 MT), and Indonesia (7,600 MT, including decreases of 200 MT), were offset by reductions for unknown destinations (76,800
MT).  For 2021/2022, net sales of 2,142,100 MT were primarily for China (1,030,000 MT), unknown destinations (841,000), Egypt (184,000 MT), Mexico (28,900 MT), and Taiwan (25,000 MT).  Exports of 258,000 MT were up 99 percent from the previous week and 37
percent from the prior 4-week average.  The destinations were primarily to China (144,200 MT), Japan (59,500 MT), Indonesia (15,600 MT), Colombia (14,800 MT), and Mexico (11,600 MT).

Exports
for Own Account: 
For 2020/2021, the current exports for own account outstanding balance is 5,800 MT, all Canada.

Soybean
Cake and Meal: 
Net sales of 72,400 MT for 2020/2021 were down 38 percent from the previous week and 29 percent from the prior 4-week average.  Increases primarily for Japan (37,000 MT, including 3,000 MT switched from unknown destinations), Mexico (12,900 MT, including decreases
of 1,100 MT), Canada (10,200 MT, including decreases of 200 MT),  El Salvador (9,000 MT, including 9,600 MT switched from Guatemala and decreases of 600 MT), and Honduras (8,000 MT, including 6,000 MT switched from Nicaragua), were offset by reductions for
Guatemala (10,300 MT), Nicaragua (6,000 MT), unknown destinations (3,000 MT), and Belgium (2,200 MT). 
For 2021/2022, net sales of 104,600 MT primarily for the Philippines (90,000 MT), Canada (6,500 MT), Mexico (4,600 MT), and Nicaragua (2,200 MT), were offset by reductions for Guatemala (1,900 MT). 
Exports of 213,700 MT were down 15 percent from the previous week, but up 3 percent from the prior 4-week average.  The destinations were primarily to Mexico (38,600 MT), Japan (38,100 MT), Colombia (31,500 MT), Guatemala (22,200 MT), and Honduras (22,000
MT). 

Soybean
Oil: 
Net sales of 500 MT for 2020/2021 were up 54 percent from the previous week, but down 67 percent from the prior 4-week average.  Increases were reported for Canada (300 MT, including decreases of 100 MT) and Honduras (200 MT).  Total net sales for 2021/2022
of 100 MT were for Honduras.  Exports of 400 MT were down 14 percent from the previous week and 79 percent from the prior 4-week average.  The destinations were to Canada (300 MT) and Mexico (100 MT).

Cotton: 
Net sales of 242,400 RB for 2021/2022 primarily for China (161,900 RB, including 3,400 RB switched from Singapore, 600 RB switched from Hong Kong, and decreases of 11,100 RB), Turkey (46,100 RB, including decreases of 2,800 RB), Pakistan (16,400 RB, including
decreases of 700 RB), Vietnam (12,400 RB, including 4,000 RB switched from China, 1,000 RB from Japan, and decreases of 1,400 RB), and Peru (4,900 RB), were offset by reductions primarily for Singapore (3,400 RB) and Japan (1,400 RB).  Total net sales of 59,500
RB for 2022/2023, were for Pakistan.  Exports of 221,100 RB were primarily to Pakistan (49,600 RB), Vietnam (38,000 RB), Turkey (31,700 RB), China (22,100 RB), and Bangladesh (17,600 RB).  Net sales of Pima totaling 10,600 RB primarily for China (3,800 RB,
including 300 RB switched from Germany), India (2,600 RB, including decreases of 600 RB), Pakistan (2,200 RB), the United Arab Emirates (900 RB), and Turkey (500 RB), were offset by reductions for Germany (300 RB).  Exports of 3,700 RB were to India (1,400
RB), China (1,100 RB), Peru (800 RB), and Pakistan (400 RB).

Exports
for Own Account: 
For 2021/2022, new exports for own account totaling 100 RB were to Vietnam.  The current exports for own account outstanding balance of 4,800 RB is for China (4,700 RB) and Vietnam (100 RB).

Hides
and Skins: 
Net sales of 190,400 pieces for 2021 were down 42 percent from the previous week and 43 percent from the prior 4-week average.  Increases primarily for China (101,600 whole cattle hides, including decreases of 25,000 pieces), Thailand (67,200 whole cattle
hides, including 16,400 whole cattle hides switched from Taiwan and decreases of 700 pieces), Mexico (15,500 whole cattle hides, including decreases of 600 pieces), South Korea (8,200 whole cattle hides, including decreases of 1,100 pieces), and Canada (1,000
whole cattle hides, including decreases of 1,000 pieces), were offset by reductions primarily to Taiwan (3,500 whole cattle hides).  Exports of 357,200 pieces were down 14 percent from the previous week and from the prior 4-week average.  Whole cattle hides
exports were primarily to China (249,000 pieces), South Korea (48,900 pieces), Thailand (23,300 pieces), Mexico (11,300 pieces), and Taiwan (10,000 pieces).

Net
sales of 113,000 wet blues for 2021 were down 17 percent from the previous week and 12 percent from the prior 4-week average.  Increases primarily for China (29,900 unsplit), Taiwan (28,100 unsplit, including decreases of 200 unsplit), Vietnam (23,900 unsplit),
Mexico (23,400 grain splits), and Thailand (8,000 unsplit, including decreases of 400 unsplit), were offset by reductions for Italy (200 unsplit and 100 grain splits).  Exports of 148,000 wet blues were down 9 percent from the previous week, but up 3 percent
from the prior 4-week average.  The destinations were to Italy (40,300 unsplit and 10,400 grain splits), China (30,100 unsplit), Vietnam (20,400 unsplit), Taiwan (19,200 unsplit), and Mexico (9,400 unsplit and 8,400 grain splits).  Net sales of 336,900 splits
were reported for China (252,900 pounds, including decreases of 700 pounds) and Taiwan (84,000 pounds).  Exports of 202,600 pounds were to Vietnam (160,000 pounds) and China (42,600 pounds).

Beef: 
Net
sales of 11,100 MT reported for 2021 were down 18 percent from the previous week and 42 percent from the prior 4-week average.  Increases primarily for Japan (2,800 MT, including decreases of 400 MT), South Korea (2,800 MT, including decreases of 400 MT),
China (1,800 MT, including decreases of 300 MT), Taiwan (900 MT, including decreases of 100 MT), and Mexico (600 MT, including decreases of 100 MT), were offset by reductions for Colombia (100 MT).  Exports of 19,700 MT were up 6 percent from the previous
week, but down 1 percent from the prior 4-week average.  The destinations were primarily to South Korea (5,600 MT), Japan (4,700 MT), China (4,200 MT), Mexico (1,200 MT), and Taiwan (1,100 MT). 

Pork: 
Net
sales of 20,000 MT reported for 2021 were up 37 percent from the previous week, but down 31 percent from the prior 4-week average.  Increases primarily for Mexico (6,900 MT, including decreases of 700 MT), Japan (3,100 MT, including decreases of 300 MT), Colombia
(3,000 MT, including decreases of 200 MT), Canada (2,300 MT, including decreases of 700 MT), and South Korea (1,500 MT, including decreases of 100 MT), were offset by reductions for Australia (200 MT).  Exports of 28,700 MT were up 4 percent from the previous
week, but down 2 percent from the prior 4-week average.  The destinations were primarily to Mexico (13,500 MT), China (4,500 MT), Japan (4,300 MT), Canada (1,600 MT), and Colombia (1,400 MT).

August
19, 2021                                               1                FOREIGN AGRICULTURAL SERVICE/USDA