FW: FI Morning Grain Comments 01/03/20

PDF attached

 

Morning. 
US airstrike near Baghdad’s airport killing a top Tehran general is widely affecting global markets. Gold and most energies were up sharply. 

 

 

 

US
selected winter wheat crop ratings: (see expanded table in wheat section)

・        
Kansas: 40% G/E vs. 44% at the end of November

・        
Oklahoma: 40% G/E vs. 52% at the end of November

・        
Nebraska: 70% G/E vs. 74% at the end of November

・        
South Dakota: 73% G/E vs. 78% at the end of November

 

Weather

 

MARKET
WEATHER MENTALITY FOR CORN AND SOYBEANS: 

South
America weather will be mixed with some concern about drying in northern Argentina, Paraguay and southern Brazil, but the odds seem to favor some timely rain in these areas especially in the Jan. 10-16 period and as long as that evolves production potentials
will not be changed. Weather in southern Argentina and the remainder of Brazil should be favorable with temporary improvements in northeastern Brazil.

            In
the meantime, recent rain in southern Sumatra and western and central Java and has been improving soil moisture for better oil palm production potentials in 2020. The rain must be sustainable over multiple weeks and it looks like that may be the case.

            South
Africa crop weather will remain varied offering some timely rainfall to many areas, but frequent follow up rain will be needed to seriously change crop moisture and development potential. Some areas may not get enough rain to counter evaporation in the next
two weeks while many others will.

            India
will get some additional rain in the east today benefiting some winter crops. Timely precipitation has occurred in many other areas and more is expected next week to support good yields.

            Winter
crops in China and Europe are semi-dormant and mostly in good shape. Rain in China this weekend into early next week will help to improve soil moisture for better winter rapeseed establishment prior to reproduction in the spring.

           
Late season farming activity in the United States will not advance very well for a while, but that is no change from recent weeks.

           
Overall, weather today will provide a neutral bias to market mentality.

 

MARKET
WEATHER MENTALITY FOR WHEAT:  Precipitation
in the U.S. hard red winter wheat production region last weekend bolstered topsoil moisture for improved wheat establishment in the spring. Additional moisture will be needed periodically through the winter to ensure the best crop development potential.

            More
rain in the U.S. Midwest and southeastern Canada over the next couple of weeks will maintain wet and in some cases snow covered conditions which should be good for crops in the spring.

            Winter
crop conditions in China will improve if precipitation falls as expected this weekend and early next week. The moisture will fall in areas that were a little dry in the autumn. Improvements in wheat establishment prior to reproduction cannot occur until warmer
weather comes along in the spring, but the moisture should still be available to crops unless a warm and dry finish to winter and start to spring takes place.

           
India wheat production areas will receive some welcome precipitation over the next week to ten days further ensuring high yields this winter.

            Crops
in Europe and the western CIS are dormant and mostly in fair to good shape. Dryness in the autumn left many crops in southeastern Europe, including Ukraine, and Kazakhstan with poor emergence and establishment. Timely rain and seasonable temperatures will
be needed in the spring. Until then, snow is needed to protect poorly established crops from any harsh or extreme weather that suddenly evolves. There is no threat of damaging cold for the next two weeks

           
North Africa wheat is in fair to good shape. Crops in southwestern Morocco are not well established and need timely rain in the next few weeks to induce better establishment prior to reproduction.

            Argentina
harvesting was disrupted by rain recently and additional precipitation is expected late this weekend, but good field working conditions should occur into Saturday to get some of the remaining wheat and barley crop harvested.

            Overall,
weather today will likely provide a bearish bias to market weather mentality.

Source:
World Weather Inc. and FI

 

Source:
World Weather Inc. and FI

 

Source:
World Weather Inc. and FI

 

Bloomberg
Ag Calendar

FRIDAY,
Jan. 3:

• USDA
  weekly crop net-export sales for corn, soybeans, wheat, 8:30am
• EIA
  U.S. weekly ethanol inventories, production, 11am
• ICE
  Futures Europe weekly commitments of traders report on coffee, cocoa, sugar positions ~1:30pm (~6:30pm London)

MONDAY,
JAN. 6:

• USDA
  weekly corn, soybean, wheat export inspections, 11am
• EU
  weekly grain, oilseed import and export data
• Ivory
  Coast cocoa arrivals

TUESDAY,
JAN. 7:

• New
  Zealand global dairy trade auction

WEDNESDAY,
JAN. 8:

• Conab
  releases 4th estimate for Brazil’s soy, corn crops

THURSDAY,
JAN. 9:

• USDA
  weekly crop net-export sales for corn, soybeans, wheat, 8:30am
• Port
  of Rouen data on French grain exports
• United
  Nation’s FAO Food Price Index
• Australia’s
  Bureau of Meteorology releases climate statement
• New
  Zealand commodity price

FRIDAY,
JAN. 10:

• USDA’s
  monthly World Agricultural Supply and Demand (WASDE) report, noon
• Malaysia
  end-2019 palm oil stocks, production, export numbers; Jan. 1-10 palm oil export data from AmSpec, Intertek and SGS
• U.S.
  winter wheat seeding forecast
• USDA
  quarterly wheat, barley, corn, soybean stocks, noon
• ICE
  Futures Europe weekly commitments of traders report on coffee, cocoa, sugar positions ~1:30pm (~6:30pm London)
• CFTC
  commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm

Source:
Bloomberg and FI

 

 

 

 

 

Selected
monthly Brazil commodity exports:

Commodity                     
December 2019     November 2019     December 2018

COFFEE(60
KG BAG)              3,161,900         3,293,500         4,099,399

CRUDE
OIL (TNS)                8,721,100         3,771,700         4,221,900

ETHANOL
(LTR)                  146,600,000       181,100,000       107,400,000

SOYBEANS
(TNS)                 3,439,200         5,157,700         4,070,900

IRON
ORE                       24,674,000        27,252,800        33,196,300

FROZEN
ORANGE JUICE (TNS)      32,100            71,700            60,900

NON-FROZEN
ORANGE JUICE (TNS)  203,000           180,500           361,600

SUGAR
RAW (TNS)                1,286,900         1,696,800         1,428,700

 

2019
USDA Loan

・        
USDA Loan Activity: 2019 Crop Sorghum Outstanding 0.988M Cwt

・        
USDA Loan Activity: 2019 Crop Corn Outstanding 511.441M Bu

・        
USDA Loan Activity: 2019 Crop Soybeans Outstanding 112.977M Bu    

・        
USDA Loan Activity: 2019 Crop Wheat Outstanding 51.569M Bu          

・        
USDA Loan Activity: 2019-2020 Cotton Under Loan Up 831,705

   
– DJ

 

 

USDA
export sales
were poor all around (holiday week). Soybean oil and all-wheat crop-year to date commitments lost some of its edge to the year ago pace. Soybean oil sales were negative 1,900 tons. Soybean sales were below expectations and a marketing year low.  Soybean meal
sales of less than 100,000 tons were at the low end of expectations.  Corn sales of 531,400 tons were within expectations, lowest since October 31 and well below its previous 4-week weekly average of 938,400 tons.  Corn commitments to Japan and especially
South Korea, are running below their respected 3-year averages.  All-wheat sales of 312,900 tons were down from 715,000 tons previous week.  Pork sales were a marketing year low. 

 

 

 

 

Macros.

 

 

Corn.

・        
Corn is lower on lower wheat and lack of US export developments.

・        
Geopolitical tensions will be in focus today as traders assess the impact over the US air strike near Baghdad’s airport killing a top Iranian general and other government official. 

・        
USD was 14 points higher as of 7:51 am CT. 

・        
Baltic Dry index fell 7 percent on Friday to 907 points. Yesterday it was down nearly 10.5 percent. 

・        
Argentina’s Buenos Aires Grain Exchange reported corn planting progress at 75 percent, up from 63 last week, up from 73 last year and 70 average.  Corn conditions were rated 31.5 percent good and excellent,
below 44.6 percent year ago. 

・        
The USDA NASS grain crush showed corn used for ethanol during the month of November at 457 million bushels, above expectations, above 433 million in October and 2 million above November 2018. 

・        
The Broiler Report showed eggs set in the United States up 4 percent and chicks placed up 7 percent.  Cumulative placements from the week ending January 5, 2019 through December 28, 2019 for the United States
were 9.66 billion. Cumulative placements were up 2 percent from the same period a year earlier.

 

Export
Developments

・        
China plans to sell 30k frozen pork from reserves today.

• India’s
  MMTC delayed their import tender for 50,000 tons of non-GMO corn from Jan 2 to January 7,
  for shipment by February 10. Another source put shipment by Jan 22. 

 

 

 

Soybean
complex.

・        
Soybeans and meal are lower this morning on lack of confirmation China bought US soybeans over the past week.  Soybeans are still higher for the week if prices hold from early morning values.  Soybean oil
was near unchanged early.

・        
Soybean export sales were a marketing year low.

・        
SBO longs should be cautious as US end of November stocks ended up above trade expectations, and stocks are catching up to last year’s level. 

・        
USDA NASS US soybean crush for November was 174.6 million bushels, 1.4 million below a Bloomberg trade average and below 178.1 million in November 2018. USDA revised October 0.2 bu lower to 187.0. 

・        
End of November US soybean oil stocks were 1.880 billion pounds, 27 million above an average estimate, above 1.820 billion previous month and compares to 1.900 billion at the end of November 2018. 

・        
Argentina’s Buenos Aires Grain Exchange reported soybean planting progress at 79 percent, up from 70 last week, down from 83 last year and 83 average.  Soybean conditions were rated 61 percent good and excellent,
above 31 percent year ago. 

• Rotterdam
  vegetable oils this morning were up 7 euros for nearby soybean oil positions and 5 euros lower for rapeseed oil. Rotterdam meal when imported from SA were mostly 1-3 euros lower. 
  

・        
Offshore values are leading CBOT soybean oil 47 points lower and meal $1.60 lower.  

・        
China cash crush was last 145 cents per bushel (139 prev.), compared to 131 on Friday and 11 cents year ago. 

・        
China:

・        
3-year high: Malaysian palm markets:
 

・        
USDA Attaché estimated the 2019-20 Brazil soybean crop at 123.5 million tons.  They increased the planted area to 36.8 million hectares.
https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Oilseeds%20and%20Products%20Update_Brasilia_Brazil_12-28-2019

・        
USDA Attached estimated Malaysia’s palm production for 2019-20 at 20.6 million tons, down 200,000 from their previous estimate. 
https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Oilseeds%20and%20Products%20Update_Kuala%20Lumpur_Malaysia_12-28-2019

 

Oilseeds
Export Developments

• USDA
  CCC seeks 14,650 tons of packaged vegetable oils for export to Yemen on January 7 with shipment February 1-29 (Feb. 16-Mar. 15 for plants at ports). 
  

 

 

Wheat

・        
US wheat futures fell on profit taking and uncertainty over US grain demand for the Middle East after the US airstrike in Iraq.

・        
US selected state winter wheat condition ratings fell from late November for a few key states.

・        
March Paris wheat futures earlier were down 1.25 at 188.25 euros as of early this morning.

・        
Northeast Ukraine and Russia’s central region and Volga Valley will see snow over the next few days.

 

 

Export
Developments.

• Results
  are awaited on Ethiopia in for 80,000 tons of durum wheat and another 75,000 tons of soft wheat after awarding 600,000 tons of wheat earlier this week.
  
• Jordan seeks 120,000 tons of wheat on January 7.
  
• Morocco seeks to import about 354,000 tons of US durum wheat on January
  9 for arrival by May 31.
• Mauritius seeks 95,000 tons of optional origin wheat flour on Jan.
  10, 2020, for shipment between July 1, 2020, and June 20, 2021. 
• Turkey seeks 550,000 tons of red milling wheat on January 14, minimum
  protein content of 13.5% for January 21-February 15 shipment. 
• Turkey seeks 100,000 tons of durum wheat on
  January 14 for Jan 25-Feb 25 shipment.

・        
Syria seeks 200,000 tons of soft wheat from Russia on January 20, 2020. 

 

Rice/Other

• China sold 19,644 tons of 2014-2015 rice out of auction at
  1,922 yuan per ton.
• China sold 878 tons of 2016-2018 rice out of auction at 2,300 yuan
  per ton.
• Syria seeks 45,000 tons of white rice on Jan. 6, 2020.  (Reuters)
  Short grain white rice of third or fourth class was sought. No specific country of origin was specified in the tender, traders said.  Some 25,000 tons was sought for supply 90 days after confirmation of the order and 20,000 tons 180 days after supply of the
  first consignment.  The rice was sought packed in bags and offers should be submitted in euros.  A previous tender from the agency for 45,000 tons of rice with similar conditions had closed on
  Nov. 13.
• South Korea seeks another 30,764 tons of rice on Jan 7 for Sep-Oct
  arrival. 

Details of the new tender are as follows:

    TONNES(M/T)  GRAIN TYPE      ARRIVAL/PORT

        20,000   Brown Medium    Sept.1-Oct.31,2020/Busan

        10,764   Brown Medium    Sept.1-Oct.31,2020/Gwangyang

 

U.S. EXPORT SALES FOR WEEK ENDING 12/26/2019

	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	107.3	1,489.4	1,879.4	107.1	5,419.2	3,673.4	0.0	0.0
SRW	11.2	560.1	860.2	8.8	1,532.0	1,377.0	0.4	4.5
HRS	86.9	1,363.1	1,633.7	109.4	3,930.4	3,857.3	0.0	4.8
WHITE	84.3	1,123.8	1,159.3	64.3	2,646.2	2,917.4	0.0	0.0
DURUM	23.3	169.1	90.6	49.8	621.3	329.3	20.0	61.0
TOTAL	312.9	4,705.5	5,623.3	339.3	14,149.1	12,154.4	20.4	70.3
BARLEY	0.0	30.2	31.5	1.3	28.7	26.8	0.0	0.0
CORN	531.4	9,979.6	13,226.0	447.5	8,375.0	18,601.6	8.6	815.6
SORGHUM	0.4	569.9	136.9	23.9	517.4	327.8	0.0	0.0
SOYBEANS	330.3	8,570.8	14,037.2	1,076.4	20,920.8	16,943.9	1.7	180.1
SOY MEAL	94.7	2,915.6	3,935.8	201.1	2,623.0	2,849.1	1.5	87.3
SOY OIL	-1.9	154.9	220.5	29.9	270.8	183.2	0.0	0.5
RICE
L G RGH	33.9	361.7	222.9	0.6	619.0	564.4	0.0	0.0
M S RGH	0.0	15.4	4.5	0.0	15.4	23.1	0.0	0.0
L G BRN	0.1	22.0	5.2	0.5	18.3	24.6	0.0	0.0
M&S BR	0.1	48.0	28.8	4.3	11.1	43.3	0.0	0.0
L G MLD	1.0	179.7	145.2	14.6	458.8	367.2	0.0	0.0
M S MLD	11.0	152.9	207.2	8.6	247.6	188.5	0.0	0.0
TOTAL	45.9	779.7	613.9	28.7	1,370.2	1,211.1	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	246.2	7,549.0	7,187.2	224.5	3,925.5	3,391.8	19.4	997.5
PIMA	15.3	181.5	304.8	6.3	167.1	156.4	0.9	35.3

 

 

Export Sales Highlights  

 

This summary is based on reports from exporters for the period December 20-26, 2019.

 

Wheat:  Net sales of 312,900 metric tons for 2019/2020 were down 56 percent from the previous week and 46 percent from the prior 4-week average.  Increases primarily for Indonesia (71,100 MT, including
decreases of 200 MT), Mexico (61,200 MT, including decreases of 100 MT), Yemen (50,000 MT), Italy (48,300 MT, including 25,000 MT switched from unknown destinations), and Malaysia (29,500 MT, switched from unknown destinations), were offset by reductions for
El Salvador (6,600 MT) and unknown destinations (6,500 MT).  For 2020/2021, net sales of 20,400 MT were reported for Italy (20,000 MT) and Nicaragua (400 MT).  Exports of 339,300 MT were down 33 percent from the previous week and 18 percent from the prior
4-week average.  The destinations were primarily to Japan (80,900 MT), Indonesia (74,100 MT), South Korea (55,000 MT), Italy (49,800 MT), and Taiwan (42,700 MT).   Optional Origin Sales:    For 2019/2020, the current outstanding balance of 56,000 MT is for
the Philippines.

 

Corn:  Net sales of 531,400 metric tons for 2019/2020 were down 15 percent from the previous week and 43 percent from the prior 4-week average.  Increases primarily for Mexico (237,700 MT, including
decreases of 600 MT), Japan (172,100 MT, including 63,800 MT switched from unknown destinations and decreases of 300 MT), Colombia (66,600 MT, including 44,800 MT switched from unknown destinations and decreases of 1,500 MT), the Dominican Republic (22,700
MT, including decreases of 1,300 MT), and Jamaica (16,900 MT), were offset by reductions for Guatemala (1,500 MT).   For 2020/2021, total net sales of 8,600 MT were for Japan.  Exports of 447,500 MT were up 35 percent from the previous week, but down 14 percent
from the prior 4-week average.  The destinations were primarily to Mexico (166,600 MT), Japan (134,700 MT), Colombia (69,200 MT), Guatemala (25,600 MT), and the Dominican Republic (13,700 MT).     Optional Origin Sales:    For 2019/2020, decreases totaling
10,000 MT were reported for Israel.  The current outstanding balance of 496,900 MT is for South Korea (388,000 MT), Israel (50,000 MT), and Egypt (58,900 MT).  

 

Barley: No net sales for 2019/2020 were reported for the week.  Exports of 1,300 MT were up 74 percent from the previous week and 56 percent from the prior 4-week average.  The destination was Japan.

 

Sorghum:  Net sales of 400 MT for 2019/2020 were reported for Mexico.  Exports of 23,900 MT were up 84 percent from the previous week and 76 percent from the prior 4-week average.  The destination
was Mexico.  

 

Rice:   Net sales of 45,900 MT for 2019/2020 were down 26 percent from the previous week and 4 percent from the prior 4-week average.  Increases were primarily for Nicaragua (15,00 MT), Venezuela
(10,000 MT), Panama (6,300 MT), Mexico (4,900 MT, including decreases of 300 MT), and Guatemala (4,400 MT).   Exports of 28,700 MT were down 73 percent from the previous week and 63 percent from the prior 4-week average.  The destinations were primarily to
Guatemala (12,000 MT), Japan (5,800 MT), South Korea (4,100 MT), Saudi Arabia (1,700 MT), and Jordan (1,700 MT).   Exports for Own Account:  For 2019/2020, the current exports for own account outstanding balance is 200 MT, all Canada.

 

Soybeans:  Net sales of 330,300 MT for 2019/2020–a marketing-year low–were down 55 percent from the previous week and 66 percent from the prior 4-week average.  Increases were primarily for China
(160,200 MT, including 132,000 MT switched from unknown destinations), Bangladesh (112,300 MT, including 60,000 MT switched from unknown destinations and decreases of 7,200 MT), Vietnam (84,600 MT, including 70,00 MT switched from unknown destinations), Spain
(66,600 MT), and Japan (35,600 MT, including 26,800 MT switched from unknown destinations and decreases of 1,900 MT), were offset by reductions primarily for unknown destinations (202,900 MT).  For 2020/2021, total net sales of 1,700 MT were for Japan.  Exports
of 1,076,400 MT were up 7 percent from the previous week, but down 20 percent from the prior 4-week average.  The destinations were primarily to China (418,900 MT), Bangladesh (112,300 MT), Mexico (109,300 MT), Vietnam (77,400 MT), and Pakistan (68,300 MT).
   Exports for Own Account:  For 2019/2020, the current exports for own account outstanding balance is 2,100 MT, all Canada.

 

Soybean Cake and Meal:    Net sales of 94,700 MT for 2019/2020 were down 31 percent from the previous week and 41 percent from the prior 4-week average.  Increases primarily for Mexico (33,900 MT),
Venezuela (15,000 MT), Morocco (15,000 MT), Colombia (6,600 MT), and Nepal (6,600 MT), were offset by reductions primarily for Ecuador (5,500 MT) and Oman (400 MT).  For 2020/2021, total net sales of 1,500 MT were for Mexico.  Exports of 201,100 MT were primarily
to the Philippines (45,200 MT), Peru (30,100 MT), Colombia (29,700 MT), Mexico (25,100 MT), and the Dominican Republic (15,700 MT).

 

Soybean Oil:  Net sales reductions of 1,900 MT for 2019/2020 resulting in increases primarily for Mexico (2,500 MT), the Dominican Republic (1,500 MT), Morocco (1,000 MT), and Canada (100 MT), were
more than offset by decreases for unknown destinations (7,000 MT).  Exports of 29,900 MT were to Colombia (20,200 MT), Mexico (5,400 MT), Jamaica (3,500 MT), and Trinidad (800 MT).   

 

Cotton:  Net sales of 246,200 RB for 2019/2020 were up 82 percent from the previous week and 19 percent from the prior 4-week average.  Increases primarily for Vietnam (114,300 RB, including 1,500
RB switched from South Korea, 1,300 RB switched from Hong Kong, and 800 RB switched from Japan), Turkey (36,100 RB), Pakistan (32,800 RB), Malaysia (16,200 RB), and Bangladesh (13,600 RB, including decreases of 8,800 RB),  were offset by reductions for Japan
(2,100 RB) and Hong Kong (1,300 RB).  For 2020/2021, net sales of 19,400 RB were primarily for Vietnam (13,200 RB) and Bangladesh (6,000 RB).   Exports of 224,500 RB were up 11 percent from the previous week and 17 percent from the prior 4-week average.  
Exports were primarily to Pakistan (42,100 RB), Vietnam (41,100 RB), China (36,000 RB), Bangladesh (22,700 RB), and Indonesia (20,800 RB).  Net sales of Pima totaling 15,300 RB were down 21 percent from the previous week, but up 39 percent from the prior 4-week
average.  Increases were primarily for India (5,400 RB, including decreases of 300 RB), Bahrain (2,600 RB), Turkey (2,200 RB), Bangladesh (2,000 RB), and Pakistan (1,300 RB), were offset by reductions for Japan (200 RB).  For 2020/2021, total net sales of
900 RB were for Bahrain.  Exports of 6,300 RB were down 26 percent from the previous week and 29 percent from the prior 4-week average.  The primary destinations were India (1,500 RB), China (1,400 RB), Pakistan (1,400 RB), Indonesia (1,000 RB), and Turkey
(500 RB).  Exports for Own account:  For 2019/2020, new exports for own account totaling 200 RB were to Indonesia.  Exports for own account totaling 2,800 RB to China (1,300 RB), Egypt (1,300 RB), and Indonesia (200 RB) were applied to new or outstanding sales. 
Decreases were reported for India (200 RB).  The current exports for own account outstanding balance of 15,500 RB is for India (8,700 RB), Bangladesh (4,300 RB), and China (2,500 RB).   

 

Hides and Skins: Net sales of 272,300 pieces reported for 2019 were down 5 percent from the previous week and 27 percent from the prior 4-week average.  Whole cattle hide sales totaling 271,000 pieces
primarily for China (213,400 pieces, including decreases of 24,700 pieces), South Korea (37,200 pieces, including decreases of 4,900 pieces), Thailand (12,100 pieces, including decreases of 600 pieces), Mexico (5,700 pieces), and Japan (2,000 pieces, including
decreases of 100 pieces), were offset by reductions for Brazil (400 pieces).  For 2020, net sales of 91,700 pieces primarily for China (57,100 pieces), Indonesia (27,200 pieces), and Taiwan (6,200 pieces), were offset by reductions for Thailand (700 pieces). 
Exports of 349,300 pieces reported for 2019 were up 13 percent from the previous week, but down 21 percent from the prior 4-week average.   Whole cattle hide exports of 346,600 pieces were primarily to China (223,800 pieces), South Korea (81,100 pieces), Thailand
(15,900 pieces), Mexico (10,900 pieces), and Brazil (6,800 pieces).

 

Net sales of 208,000 wet blues for 2019 were up noticeably from the previous week and  from the prior 4-week average.  Increases were primarily for Vietnam (93,400 unsplit), China (68,600 unsplit
and 12,300 grain splits), Thailand (10,500 unsplit and 3,000 grain splits), and Italy (7,500 unsplit and 1,900 grain splits).  For 2020, net sales of 77,100 wet blues were primarily for Thailand (20,000 unsplit, including decreases of 3,200 grain splits),
Italy (19,900 grain splits, including decreases of 1,400 unsplit), Brazil (19,800 grain splits, including decreases of 1,100 unsplit), and Taiwan (19,600 unsplit).  Exports of 137,100 wet blues for 2019 were down up 24 percent from the previous week and 22
percent from the prior 4-week average.  The primary destinations were China (48,800 unsplit and 15,200 grain splits), Vietnam (45,900 unsplit), Thailand (13,900 unsplit), and Italy (6,400 unsplit and 1,900 grain splits).   Total net sales of splits, 121,500
pounds for 2019, were for Vietnam.  For 2020, total net sales reductions of 12,800 pounds were for Vietnam.  Exports of 401,900 pounds were to Vietnam.

 

Beef:   Net sales of 3,700 MT reported for 2019 were down 42 percent from the previous week and 45 percent from the prior 4-week average.  Increases primarily for Japan (1,600 MT, including decreases
of 200 MT), Mexico (500 MT, including decreases of 100 MT), Canada (300 MT), Taiwan (200 MT, including decreases of 100 MT), and Hong Kong (200 MT, including decreases of 100 MT), were offset by reductions primarily for South Korea (200 MT).  For 2020, net
sales of 5,700 MT were primarily for Taiwan (2,100 MT), Japan (1,800 MT), South Korea (600 MT), Mexico (400 MT), and Hong Kong (300 MT).  Exports of 12,600 MT were down 21 percent from the previous week and 23 percent from the prior 4-week average.  The destinations
were primarily to Japan (3,900 MT), South Korea (3,200 MT), Mexico (1,500 MT), Taiwan (1,100 MT), and Hong Kong (1,000 MT).

 

Pork:  Net sales of 3,300 MT reported for 2019–a marketing-year low–were down 80 percent from the previous week and 87 percent from the prior 4-week average.  Increases primarily for Mexico (9,600
MT), Japan (1,800 MT), South Korea (1,500 MT), Nicaragua (1,000 MT), and Chile (700 MT), were more than offset by reductions primarily for China (13,300 MT) and Colombia (200 MT).  For 2020, net sales of 24,100 MT were primarily for Mexico (10,400 MT), China
(9,700 MT), Australia (2,700 MT), Japan (2,400 MT), and Canada (600 MT), were offset by reductions primarily for South Korea (2,100 MT) and Chile (100 MT).  Exports of 30,600 MT were down 24 percent from the previous week and 19 percent from the prior 4-week
average.  The primary destinations were to China (10,400 MT), Mexico (9,200 MT), Japan (3,500 MT), South Korea (2,800 MT), and Canada (1,300 MT).