FW: FI Morning Grain Comments 01/10/20

PDF attached

 

Morning. 
MPOB Malaysian palm S&D was bullish and China CASDE neutral. USDA export sales were flat out poor and one of the worst reports I have seen in a while. USDA weekly export commitments were a marketing year low for wheat, corn, rice, and soybean meal. 

 

 

 

 

 

 

 

 

Reuters
Estimates

 

 

 

 

 

Source:
Reuters and FI

 

Weather

 

MARKET
WEATHER MENTALITY FOR CORN AND SOYBEANS: 

Weather
conditions in many Brazil and Argentina crop areas will be favorable over the next two weeks, although a close watch on the rain distribution is warranted. A few pockets could be a little too dry. Rio Grande do Sul will get some relief from dryness over the
coming week with northern soybeans benefiting more than southern corn or rice production areas. Paraguay will receive additional rain periodically over the coming week to further improve soil and crop conditions. The same is expected over all neighboring areas.

Parts
of Argentina’s north need timely rainfall and will get some over the coming week to ten days.

            South
Africa summer crop conditions should be largely beneficial over the next couple of weeks. Australia weather will continue hot and too dry for crop changes, although it would not be surprising to see some rain in eastern parts of the nation later this month.

            India’s
winter crops are in very good condition and should remain that way for the next two weeks. Summer crop harvesting in the south will continue around brief periods of rain.

            China
rapeseed conditions will have potential for improvement in the spring after this week’s storm system brought significant moisture to the production region. A follow up storm system will see to it the region is plenty moist in the spring.

            Southern
Europe and the southwestern parts of the CIS will be dry biased for a while, but winter crops are dormant or semi-dormant and will not be bothered. A boost in precipitation will be needed in the late winter prior to the start of spring growth.

            Overall,
weather today will likely provide a mixed influence on market mentality with a slight bearish bias prevailing.

 

MARKET
WEATHER MENTALITY FOR WHEAT: 

Winter
crop conditions around the world are either in fair to good condition or poised for improvement. Recent moisture in the United States will be good for spring crop development. Snow is accumulating in the northwestern U.S. Plains before bitter cold conditions
evolve in the next week to ten days to prevent winterkill.

Portions
of Ukraine, southern Russia and Kazakhstan are still snow free and some winter crops are not well established due to dryness and change is needed by spring to improve crops. 

            There
is no risk of crop threatening cold in Russia, Europe or most of China’s key winter crop production areas for the coming week to ten days. Winter crops are not as well established as they should be in some areas of southeastern Europe locations or in parts
of China, but recent rain and snow in eastern China will see to it that big improvements occur prior to the start of aggressive crop development in the spring.

India’s
winter crops are poised to perform quite well this year and rain in Pakistan Sunday into Monday will improve the outlook there as well.

            Dryness
in northern Africa will be closely monitored with Morocco the only area at risk of lower production today but drying in northwestern Algeria will continue for a while.

            Overall,
weather today will likely produce a mixed influence on market mentality.

Source:
World Weather Inc. and FI

 

Source:
World Weather Inc. and FI

 

Source:
World Weather Inc. and FI

 

Bloomberg
Ag Calendar

FRIDAY,
JAN. 10:

• China
  CASDE
• USDA
  weekly crop net-export sales for corn, soybeans, wheat, 8:30am
• 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

MONDAY,
JAN. 13:

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

TUESDAY,
JAN. 14:

• China
  Soybean import data
• Malaysian
  Cocoa Board releases 4Q 2019 cocoa grinding data
• EARNINGS:
  Suedzucker, Agrana

WEDNESDAY,
JAN. 15:

• New
  Zealand Food Prices
• FranceAgriMer’s
  monthly cereals press conference
• Intertek,
  AmSpec and SGS release Malaysia’s Jan. 1-15 palm oil shipment data

THURSDAY,
JAN. 16:

• USDA
  weekly crop net-export sales for corn, soybeans, wheat, 8:30am
• Port
  of Rouen data on French grain exports
• Brazil
  crop agency Conab may release 1st report on 2020 coffee crop, Sao Paulo
• MPOB
  Palm Oil Review & Outlook Seminar, Kuala Lumpur
• AB
  Foods trading update

FRIDAY,
JAN. 17:

• 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
• European
  cocoa grindings data for Q4 2019
• Cocoa
  Association of Asia releases 4Q cocoa grinding data

Source:
Bloomberg and FI

 

 

 

 

Bloomberg
Bull/Bear survey

·        
Soybeans: Bullish: 10 Bearish: 9 Neutral: 5

·        
Corn: Bullish: 9 Bearish: 4 Neutral: 11

·        
Wheat: Bullish: 6 Bearish: 10 Neutral: 8

·        
Raw sugar: Bullish: 2 Bearish: 1 Neutral: 4

·        
White sugar: Bullish: 4 Bearish: 0 Neutral: 3

·        
White-sugar premium: Bullish: 5 Bearish: 0 Neutral: 2

 

 

 

 

 

 

 

 

 

Macros.

US
Change In Nonfarm Payrolls Dec: 145K (exp 160K; R prev 256K)

–         
Unemployment Rate Dec: 3.5% (exp 3.5%; prev 3.5%)

US
Average Hourly Earnings (M/M) Dec: 0.1% (exp 0.3%; R prev 0.3%)

–         
Average Hourly Earnings (Y/Y) Dec: 2.9% (exp 3.1%; prev 3.1%)

–         
Labour Force Participation Rate Dec: 63.2% (prev 63.2%)

US
Change In Private Payrolls Dec: 139K (exp 153K; R prev 243K)

–         
Change In Manufacturing Payrolls Dec: -12K (exp 5K; R prev 58K)

Canadian
Net Change In Employment Dec: 35.2K (exp 25.0K; prev -71.2K)

–         
Unemployment Rate Dec: 5.6% (exp 5.8%; prev 5.9%)

–         
Participation Rate Dec: 65.5% (exp 65.6; prev 65.6)

 

 

Corn.

·        
Corn futures are mixed.  USDA export sales were poor. There is no lead from the China CASDE report and South America picked up on light rain.

·        
March corn resistance is seen at $3.8725, then $3.9100. 

·        
We heard South Korea was in for 4 cargoes of corn but saw only one confirmed.

·        
Gold was down about $4.50 as of 8:03 am CT and Dow futures up 33 points. 

·        
USD was 5 points higher as of 8:03 am CT and WTI down 40. 

·        
Traders will be watching the phase one trade signing in Washington next week. 

·        
USDA is set to release their annual crop production report later.  U.S. corn production seen 159m bu lower, yields seen a point lower at 166 bu/acre. Dec. 1 corn stocks seen at 11.47b bu, 465m less than in
Dec. 2018.

·        
Agroconsult sees the 2019-20 Brazil corn area up 2 percent to 17.8 million hectares, and production at 101.6 million tons, down 1.3 percent from previous year. 

 

Export
Developments

• South
  Korea’s KFA bought 68,000 tons of corn at around $209.95 a ton c&f for arrival around April 5.
  • Thursday:
    South Korea’s NOFI bought 69,000 tons of optional origin corn at $211.95/ton c&f for arrival around April 15. 
    
  • Thursday:
    South Korea’s FLC bought 66,000 tons of US corn at $207.49/ton c&f for shipment between Jan. 25 and Feb. 25 from the U.S. Pacific Northwest coast. 
    
  • Wed:
    South Korea’s KOCOPIA bought 60,000 tons of corn at $218.28/ton c&f for arrival in March. 
    
• Revised:
  India’s MMTC delayed their import tender for 175,000 tons (50k previously) of non-GMO corn from Jan 7 to January
  14,
  valid until January 22, for shipment by February 10. Another source put shipment by Jan 22. 
  

 

Soybean
complex.

·        
Soybeans are
mixed.  Southern Brazil and parts of Argentina saw rain. China’s CASDE was neutral, MPOB palm data supportive for global vegetable oils, and USDA export sales poor.  CBOT products are slightly higher. 

·        
March soybeans resistance is seen at $9.50, then $9.5550.

·        
There is talk China bought at least 12 cargos of Brazilian soybeans this week. 

·        
There were no surprises in China’s CASDE report. 

·        
USDA is set to release their annual crop production report on later.  US Soybean ending stocks seen down 44m bu to 431m. Soybean production seen down 37m bu, yield seen at 46.5 bu/acre vs 46.9. Dec. 1 soybean
stocks seen at 3.19b bu, 555m less than in Dec. 2018.

·        
Offshore values are leading CBOT soybean oil 15 points higher (115 higher for the week to date) and meal $0.40 higher ($0.50 higher for the week to date).   

·        
Rotterdam vegetable oils this morning were up 8 euros for nearby soybean oil positions and 4 euros higher for rapeseed oil. Rotterdam meal when imported from SA were mostly 1-3 euros higher. 

·        
China cash crush was last 133 cents per bushel (137 previous), compared to 145 on Friday and 24 cents year ago. 

·        
China:

·        
SGS reported exports of Malaysian palm oil during the January 1 – 10 period up 21.6 percent to 457,837 tons from 376,659 tons during the same period a year. ITS reported exports of Malaysian palm oil during
the January 1 – 10 period up 30 percent to 468,871 tons from 361,220 tons during the same period a year. AmSpec reported shipments up 10 percent at 455,592 tons. 

·        
MPOB reported bullish S&D data.  Malaysian palm stocks fell to a 27-month low at2.01 million tons.  Exports (1.4MMT) exceeded expectations and were higher than what Malaysia produced (down 13% mom to 1.33
million tons). 

·        
Malaysian palm markets:
 

·        
Conab will revise its 2018-19 soybean supply and demand.  They are using 77.9 million tons for 2019 soybean exports.  In December they had penciled in 70 million tons for crop-year 2018-19. 

 

Oilseeds
Export Developments

• We
  heard a couple Brazil soybean cargos were sold to China over the past day. 
  

 

 

Wheat

·        
US wheat futures are
mostly higher on follow through buying although USDA export sales were poor and that is putting some pressure on Chicago futures. 

·        
Upside in wheat is seen limited with prices near 6-month highs unless USDA surprises the trade later. 

·        
Chicago March resistance is now seen at $5.6875.

·        
Traders are looking for about a 100 year low in US winter wheat seedings, US ending stocks to decline, and world ending stocks to tick down about 2 million tons. 
U.S.
2020 winter wheat planting are seen at 30.64m acres vs 31.16m in 2019.

·        
March Paris wheat futures earlier were down at 191.25 euros as of early this morning.

·        
The European Union granted import licenses for 58,467 tons of wheat under its annual tariff-rate quotas (TRQ).  Most of it is of Ukraine origin. 

·        
It’s going to get cold across the northern Great Plains this weekend, exposing some uncovered wheat. 

 

 

Export
Developments.

• Thailand
  earlier this week bought 55,000 tons of US wheat for shipment in April-May.  Soft white wheat was bought at around $263-$266 a ton, white wheat at around $275 a ton, hard winter wheat at about $263-$265 a ton and spring wheat with 14.5 protein at $295-$300
  a ton. (Reuters)
• Taiwan Flour Millers’ Association
  seeks 99,075 tons of grade 1 milling wheat from the United States on Jan. 16 for March 10 and March 24 shipment and March 26 and April 9 shipment. 
  
• Mauritius
  cancelled an import tender for 95,000 tons of optional origin wheat flour 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. 
  
• Jordan
  seeks 120,000 tons of wheat on January 14.
• Turkey
  seeks 100,000 tons of durum wheat on January 14 for Jan 25-Feb 25 shipment.
  
• Japan
  seeks 120,000 tons of feed wheat and 200,000 tons of feed barley on January 15 for arrival by March 19. 
  

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

• Results are awaited on
  Ethiopia in for 80,000 tons of durum wheat and another 75,000 tons of soft wheat.
  

 

Rice/Other

• Malaysia seeks up to 40,000 tons of rice from Pakistan
  for shipment in January and February.
• China sold 34,078 tons
  of 2014-2015 rice or 12.07% from what was offered at an average price of 1,940 yuan per ton. 
  
• China sold 34,078 tons
  of 2016-2018 rice or 0.22% from what was offered at an average price of 2,300 yuan per ton. 
  
• Results awaited: 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.

U.S. EXPORT SALES FOR WEEK ENDING 1/2/2020

	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	35.7	1,439.8	1,808.2	85.3	5,504.5	3,770.6	0.0	0.0
SRW	8.4	525.7	886.1	42.8	1,574.8	1,391.0	0.0	4.5
HRS	4.6	1,205.3	1,511.3	162.4	4,092.0	3,992.9	40.0	44.8
WHITE	11.7	1,075.7	1,167.2	59.8	2,706.0	2,961.6	10.0	10.0
DURUM	20.1	187.1	89.9	2.1	623.4	330.0	0.0	61.0
TOTAL	80.6	4,433.6	5,462.7	352.4	14,500.6	12,446.1	50.0	120.3
BARLEY	0.0	30.2	30.9	0.0	28.7	27.4	0.0	0.0
CORN	161.9	9,626.9	13,020.8	514.6	8,889.6	19,266.6	0.0	815.6
SORGHUM	20.1	514.7	119.2	75.2	592.6	357.4	0.0	0.0
SOYBEANS	355.5	7,807.5	12,517.3	1,118.8	21,963.8	17,851.9	3.4	183.5
SOY MEAL	74.2	2,841.8	3,936.1	148.1	2,771.1	2,973.6	0.0	87.3
SOY OIL	2.6	120.8	210.7	36.7	307.5	195.2	0.0	0.5
RICE
L G RGH	3.2	308.8	222.9	56.1	675.1	564.4	0.0	0.0
M S RGH	0.0	15.3	4.5	0.1	15.5	23.1	0.0	0.0
L G BRN	0.3	21.0	5.2	1.3	19.6	24.7	0.0	0.0
M&S BR	0.1	43.9	95.2	4.2	15.3	45.3	0.0	0.0
L G MLD	10.0	148.0	141.8	41.8	500.6	371.8	0.0	0.0
M S MLD	21.8	167.1	217.3	7.6	255.2	191.2	0.0	0.0
TOTAL	35.4	704.1	687.0	111.0	1,481.2	1,220.5	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	152.0	7,489.6	7,305.9	211.4	4,136.9	3,572.9	5.5	1,003.0
PIMA	5.2	181.2	294.6	5.4	172.5	172.6	0.0	35.3

 

 

Export Sales Highlights   

This summary is based on reports from exporters for the period December 27–January 2, 2020.

 

Wheat:  Net sales of 80,600 metric tons for 2019/2020–a marketing-year low–were down 74 percent from the previous week and
87 percent from the prior 4-week average.  Increases primarily for Nigeria (45,500 MT, including 24,500 MT switched from unknown destinations and decreases of 1,500 MT), Mexico (20,100 MT, including decreases of 2,800 MT), Italy (20,000 MT), Indonesia (17,800
MT, including 19,000 MT switched from unknown destinations and decreases of 1,200 MT), and the Philippines (10,300 MT), were offset by reductions primarily for unknown destinations (70,000 MT).  For 2020/2021, total net sales of 50,000 MT were for the Philippines. 
Exports of 352,400 MT were up 4 percent from the previous week, but down 20 percent from the prior 4-week average.  The destinations were primarily to Nigeria (74,000 MT), the Philippines (64,300 MT), Taiwan (51,300 MT), Malaysia (36,400 MT), and Panama (25,200
MT). 

Optional Origin Sales:  For 2019/2020, the current outstanding balance of 56,000 MT is for the Philippines.   

Export Adjustments:
Accumulated exports of hard red spring wheat to Mexico were adjusted down 340 MT for week ending December 19^th and 476 MT for week ending December 26^th.  These exports were reported
in error. 

 

Corn:  Net sales of 161,900 metric tons for 2019/2020–a marketing-year low-were down 70 percent from the previous week and
83 percent from the prior 4-week average.  Increases primarily for unknown destinations (89,700 MT), Japan (61,400 MT, including 40,900 MT switched from unknown destinations and decreases of 7,600 MT), Colombia (21,800 MT, including decreases of 4,200 MT),
El Salvador (15,900 MT, including 1,900 MT switched from Guatemala), and Honduras (7,100 MT), were offset by reductions primarily for Mexico (41,500 MT).  Exports of 514,600 MT were up 15 percent from the previous week and 1 percent from the prior 4-week average. 
The destinations were primarily to Mexico (265,400 MT), Japan (89,800 MT), Colombia (82,400 MT), Canada (25,100 MT), and Honduras (23,700 MT).   

Optional Origin Sales:  For 2019/2020, options were exercised to export 128,000 MT to South Korea from othe than the United States.  The current outstanding balance of 368,900 MT is for South Korea
(260,000 MT), Egypt (58,900 MT), and Israel (50,000 MT).

 

Barley: No net sales or exports for 2019/2020 were reported during the week. 

 

Sorghum:  Net sales of 20,100 MT for 2019/2020 were primarily for Mexico (11,400 MT) and unknown destinations (5,000 MT). 
Exports of 75,200 MT were up noticeably from the previous week and up 9 percent from the prior 4-week average.  The destinations were China (63,600 MT) and Mexico (11,600 MT). 

 

Rice: 
Net sales of 35,400 MT for 2019/2020–a marketing-year low–were down 23 percent from the previous week and 27 percent from the prior 4-week average.  Increases were primarily for South Korea (17,000
MT), Saudi Arabia (9,500 MT), Mexico (4,000 MT), Canada (1,700 MT), and Jordan (1,300 MT). 
Exports of 111,000 MT were up noticeably from the previous week and up 51 percent from the prior 4-week average.  The destinations were primarily to Mexico (47,400 MT), Haiti (30,500 MT), Saudi Arabia (10,100
MT), Guatemala (9,500 MT), and South Korea (4,100 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 355,500 MT for 2019/2020 were up 8 percent from the previous week, but down 59 percent from the prior
4-week average.  Increases were primarily for Indonesia (78,600 MT, including 68,000 MT switched from unknown destinations and decreases of 100 MT), Germany (75,800 MT), China (74,700 MT, including 66,000 MT switched from unknown destinations), the Netherlands
(67,200 MT, including 60,000 MT switched from unknown destinations), and South Korea (58,700 MT, including 55,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (73,000 MT), Taiwan (500 MT), Pakistan (400 MT), and
Malaysia (200 MT).  For 2020/2021, total net sales of 3,400 MT were for Japan.  Exports of 1,118,800 MT were up 4 percent from the previous week, but down 8 percent from the prior 4-week average.  The destinations were primarily to China (353,800 MT), Egypt
(128,500 MT), Mexico (102,500 MT), Indonesia (98,100 MT), and Germany (75,800 MT). 

Exports for Own Account:  For 2019/2020, the current exports for own account outstanding balance is 2,100 MT, all Canada.

Export Adjustments: Accumulated exports of soybeans to the Netherland were adjusted down 75,789 MT for week ending December 19^th. 
The correct destination is Germany and is included in this week’s report.

Soybean Cake and Meal:  Net sales of 74,200 MT for 2019/2020–a marketing-year low–were down 22 percent from the previous week and 47 percent from the prior 4-week average.  Increases primarily
for Ecuador (35,500 MT), Canada (7,400 MT, including decreases of 1,800 MT), unknown destinations (6,000 MT), Honduras (4,600 MT), and the Philippines (4,100 MT), were offset by reductions for Guatemala (900 MT) and Japan (200 MT).  Exports of 148,100 MT were
primarily to the Dominican Republic (35,600 MT), Mexico (35,100 MT), Canada (23,100 MT), Colombia (13,000 MT), and Guatemala (12,400 MT).

 

Soybean Oil: 
Net sales of 2,600 MT for 2019/2020 were reported for Mexico (2,300 MT) and Colombia (300 MT).  Exports of 36,700 MT were primarily to Morocco (21,000 MT), Colombia (6,800 MT), Mexico (4,500 MT), and the Dominican
Republic (4,200 MT). 

 

Cotton:  Net sales of 152,000 RB for 2019/2020 were down 38 percent from the previous week and 33 percent from the prior 4-week
average.  Increases primarily for Vietnam (97,600 RB, including 6,900 RB switched from Hong Kong, 2,100 RB switched from South Korea, 300 RB switched from Japan, and decreases of 1,500 RB), Pakistan (24,400 RB), Turkey (19,000 RB), South Korea (15,700 RB,
including decreases of 200 RB), and Bangladesh (12,800 RB, including decreases of 600 RB), were offset by reductions primarily for India (18,000 RB), Hong Kong (6,900 RB), and Nicaragua (3,900 RB).  For 2020/2021, net sales of 5,500 RB were for Turkey (4,400
RB) and Vietnam (1,100 RB).  Exports of 211,400 RB were down 6 percent from the previous week, but up 2 percent from the prior 4-week average.  Exports were primarily to Pakistan (58,900 RB), Vietnam (54,000 RB), China (34,000 RB), Indonesia (12,600 RB), and
Turkey (11,000 RB).  Net sales of Pima totaling 5,200 RB were down 66 percent from the previous week and 62 percent from the prior 4-week average.  Increases were primarily for Pakistan (1,700 RB), India (1,600 RB), Vietnam (900 RB), Greece (700 RB), and Turkey
(200 RB).  Exports of 5,400 RB were down 13 percent from the previous week and 37 percent from the prior 4-week average.  The primary destinations were Peru (2,000 RB), India (1,800 RB), Turkey (1,300 RB), and Thailand (200 RB). 

Exports for Own account:  For 2019/2020, new exports for own account totaling 7,200 RB were primarily to Vietnam (5,100 RB). 
The current exports for own account outstanding balance of 22,800 RB is for India (8,700 RB), Bangladesh (6,500 RB), Vietnam (5,100 RB), and China (2,500 RB).

 

Hides and Skins: Net sales of hides and skins for 2020
totaled 157,200 pieces, primarily for China (86,400 pieces, including decreases of 700 pieces), South Korea (29,900 pieces, including decreases of 500 pieces), Thailand (20,400 pieces), Indonesia (19,800 pieces), and Vietnam (1,900 pieces, including decreases
of 1,200 pieces), were offset by reductions for Italy (1,400 pieces) and Brazil (700 pieces).  Outstanding sales of hides and skins totaled 2,372,700 pieces on
December 31^st and were carried over to 2020.  For 2020, hide and skins exports of 44,300 pieces, were to China (23,200 pieces), South Korea (9,700 pieces), Taiwan (3,600
pieces), and Mexico (2,300 pieces).
Accumulated exports of hides and skins in 2019 totaled, 21,748,100 pieces, up 1 percent from the prior year’s total of 21,457,300 pieces.

 

Net sales of 30,800 wet blues for 2020 were reported.  Increases were reported
for South Korea (14,000 grain splits), Taiwan (12,100 unsplit), Italy (5,700 unsplit), Vietnam (1,600 unsplit), and China (100 grain split including decreases of 2,700 unsplit).  Outstanding sales of 536,800 were remaining on December
31^st
and carried over to 2020.  Exports of 6,000 wet blues were to China (3,800 unsplit), Italy (1,200 unsplit), and Mexico (1,000 unsplit).
Accumulated exports in
2019 totaled 7,266,700 wet blues, up 4 percent from the prior year’s total of
6,976,900 wet blues.
Net sales of splits, 1,000 pounds for 2020 were for China (700 pounds) and Vietnam (300 pounds).  Outstanding sales of splits totaled 1,369,200 pounds on December 31^st were carried over to 2020.  No exports
of splits for 2020 were reported.  Accumulated exports of splits in 2019 totaled 15,552,200 pounds, down 38 percent from the prior year’s total of 25,103,100 pounds.

 

Beef:
Net sales of 8,100 MT for 2020 were primarily for Japan (1,700 MT, including decreases of 200 MT), the Philippines (1,600 MT), South Korea (1,000 MT, including decreases of 100
MT),  Taiwan (1,000 MT, including decreases of 100 MT), and Mexico (900 MT).  Outstanding
sales on December 31^st
totaled 74,600 MT and were carried over to 2020.  Exports of 4,500 MT were primarily
to Japan (1,700 MT), South Korea (1,300 MT), Taiwan (500 MT), Mexico (300 MT), and Hong Kong (200 MT).  Accumulated exports for 2019 totaled 823,500 MT, down 4 percent from the 861,700
MT exported in 2018.

 

Pork:
Net sales of 26,800 MT for 2020 were primarily for China (7,200 MT), Mexico (7,100 MT), South Korea (5,500 MT), Japan (4,100 MT), and Vietnam (1,000 MT).  Outstanding sales on December 31^st totaled
137,400 MT and were carried over to 2020.  Exports of 1,900 MT
were primarily to Mexico (500 MT), China (500 MT), Japan (400 MT), Canada (200 MT), and South Korea (100 MT).  Accumulated exports for 2019 totaled
1,624,300 MT, up 39 percent from the 1,168,800 MT exported in 2018.