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Kansas City | Corn - almost 2 million which is good. Market hasn't really reacted much yet.
Soybeans - Not so great.. market hasn't really reacted yet.
IF we close up today in corn going into a 3 day weekend that would be a really good sign. Keep your eye on the March $3.74(200 day moving average)
I would consider selling old corn and using July to re-own so you don't have to eat the carry and the cost of rolling with your elevator. You can buy a $4 Call for 10-12 cents...it will cost you at least that much to roll at most elevators. If your corn is on farm than you should be fine unless you need the cash flow.
Thanks,
MH
Wheat: Net sales of 311,100 metric tons for delivery in marketing year 2017/2018 were down 21 percent from the previous week and 2 percent from the prior 4-week average. Increases were for Japan (84,800 MT, including decreases of 4,300 MT), Indonesia (83,300 MT, switched from unknown destinations), Taiwan (78,500 MT), Mexico (58,700 MT, including decreases of 25,700 MT), China (33,000 MT), and Guatemala (31,500 MT, switched from unknown destinations). Reductions were reported for unknown destinations (130,500 MT) and South Korea (81,200 MT). For 2018/2019, net sales of 110,800 MT were for South Korea (77,300 MT), Nigeria (20,000 MT), and unknown destinations (13,500 MT). Exports of 489,400 MT were up 5 percent from the previous week and 10 percent from the prior 4-week average. The primary destinations were to Japan (104,600 MT), Mexico (98,400 MT), China (63,000 MT), South Korea (48,400 MT), and Nigeria (45,100 MT).
Corn: Net sales of 1,974,500 MT for 2017/2018 were up 12 percent from the previous week and 14 percent from the prior 4-week average. Increases were reported for Japan (453,300 MT, including 59,000 MT switched from unknown destinations and decreases of 18,300 MT), unknown destinations (432,900 MT), Mexico (258,600 MT, including decreases of 9,800 MT), Colombia (193,800 MT, including 27,500 MT switched from unknown destinations), and Saudi Arabia (140,000 MT). Reductions were reported for Portugal (28,000 MT), Spain (28,000 MT), and Panama (1,100 MT). For 2018/2019, net sales of 97,500 MT were for Japan. Exports of 864,500 MT were down 10 percent from the previous week, but up 7 percent from the prior 4-week average. The destinations were primarily to Japan (293,200 MT), Mexico (239,700 MT), Bangladesh (60,900 MT), the Philippines (58,300 MT), and Colombia (34,500 MT).
Optional Origin Sales: For 2017/2018, new optional origin sales of 50,000 MT were reported for unknown destinations. The current optional origin outstanding balance of 774,500 MT is for South Korea (342,000 MT), unknown destinations (311,500 MT), and Vietnam (121,000 MT).
Barley: No net sales were reported for 2017/2018. For 2018/2019, net sales of 4,000 MT were for Japan. Exports of 600 MT were reported to Japan.
Sorghum: Net sales of 126,900 MT for 2017/2018 were up 73 percent from the previous week, but down 24 percent from the prior 4-week average. Increases were reported for China (116,200 MT) and Japan (10,700 MT). Exports of 130,100 MT were up 4 percent from the previous week, but down 21 percent from the prior 4-week average. The destinations were China (122,300 MT) and Japan (7,700 MT).
Rice: Net sales of 57,000 MT for 2017/2018 were unchanged from the previous week, but up 18 percent from the prior 4-week average. Increases were reported for Haiti (20,100 MT, including decreases of 600 MT), Nicaragua (9,600 MT), Libya (7,800 MT), Canada (5,700 MT), and Japan (4,600 MT). Exports of 55,200 MT were up 67 percent from the previous week and 9 percent from the prior 4-week average. The primary destinations were Haiti (14,300 MT, late reporting), Nicaragua (9,600 MT), Libya (7,800 MT), Mexico (7,500 MT), and Costa Rica (5,400 MT).
Exports for Own Account: The current outstanding balance of 100 MT is for Canada.
Soybeans: Net sales of 640,400 MT for 2017/2018 were down 4 percent from the previous week and 8 percent from the prior 4-week average. Increases were reported for China (156,900 MT, switched from unknown destinations and decreases of 73,300 MT), Mexico (133,400 MT, including decreases of 5,300), the Netherlands (84,400 MT, including 74,000 MT switched from unknown destinations and decreases of 800 MT), Germany (79,300 MT), and Italy (62,700 MT, including 62,000 MT switched from unknown destinations and decreases of 700 MT). Reductions were reported for unknown destinations (159,300 MT). For 2018/2019, net sales of 197,100 MT were reported for unknown destinations (197,000 MT) and Japan (100 MT). Exports of 1,375,300 MT were down 6 percent from the previous week, but up 10 percent from the prior 4-week average. The primary destinations were China (717,600 MT), Mexico (95,700 MT), the Netherlands (84,400 MT), Germany (79,300 MT), and Pakistan (69,600 MT).
Optional Origin Sales: For 2017/2018, the current optional origin outstanding balance is 63,000 MT, all China.
Export for Own Account: The current outstanding balance of 12,200 MT is for Canada.
Export Adjustment: Accumulated exports to the Netherlands were adjusted down 79,298 MT for week ending February 1st. The correct destination is Germany and is included in this week’s report.
Soybean Cake and Meal: Net sales of 210,000 MT for 2017/2018 were up 31 percent from the previous week, but down 26 percent from the prior 4-week average. Increases were reported for Morocco (34,500 MT), Ireland (32,800 MT, including 30,000 MT switched from unknown destinations), Italy (30,000 MT), and Peru (30,000 MT). Reductions were reported for unknown destinations (29,900 MT). Exports of 253,600 MT were down 13 percent from the previous week, but up 8 percent from the prior4-week average. The primary destinations were the Philippines (51,500 MT), Ireland (32,800 MT), Mexico (31,600 MT), and Italy (29,700 MT).
Soybean Oil: Next sales of 24,400 MT were up noticeably from the previous week, but down 8 percent from the prior 4-week average. Increases were reported for South Korea (15,000 MT), Colombia (3,900 MT), Mexico (2,600 MT), the Dominican Republic (2,000 MT), and El Salvador (1,500 MT). Reductions were reported for Canada (600 MT). For 2018/2019, net sales reductions of 800 MT were reported for Canada. Exports of 42,800 MT--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. The primary destinations were South Korea (26,000 MT), Colombia (6,700 MT), Mexico (5,400 MT, including 600 MT late reporting), and Guatemala (4,000 MT).
Cotton: Net sales of 364,800 running bales for 2017/2018 were down 9 percent from the previous week, but up 39 percent from the prior 4-week average. Increases were reported for Turkey (67,700 RB), Vietnam (66,800 RB, including 5,000 RB switched from China and 400 RB switched from Japan), China (56,700 RB, including decreases of 1,600 RB), Bangladesh (55,000 RB), and India (34,000 RB). Reductions were reported for Pakistan (3,100 RB) and Japan (2,000 RB). For 2018/2019, net sales of 131,000 RB were primarily for Indonesia (61,600 RB) and China (48,400 RB). Exports of 324,700 RB were down 25 percent from the previous week, but up 3 percent from the prior 4-week average. The primary destinations were Vietnam (62,800 RB), China (50,500 RB), Turkey (45,900 RB), Pakistan (45,000 RB), and Indonesia (22,800 RB). Net sales of Pima totaling 2,800 RB for 2017/2018 were down 64 percent from the previous week and 67 percent from the prior 4-week average. Increases were reported for India (1,700 RB, including decreases of 400 RB), Japan (700 RB), and China (200 RB). For 2018/2019, net sales reductions of 200 RB were reported for India. Exports of 17,800 RB were down 15 percent from the previous week, but up 12 percent from the prior 4-week average. The primary destinations were China (6,500 RB), Peru (3,800 RB), India (3,700 RB), and Vietnam (2,200 RB).
Optional Origin Sales: For 2017/2018, the current optional origin outstanding balance is 16,500 RB, all Indonesia.
Exports for Own Account: New exports for own account totaling 2,600 RB were reported to Indonesia (2,300 RB) and Turkey (300 RB). Exports to Indonesia (3,100 RB), China (3,000 RB), South Korea (3,000 RB), and Vietnam (2,500 RB) were applied to new or outstanding sales. The current outstanding balance of 21,100 RB is for Indonesia (11,600 RB), China (3,800 RB), Vietnam (3,600 RB), South Korea (1,300 RB), Bangladesh (500 RB), and Turkey (300 RB).
Hides and Skins: Net sales of 284,100 pieces reported for 2018 were up 44 percent from the previous week, but down 7 percent from the prior 4-week average. Whole cattle hide sales totaling 274,300 pieces were primarily for China (142,500 pieces, including decreases of 13,700 pieces), South Korea (49,600 pieces, including decreases of 4,300 pieces), Mexico (36,000 pieces, including decreases of 1,500 pieces), Thailand (33,300 pieces, including decreases of 5,300 pieces), and Taiwan (3,700 pieces, including decreases of 1,700 pieces). Exports of 396,600 pieces reported for 2018 were down 2 percent from the previous week and 3 percent from the prior 4-week average. Whole cattle hide exports of 395,300 pieces were primarily to China (274,300 pieces), South Korea (62,500 pieces), Mexico (27,500 pieces), Thailand (15,500 pieces), and Taiwan (9,100 pieces).
Net sales of 67,800 wet blues for 2018 were down 43 percent from the previous week and 40 percent from the prior 4-week average. Increases were reported for China (33,800 unsplit and 1,900 grain splits), Italy (18,300 unsplit), Mexico (3,300 grain splits and 3,300 unsplit), and Vietnam (6,400 unsplit). Exports of 89,900 wet blues for 2018 were down 33 percent from the previous week and 27 percent from the prior 4-week average. The primary destinations were China (27,500 unsplit and 1,900 grain splits), Italy (20,400 unsplit and 4,900 grain splits), Mexico (9,600 grain splits and 9,100 unsplit), and Thailand (6,200 grain splits and 4,000 unsplit). Net sales of splits totaling 41,200 pounds for 2018 resulted as increases for China (50,000 pounds) and South Korea (35,000 pounds), were partially offset by reductions for Vietnam (43,800 pounds). Exports of 426,600 pounds were down 38 percent from the previous week and 4 percent from the prior 4-week average. The destinations were Vietnam (414,600 pounds) and South Korea (12,000 pounds).
Beef: Net sales of 10,400 MT for 2018 were down 44 percent from the previous week and 52 percent from the prior 4-week average. Increases were reported for Japan (2,400 MT, including decreases of 2,900 MT), Mexico (2,300 MT, including decreases of 100 MT), Hong Kong (1,300 MT, including decreases of 300 MT), Taiwan (1,300 MT, including decreases of 100 MT), and Canada (1,200 MT, including decreases of 100 MT). Exports of 14,700 MT were down 8 percent from the previous week and from the prior 4-week average. The primary destinations were South Korea (4,200 MT), Japan (3,800 MT), Hong Kong (2,100 MT), Mexico (1,900 MT), and Canada (1,000 MT).
Pork: Net sales of 21,300 MT for 2018 were up 68 percent from the previous week, but down 16 percent from the prior 4-week average. Increases were reported for Mexico (6,800 MT), Japan (4,000 MT), South Korea (2,700 MT), Australia (2,400 MT), and Colombia (1,400 MT). Exports of 25,800 MT were up 7 percent from the previous week and 17 percent from the prior 4-week average. The primary destinations were Mexico (7,700 MT), South Korea (4,400 MT), Japan (3,900 MT), China (2,400 MT), and Canada (2,000 MT).
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Export Sales for February 2-8, 2018.
