Mar 12, 2021

U.S. Export Sales Recap

Weekly export sales were not a drag to the market but also did not bring forward any surprise demand

Reminder to Participate in FBN’s Acreage Poll

  • To complete the acreage poll, click here.
  • Thank you to those members who already have completed the poll.
  • There are several reasons why participation is encouraged.
  • First, USDA’s March Prospective Plantings report will be one of the most closely watched reports released by USDA in years.
  • That means there could be big swings in futures values.
  • Second, Our 20,000 FBN farmers are in a unique position to share their acreage intentions for their own benefit, which is a key tenant of FBN’s mission - helping farmers; we want to use your data to benefit you.
  • Finally, results will be provided March 19 in a formal report, several days prior to USDA’s report, giving you time to make pricing decisions.
  • The report will include guidance on any marketing strategies based on the results of the poll as well as our opinions on fundamentals.

FBN’s Take On What It Means: We encourage all members to participate. This will give FBN key insights ahead of USDA’s report on March 31, which likely will be market moving. In essence, the more participation we have the better our results will be and the better positioned you can be ahead of March 31.

FBN
FBN

US Export Sales Recap for the Week Ending March 4

  • Sales were overall within expectations with no total being a big surprise.
  • Old-crop corn sales were around 16 million with new crop sales at 11 million.
  • Old-crop corn sales imply a higher export volume than USDA’s current total but we are a bit tight on supplies and have lost our competitive edge.
  • Soybean sales were a combined 21 million bushels, with 13 million for old crop and 8 million for new.
  • Like corn, the export sales pace to date suggests a larger export total than USDA’s current projection, but also like corn, we have lost our competitive edge and Brazil’s harvest is here.
  • Wheat sales were 12 million bushels; USDA’s latest cut to HRW exports for this crop year is not encouraging but white wheat and HRS sales are solid.
  • China was in for sorghum, buying a cargo of old crop and new crop.

FBN’s Take On What It Means: Weekly export sales were not a drag to the market but also did not bring forward any surprise demand. China’s buying has slowed, which is not too surprising given the seasonality and our lack of holding the competitive edge for now. But, ASF concerns are becoming more widespread. We continue to struggle on the wheat side given the list of competitors.

FBN Market Advisory services are offered by FBN BR LLC, dba FBN Brokerage, FBN BR and FBN Market Advisory (NFA ID: 0508695)

The risk of trading futures and options can be substantial and may not be suitable for all investors. Past performance is not necessarily indicative of future results.

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to, persons residing in Australia and Canada.

Kevin McNew

Recently Added to Buyer's Guide

Bovizyme™ GA Enzyme

  • Enzyme solution that improves starch digestion efficiency for non-steam flaker feed yards
  • Improved feed efficiency through increased bodyweight gain and lower feed intake

VersaMix Triple Shaft Mixers

  • For mixing applications requiring efficient powder dispersion and critical homogenization of medium to high viscosity slurries, pastes, gels, creams and suspensions
  • High-shear mixer with solids/liquid injection manifold (SLIM) technology rotor/stator

GUC-F Controller

  • Multichannel feeding and dosing controller
  • Control solution for feeding and weighing applications in powder handling applications
  • Flexible and modular design with analog and digital load cells

ProFlo

  • Offers accurate and reliable continuous mass flow measurement of bulk solids with an accuracy of +/- 0.5% full scale
  • Measures mass of flowable solids with densities of 10 to 100 pounds/cubic foot and flow rates from 700 to 7,000 cubic feet/hour

Hydro-View

  • 10.1” touchscreen
  • Easy to install in new or existing systems

Sanderson Farms Feed Mill Expansion - Kinston, NC

  • Construction of a whole grain silo expansion (76’ diameter x 145’ tall) to hold 500,000 bushels
  • Expansion also includes a 12’x17’x22’ deep boot pit extension at the end of the existing receiving tunnel

Magazine

Marketwatch: Jan, 23

US Corn Price Idx: ZCPAUS.CM

open: 5.9581
high: 6.0469
low: 5.9312
close: 6.024

US Soybean Price Idx: ZSPAUS.CM

open: 13.7453
high: 13.8187
low: 13.6381
close: 13.7007

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 7.7319
high: 7.8293
low: 7.6894
close: 7.7295

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 7.428
high: 7.503
low: 7.373
close: 7.3929