2021 u.s. and iowa ag exports highlights
TRANSCRIPT
First Quarter 2021
2021 U.S. and Iowa Ag Exports Below is summary export data obtained from WISERTrade on Iowa-focused protein and grain commodities. The report includes year-to-date (YTD) trade data, including projected agriculture adjusted data by state-of-origin/source of commodity for those overseas trade markets from January-March 2021. Highlights
• First Quarter 2021 saw staggering changes in exports for corn and soybeans over 2020. The bullish commodity prices challenged all previous forecasts and had an impact on net dollars exported. Yet, the trade numbers that are reported weeks later confirmed that demand drove the conversation beyond price, year over year.
• For reference: CBOT-July 2021 = $5.47 (3/31/21 close); CBOT-July 2020 = $3.46 (3/31/20 close) • Overall U.S. Corn Exports – $5.485 billion from January-March 2021
o Compared to $2.193 billion in Q1 2020; 2.5 times greater • Global Corn Demand – While a huge global demand was driven by China, other major corn
trading partners consumed record or near record dollars of corn in Q1 2021 as well. (Q1-2020 follows)
Japan: $1.031 billion ($536 million) Mexico: $954 million ($664 million) China: $936 million ($339,000) Korea: $443 million ($119 million)
• Iowa corn exports totaled $957 million for this period, compared to $383 million in 2020. • Not to be outdone, overall U.S. soybean exports were nearly 2 times as large in Q1 2021 vs. the same
period in 2020: $7.676 billion in 2021, compared to $3.904 billion. o China played a much larger role in this surge, with $3.483 billion in exports, nearly 3.5
times more than 2020 ($1.028 billion). o Iowa soybean exports represented $1.002 billion; two times higher than 2020.
• Iowa meat exports saw mixed results in Q1 of 2021. o Fresh/Chilled Beef: $73 million, up 14% year over year o Fresh/Chilled Pork: $318 million, down 12% year over year
Pre-pandemic Q1 2020 numbers were very bullish • Total Iowa ag and food product exports: $1.062 billion in Q1 of 2021 • Top five destinations for ag/food products, and percent change year over year, include:
o China: $5.176 billion, 197% increase o Mexico: $2.282 billion, 25% increase o Japan: $2.262 billion, 31% increase o Korea: $1.202 billion, 53% increase o Egypt: $672 million, 85% increase
• The subsequent pages show supporting data charts for beef, eggs, pork, corn, and soybeans. To learn more, contact Brad Frisvold | Marketing Manager, Agriculture: [email protected], 515.348.6241
Page 2
Beef Exports-Fresh/Chilled (HS0201)
221,791,475
198,886,960
157,675,762
134,483,064
73,291,847
36,941,56733,661,928
18,706,07415,941,383
13,246,755
MAR 2021 YTD
KS
NE
CO
TX
IA
CA
IL
WA
0
20,000,000
40,000,000
60,000,000
80,000,000
100,000,000
120,000,000
Jan-21 Feb-21 Mar-21
US to Partner Countries
JPN KOR MEX CAN TWN
0
5,000,000
10,000,000
15,000,000
20,000,000
Jan-21 Feb-21 Mar-21
IA to Partner Countries
JPN TWN KOR HKG CAN
Page 3
Eggs Exports-Liquid (HS0408)
6,337,839
4,750,1064,332,179
3,426,784
1,455,090
639,295
638,944581,658
387,020325,861
MAR 2021 YTD
IA
NJ
NE
TX
GA
FL
CA
MN
0
1,000,000
2,000,000
3,000,000
4,000,000
Jan-21 Feb-21 Mar-21
US to Partner Countries
JPN MEX CAN KOR DNK
0
500,000
1,000,000
1,500,000
2,000,000
Jan-21 Feb-21 Mar-21
IA to Partner Countries
JPN CAN KOR HKG PHL
Page 4
Pork Exports-Fresh/Chilled (HS0203)
318,974,071
181,004,804
132,496,958126,101,461
121,075,156
101,260,059
84,367,706
78,763,682
77,533,458 69,213,596
MAR 2021 YTD
IA
VA
IL
TX
NC
MO
MN
NE
0
50,000,000
100,000,000
150,000,000
200,000,000
Jan-21 Feb-21 Mar-21
US to Partner Countries
JPN CHN MEX KOR CAN
0
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
Jan-21 Feb-21 Mar-21
IA to Partner Countries
JPN CHN CAN AUS MEX
Page 5
Corn Exports (HS1005)
957,781,486
844,423,492
687,285,534
484,245,085
382,510,105
274,242,199
246,390,876215,563,021
188,713,942154,097,257
MAR 2021 YTD/P
IA
IL
NE
MN
IN
KS
SD
OH
0
200,000,000
400,000,000
600,000,000
800,000,000
1,000,000,000
1,200,000,000
JAN 2021 YTD FEB 2021 YTD/P MAR 2021 YTD/P
US to Partner Countries
JPN MEX CHN KOR COL
0
50,000,000
100,000,000
150,000,000
200,000,000
250,000,000
JAN 2021 YTD FEB 2021 YTD/P MAR 2021 YTD/P
IA to Partner Countries
JPN MEX CHN KOR COL
Page 6
Soybean Exports (HS1201)
1,209,860,785
1,002,348,205
651,243,975622,177,642
558,323,471
489,734,567
476,571,984
372,725,672
366,629,003 351,127,604
MAR 2021 YTD/P
IL
IA
MN
IN
NE
OH
MO
ND
0
1,000,000,000
2,000,000,000
3,000,000,000
4,000,000,000
JAN 2021 YTD FEB 2021 YTD/P MAR 2021 YTD/P
US to Partner Countries
CHN MEX EGY NLD IDN
0
100,000,000
200,000,000
300,000,000
400,000,000
500,000,000
JAN 2021 YTD FEB 2021 YTD/P MAR 2021 YTD/P
IA to Partner Countries
CHN MEX EGY NLD IDN