U.S. Soybean Weekly Exports Hit MY Low at 768,100 MT During Nov 13-19

Mumbai (Commodities Control) – U.S Soybeans net export sales of 768,100 MT, during 13-19 November, for 2020/2021--a marketing-year low--were down 42 percent from the previous week and 47 percent from the prior 4-week average.

U.S soybean net export sales of 1,387,700 MT, during 6-12 November, for 2020/2021 hit a marketing-year low, were down 6 percent from the previous week and 18 percent from the prior 4-week average.

Increases primarily for China (578,700 MT, including 330,000 MT switched from unknown destinations and decreases of 2,500 MT), Egypt (167,700 MT, including 55,000 MT switched from China and decreases of 2,500 MT), Germany (125,400 MT), Indonesia (100,800 MT, including 68,000 MT switched from unknown destinations and decreases of 100 MT), and Thailand (75,500 MT, including 66,000 MT switched from unknown destinations), were offset by reductions primarily for unknown destinations (738,900 MT).

Exports of 2,412,200 MT were down 4 percent from the previous week and 11 percent from the prior 4-week average. The destinations were primarily to China (1,668,000 MT), Mexico (126,000 MT), Germany (125,400 MT), Indonesia (99,500 MT), and Egypt (87,700 MT).

Optional Origin Sales: For 2020/2021, the current outstanding balance of 63,000 MT, all China.

Exports for Own Account: For 2020/2021, new exports for own account totaling 25,200 MT were to Canada. The current exports for own account outstanding balance is 54,900 MT, all Canada.

Export Adjustment: Accumulated export of soybeans to the Netherland were adjusted down 68,651 MT for week ending November 5th and 56,763 MT for week ending November 12th. The correct destination for these shipments is Germany and is included in this week’s report.

Soybean Cake and Meal: Net sales of 138,100 MT for 2020/2021, resulting in increases primarily for Canada (52,400 MT, including decreases of 700 MT), Mexico (22,700 MT), Guatemala (16,500 MT, including decreases of 500 MT), Colombia (11,000 MT, including 15,000 MT switched from unknown destinations and decreases of 7,800 MT), and Morocco (11,000 MT), were offset by reductions primarily for unknown destinations (16,900 MT). Exports of 263,200 MT were primarily to Spain (52,200 MT), Mexico (45,800 MT), Japan (33,500 MT), the Dominican Republic (31,300 MT), and the Philippines (23,200 MT).

Soybean Oil: Net sales of 26,300 MT for 2020/2021, increases were primarily for South Korea (9,600 MT), Colombia (8,500 MT), Venezuela (4,000 MT), the Dominican Republic (2,000 MT), and Canada (1,200 MT). For 2021/2022, total net sales of 600 MT were for Canada. Exports of 1,400 MT were primarily to Mexico (700 MT) and Canada (600 MT).