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US soybean net sales for Nov 24-30 at 1,517,600 MT, down 20 percent W/W

7 Dec 2023 9:42 pm
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NEW DELHI, Dec 7: US soybean net sales were at 1,895,300 metric tonnes (MT) for the week ended November 30 in the marketing year 2023/2024 starting September 1, down 20 percent from the previous week and 21 percent from the prior 4-week average.

US soybean net sales were at 1,895,300 MT for the week ended November 23.

Increases were primarily for China (565,200 MT, including 110,000 MT switched from unknown destinations and decreases of 115,400 MT), Spain (240,600 MT, including 227,000 MT switched from unknown destinations and 66,000 MT switched from China), the Netherlands (182,400 MT, including 184,000 MT switched from unknown destinations and decreases of 8,800 MT), Japan (116,000 MT, including 45,800 MT switched from unknown destinations and decreases of 6,300 MT), and Mexico (91,300 MT, including decreases of 1,700 MT), were offset by reductions for unknown destinations (700 MT), Portugal (600 MT), and Morocco (400 MT).

Exports of 1,335,300 MT were down 10 percent from the previous week and 26 percent from the prior 4-week average. The destinations were primarily to China (444,300 MT), Spain (240,600 MT), the Netherlands (182,400 MT), Mexico 84,200 MT), and Germany (68,000 MT).

Exports for Own Account: For 2023/2024, the current exports for own account outstanding balance of 2,100 MT are for Canada (1,400 MT) and Taiwan (700 MT).

Export Adjustment: Accumulated exports of soybeans to the Netherlands were adjusted down 68,009 MT for week ending November 16th. The correct destination for this shipment is Germany.

Soybean Cake and Meal

Net sales of 110,000 MT for 2023/2024 were up 70 percent from the previous week, but down 27 percent from the prior 4-week average.

Increases primarily for Belgium (54,000 MT, including 45,000 MT switched from unknown destinations), Morocco (35,900 MT, including 31,000 MT switched from Ireland), Japan (33,800 MT), the Dominican Republic (30,200 MT, including decreases of 400 MT), and Colombia (19,800 MT, including decreases of 600 MT), were offset by reductions for unknown destinations (65,000 MT), Ireland (31,000 MT), Ecuador (27,700 MT), and Other Pacific Islands (400 MT).

Total net sales of 500 MT for 2024/2025 were for Mexico. Exports of 373,100 MT--a marketing-year high--were up 38 percent from the previous week and 40 percent from the prior 4-week average.

The destinations were primarily to Ecuador (62,300 MT), the Philippines (54,400 MT), Morocco (53,900 MT), Belgium (49,500 MT), and New Zealand (31,800 MT).

Soybean Oil

Total net sales reductions of 1,600 MT for 2023/2024 were down noticeably from the previous week and from the prior 4-week average.

The reductions include decreases of 1,800 MT for Canada. Exports of 1,300 MT--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. The destinations were to Canada (1,200 MT) and Mexico (100 MT).


       
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