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US soybean net sales for May 3-9 at 265,700 MT, down 38 percent W/W

16 May 2024 6:19 pm
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NEW DELHI, May 16: US soybean net sales were at 265,700 MT for the week ended May 9 in the marketing year 2023/2024 starting September 1, down 38 percent from the previous week and 31 percent from the prior 4-week average.

US soybean net sales were at 414,000 MT for the week ended May 2.

Increases were primarily for Egypt (90,400 MT, including 80,000 MT switched from unknown destination), Indonesia (87,900 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT), Mexico (86,600 MT, including decreases of 1,600 MT), Colombia (23,000 MT, including 15,000 MT switched from unknown destinations and decreases of 800 MT), and Taiwan (18,500 MT), were offset by reductions for unknown destinations (64,800 MT) and China (600 MT).

Net sales of 25,200 MT for 2024/2025 reported for Taiwan (29,000 MT), Malaysia (5,600 MT), Indonesia (500 MT), and Japan (100 MT), were offset by reductions for Thailand (10,000 MT).

Exports of 443,500 MT were up 46 percent from the previous week and 21 percent from the prior 4-week average. The destinations were primarily to Egypt (141,300 MT), China (83,500 MT), Indonesia (81,600 MT), Mexico (55,900 MT), and Colombia (31,300 MT).

Exports for Own Account: For 2023/2024, the current exports for own account outstanding balance of 3,300 MT are for Canada (1,400 MT), Taiwan (900 MT), Bangladesh (500 MT), and Malaysia (500 MT).

Soybean Cake and Meal

Net sales of 300,400 MT for 2023/2024 were up 44 percent from the previous week and 55 percent from the prior 4-week average.

Increases primarily for unknown destinations (121,600 MT), the Philippines (39,500 MT, including decreases of 11,000 MT), Colombia (30,800 MT), Mexico (24,900 MT), and Panama (20,000 MT), were offset by reductions for Trinidad and Tobago (4,000 MT), Belgium (2,500 MT), and Burma (2,100 MT).

Net sales of 31,100 MT for 2024/2025 were reported for Colombia (18,000 MT), Canada (6,500 MT), Venezuela (4,000 MT), Honduras (2,100 MT), and the Philippines (500 MT).

Exports of 211,200 MT were down 10 percent from the previous week and 21 percent from the prior 4-week average. The destinations were primarily to the Dominican Republic (52,600 MT), the Philippines (50,500 MT), Mexico (25,200 MT), Canada (18,700 MT), and Israel (10,900 MT).

Export Adjustment: Accumulated exports of soybean cake and meal to Burma were adjusted down 526 MT for the week ending April 18th and 1,001 MT for the week ending May 2nd. The correct destination for these shipments is Thailand.

Soybean Oil

Net sales of 9,100 MT for 2023/2024 were down 21 percent from the previous week, but up 4 percent from the prior 4-week average.

Increases reported for Jamaica (8,000 MT), Colombia (2,000 MT), and Mexico (300 MT), were offset by reductions for Canada (1,200 MT).

Total net sales of 1,000 MT for 2024/2025 were for the Dominican Republic. Exports of 1,500 MT were down 17 percent from the previous week and 30 percent from the prior 4-week average. The destinations were to Mexico (1,200 MT) and Canada (300 MT).

(By Commoditiescontrol Bureau; +91-9820130172)

       
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