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US soybean net sales for June 7-13 at 556,500 MT, up 48 percent W/W

21 Jun 2024 7:16 pm
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NEW DELHI, June 21: US soybean net sales were at 556,500 MT for the week ended June 13 in the marketing year 2023/2024 starting September 1, up 48 percent from the previous week and 89 percent from the prior 4-week average.

US soybean net sales were at 377,100 MT for the week ended June 6.

Increases were primarily for China (213,700 MT), Egypt (157,500 MT, including 50,000 MT switched from unknown destinations and decreases of 2,500 MT), Indonesia (64,600 MT, including 55,000 MT switched from unknown destinations and decreases of 200 MT), the Netherlands (58,300 MT, including 62,000 MT switched from unknown destinations and decreases of 3,700 MT), and unknown destinations (48,700 MT), were offset by reductions for Pakistan (66,000 MT) and Algeria (1,200 MT).

Net sales of 84,000 MT for 2024/2025 were reported for Pakistan (66,000 MT), unknown destinations (9,000 MT), Taiwan (4,500 MT), South Korea (3,300 MT), and Japan (1,200 MT). Exports of 341,000 MT were up 58 percent from the previous week and 27 percent from the prior 4-week average. The destinations were primarily to Indonesia (78,900 MT), the Netherlands (58,300 MT), Egypt (52,500 MT), Algeria (43,800 MT), and Mexico (32,600 MT).

Exports for Own Account: For 2023/2024, the current exports for own account outstanding balance of 3,600 MT are for Canada (1,400 MT), Taiwan (1,200 MT), Bangladesh (500 MT), and Malaysia (500 MT).

Soybean Cake and Meal

Net sales of 178,800 MT for 2023/2024 were up 25 percent from the previous week, but down 11 percent from the prior 4-week average.

Increases primarily for Vietnam (50,000 MT), Panama (38,600 MT), Guatemala (34,600 MT, including 4,500 MT switched from Nicaragua and decreases of 6,600 MT), Mexico (22,400 MT, including decreases of 5,600 MT), and Colombia (22,200 MT, including 10,000 MT switched from unknown destinations and decreases of 900 MT), were offset by reductions for Honduras (22,600 MT).

Net sales of 32,800 MT for 2024/2025 were primarily for Mexico (18,700 MT), Canada (12,300 MT), and Sri Lanka (1,500 MT).

Exports of 206,100 MT were down 28 percent from the previous week and 13 percent from the prior 4-week average. The destinations were primarily to Vietnam (50,000 MT), Mexico (32,700 MT), Ecuador (32,300 MT), Canada (26,800 MT), and Colombia (12,200 MT).

Soybean Oil

Net sales of 20,900 MT for 2023/2024 were up 43 percent from the previous week and up noticeably from the prior 4-week average.

Increases primarily for Mexico (16,500 MT) and Venezuela (5,000 MT), were offset by reductions for Canada (1,200 MT). Total net sales reductions of 400 MT for 2024/2025 were for Mexico. Exports of 1,500 MT were down 39 percent from the previous week and 84 percent from the prior 4-week average.

The destinations were to Canada (800 MT) and Mexico (700 MT).


       
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