US soybean net sales for July 19-25 at 376,400 MT, up noticeably W/W

US soybean net sales for July 19-25 at 376,400 MT, up noticeably W/W

NEW DELHI, Aug 01: US soybean net sales were at 376,400 MT for the week ended July 25 in the marketing year 2023/2024 starting September 1, up noticeably from the previous week and from the prior 4-week average.

US soybean net sales were at 88,600 MT for the week ended July 18.

Increases were primarily for Germany (174,400 MT), the Netherlands (124,400 MT, including 122,000 MT switched from unknown destinations and decreases of 2,900 MT), Egypt (112,500 MT, including 57,500 MT switched from unknown destinations), Mexico (46,000 MT, including decreases of 2,400 MT), and Japan (32,500 MT), were offset by reductions for unknown destinations (164,300 MT) and China (4,900 MT). Net sales of 632,100 MT for 2024/2025 were primarily for unknown destinations (543,700 MT), Mexico (43,500 MT), Portugal (17,500 MT), China (9,500 MT), and Japan (8,400 MT).

Exports of 565,600 MT were up 54 percent from the previous week and up noticeably from the prior 4-week average. The destinations were primarily to Germany (174,400 MT), Mexico (137,300 MT), the Netherlands (124,400 MT), Egypt (57,500 MT), and Indonesia (21,200 MT).

Exports for Own Account: For 2023/2024, the current exports for own account outstanding balance of 3,700 MT are for Canada (1,400 MT), Taiwan (1,300 MT), Bangladesh (500 MT), and Malaysia (500 MT).

Export Adjustments: Accumulated exports of soybeans were adjusted down 58,297 MT to the Netherlands for week ending June 13th, 58,540 MT for week ending June 27th, and 57,600 MT for the week ending July 4th. The correct destination for these shipments is Germany.

Soybean Cake and Meal

Net sales of 43,700 MT for 2023/2024--a marketing-year low--were down 83 percent from the previous week and 76 percent from the prior 4-week average.

Increases primarily for Venezuela (26,500 MT), the Dominican Republic (14,000 MT), Jamaica (9,200 MT), Colombia (6,400 MT, including decreases of 800 MT), and Honduras (5,800 MT, including 6,000 MT switched from Nicaragua and decreases of 200 MT), were offset by reductions primarily for unknown destinations (25,000 MT), Nicaragua (6,000 MT), Panama (6,000 MT), Taiwan (1,400 MT), and Japan (600 MT).

Net sales of 232,400 MT for 2024/2025 were primarily for Canada (84,800 MT), the Dominican Republic (51,700 MT), the Philippines (45,800 MT), unknown destinations (20,000 MT), and Honduras (9,700 MT).

Exports of 218,600 MT were up 18 percent from the previous week and 6 percent from the prior 4-week average. The destinations were primarily to Vietnam (52,500 MT), Mexico (50,300 MT), Venezuela (31,500 MT), Canada (27,500 MT), and Colombia (13,200 MT).

Soybean Oil

Net sales of 500 MT for 2023/2024 were down 93 percent from the previous week and 94 percent from the prior 4-week average.

Increases were reported for Canada (400 MT) and Venezuela (100 MT). Total net sales reductions of 3,500 MT for 2024/2025 were for Mexico.

Exports of 8,800 MT were down 21 percent from the previous week and 40 percent from the prior 4-week average. The destinations were to Venezuela (6,100 MT), Mexico (2,000 MT), and Canada (700 MT).