US soybean net export sales for July 14-20 up 58 percent at 198,500 MT

MUMBAI, 27 July (Commoditiescontrol) : US soybean net sales were at 198,500 metric tonnes (MT) for the week ended July 20 in the marketing year 2022/2023 starting September 1, up noticeably from the previous week and up 73 percent from the prior 4-week average.


US soybean net sales were at 127,000 MT for the week ended July 13.


Net sales were primarily for the Netherlands (110,300 MT, including 115,000 MT switched from unknown destinations and decreases of 6,900 MT), Germany (106,400 MT), China (43,300 MT), Indonesia (40,500 MT), and Mexico (22,500 MT, including decreases of 47,900 MT), were offset by reductions for unknown destinations (112,800 MT) and Egypt (63,000 MT).


Net sales of 544,600 MT for 2023/2024 were primarily for China (275,000 MT), Mexico (70,300 MT), Egypt (63,000 MT), unknown destinations (57,500 MT), and Bangladesh (55,000 MT).


Exports of 379,600 MT were up noticeably from the previous week and up 74 percent from the prior 4-week average. The destinations were primarily to the Netherlands (110,300 MT), Germany (106,400 MT), Mexico (64,200 MT), Spain (55,000 MT), and Indonesia (15,500 MT).


Optional Origin Sales: For 2022/2023, the current outstanding balance of 300 MT, all South Korea.


Export for Own Account: For 2022/2023, the current exports for own account outstanding balance of 1,800 MT are for Canada (1,400 MT) and Taiwan (400 MT).


Export Adjustments: Accumulated exports of soybeans to the Netherlands were adjusted down 40,971 MT for the week ending July 6th and 65,387 MT for week ending July 13th. The correct destination for these shipments is Germany.


Late Reporting: For 2022/2023, new sales and exports totaling 4,669 MT of soybeans were reported late for Japan.


Soybean Cake and Meal


Net sales of 159,800 MT for 2022/2023 were down 41 percent from the previous week, but up 10 percent from the prior 4-week average.


Increases primarily for the Dominican Republic (48,600 MT, including decreases of 15,600 MT), Mexico (42,600 MT), the United Kingdom (20,000 MT), Honduras (15,600 MT, including 5,000 MT switched from Nicaragua and decreases of 19,900 MT), and Canada (15,200 MT), were offset by reductions primarily for Guatemala (6,000 MT), Nicaragua (5,000 MT), and Costa Rica (1,100 MT).


Net sales of 114,000 MT for 2023/2024 primarily for the Philippines (45,000 MT), Canada (39,000 MT), Japan (25,000 MT), Honduras (7,600 MT), and Indonesia (1,500 MT), were offset by reductions for Costa Rica (5,100 MT).


Exports of 291,700 MT were up 26 percent from the previous week and from the prior 4-week average. The destinations were primarily to the Dominican Republic (58,800 MT), the Philippines (51,300 MT), Mexico (30,200 MT), Ecuador (26,800 MT), and Colombia (25,900 MT).


Soybean Oil


Net sales of 2,100 MT for 2022/2023 were down noticeably from the previous week and from the prior 4-week average.


Increases were reported for Mexico (1,500 MT) and Canada (600 MT). Exports of 500 MT were down 52 percent from the previous week and 72 percent from the prior 4-week average. The primary destination was to Canada (200 MT).