NEW DELHI, Nov 9 : US soybean net sales were at 1,080,200 metric tonnes (MT) for the week ended November 2 in the marketing year 2023/2024 starting September 1, up 7 percent from the previous week, but down 8 percent from the prior 4-week average.
US soybean net sales were at 1,010,000 MT for the week ended October 26.
Increases were primarily for China (692,400 MT, including 264,000 MT switched from unknown destinations and decreases of 140,300 MT), Mexico (230,600 MT, including decreases of 20,500 MT), Spain (137,600 MT, including 87,500 MT switched from unknown destinations), Germany (108,200 MT), and the Netherlands (84,900 MT, including 85,000 MT switched from unknown destinations and decreases of 100 MT), were offset by reductions for unknown destinations (452,200 MT).
Exports of 2,237,200 MT were up 12 percent from the previous week and 16 percent from the prior 4-week average. The destinations were primarily to China (1,588,100 MT), Mexico (139,900 MT), Germany (108,200 MT), the Netherlands (84,900 MT), and Taiwan (80,300 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 Adjustments: Accumulated exports of soybeans to the Netherlands were adjusted down 84,819 MT for week ending October 5th and 23,364 MT for week ending October 19th. The correct destination for these shipments is Germany.
Soybean Cake and Meal
Net sales of 193,500 MT for 2023/2024 primarily for Mexico (55,800 MT, including decreases of 3,900 MT), Ireland (35,100 MT, including 30,000 MT switched from unknown destinations), Morocco (26,500 MT), Venezuela (25,200 MT), and unknown destinations (12,000 MT), were offset by reductions primarily for Honduras (7,000 MT), Colombia (2,000 MT), Belgium (1,200 MT), Ecuador (500 MT), and Oman (300 MT).
Exports of 264,000 MT were primarily to the Philippines (51,200 MT), Mexico (40,900 MT), Colombia (31,700 MT), Ireland (30,100 MT), and Morocco (27,500 MT).
Soybean Oil
Net sales of 2,600 MT for 2023/2024 were reported for Mexico (2,400 MT) and Canada (200 MT). Exports of 700 MT were to Canada (400 MT) and Mexico (300 MT).
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