NEW DELHI, Nov 16 : US soybean net sales were at 3,918,400 metric tonnes (MT), a marketing-year high, for the week ended November 9 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 1,080,200 MT for the week ended November 2.
Increases were primarily for China (2,614,600 MT, including 198,000 MT switched from unknown destinations and decreases of 5,500 MT), unknown destinations (721,300 MT), the Netherlands (123,500 MT, including 117,000 MT switched from unknown destinations), Vietnam (72,600 MT, including 66,000 MT switched from unknown destinations), and Turkey (72,300 MT, including 66,000 MT switched from unknown destinations), were offset by reductions for Colombia (1,000 MT), Barbados (200 MT), and Costa Rica (100 MT).
Exports of 1,991,300 MT were down 11 percent from the previous week and 7 percent from the prior 4-week average. The destinations were primarily to China (1,221,700 MT), the Netherlands (123,500 MT), Bangladesh (122,500 MT), Mexico (109,100 MT), and Vietnam (79,900 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).
Soybean Cake and Meal
Net sales of 144,800 MT for 2023/2024 were down 25 percent for previous week and 53 percent from the prior 4-week average.
Increases primarily for Ireland (40,000 MT), Mexico (32,500 MT, including decreases of 100 MT), unknown destinations (16,000 MT), Honduras (13,100 MT, including decreases of 300 MT), and Nicaragua (7,500 MT, including 2,600 MT switched from Costa Rica and decreases of 4,600 MT), were offset by reductions primarily for Ecuador (3,200 MT) and Belgium (1,800 MT).
Exports of 246,200 MT were down 7 percent from the previous week, but up 11 percent from the prior 4-week average. The destinations were primarily to Vietnam (58,400 MT), the Philippines (47,500 MT), Honduras (30,600 MT), Ecuador (28,800 MT), and Mexico (17,500 MT).
Soybean Oil
Net sales of 3,400 MT for 2023/2024 were up 31 percent for previous week and 67 percent from the prior 4-week average. Increases were reported for Canada (3,200 MT) and Mexico (200 MT).
Total net sales reductions of 400 MT for 2024/2025 were for Canada.
Exports of 700 MT were down 1 percent for the previous week, but up 11 percent from the prior 4-week average. The destinations were to Canada (500 MT) and Mexico (200 MT).
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