NEW DELHI, Feb 23: US soybean net sales were at 55,900 MT, a marketing-year low, for the week ended February 15 in the marketing year 2023/2024 starting September 1, down 84 percent from the previous and from the prior 4-week average.
US soybean net sales were at 353,800 MT for the week ended February 8.
Increases were primarily for China (391,700 MT, including 363,000 MT switched from unknown destinations), Indonesia (128,300 MT, including 68,000 MT switched from unknown destinations and decreases of 3,000 MT), South Korea (61,000 MT, including 62,000 MT switched from unknown destinations and decreases of 1,100 MT), Japan (34,900 MT, including 18,000 MT switched from unknown destinations and decreases of 2,500 MT), and the Dominican Republic (8,100 MT, including decreases of 900 MT), were offset by reductions primarily for unknown destinations (591,700 MT).
Exports of 1,197,100 MT were down 18 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to China (659,900 MT), Mexico (187,800 MT), Indonesia (110,100 MT), Japan (70,600 MT), and South Korea (61,200 MT).
Exports for Own Account: For 2023/2024, the current exports for own account outstanding balance of 2,200 MT are for Canada (1,400 MT) and Taiwan (800 MT).
Soybean Cake and Meal
Net sales of 202,000 MT for 2023/2024 were down 1 percent from the previous week and 35 percent from the prior 4-week average.
Increases primarily for Colombia (97,900 MT, including 53,700 MT switched from unknown destinations and decreases of 6,000 MT), Vietnam (51,000 MT), Mexico (28,700 MT), Morocco (21,000 MT, including 18,000 MT switched from Ireland), and the Dominican Republic (17,400 MT), were offset by reductions primarily for unknown destinations (54,000 MT) and Ireland (18,000 MT).
Total net sales of 500 MT for 2024/2025 were for Canada. Exports of 293,600 MT were down 15 percent from the previous week and 9 percent from the prior 4-week average.
The destinations were primarily to the Philippines (96,000 MT), Colombia (60,500 MT), Mexico (39,600 MT), Morocco (36,000 MT), and Honduras (21,300 MT).
Soybean Oil
Net sales reductions of 5,300 MT for 2023/2024 were unchanged from the previous week, but down noticeable from the prior 4-week average.
Increases reported for Mexico (300 MT), were more than offset by reductions for Canada (5,600 MT). Exports of 1,300 MT--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average.
The destinations were to Canada (1,200 MT) and Mexico (100 MT).
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