NEW DELHI, March 7: US soybean net sales were at 613,500 MT for the week ended February 29 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 159,700 MT for the week ended February 22.
Increases were primarily for China (269,100 MT, including 242,000 MT switched from unknown destinations and decreases of 9,400 MT), Germany (204,300 MT), Indonesia (55,700 MT, including decreases of 3,300 MT), Bangladesh (55,000 MT switched from unknown destinations), and Spain (47,400 MT - late), were offset by reductions for unknown destinations (108,200 MT).
Net sales of 66,000 MT for 2024/2025 were for unknown destinations. Exports of 1,418,000 MT were up 29 percent from the previous week and 9 percent from the prior 4-week average. The destinations were primarily to China (980,000 MT), Germany (204,300 MT), Mexico (78,400 MT), Spain (47,400 MT - late), and Japan (28,900 MT).
Exports for Own Account: For 2023/2024, the current exports for own account outstanding balance of 3,200 MT are for Canada (1,400 MT), Taiwan (800 MT), Bangladesh (500 MT), and Malaysia (500 MT).
Export Adjustments: Accumulated exports of soybeans were adjusted down 134,474 MT to the Netherlands for the week ending February 1st and 69,798 MT for the week ending February 8th. These shipments were reported in error.]
Late Reporting: For 2023/2024, net sales and exports totaling 47,400 MT of soybeans were reported late for Spain.
Soybean Cake and Meal
Net sales of 157,700 MT for 2023/2024 were down 65 percent from the previous week and 45 percent from the prior 4-week average.
Increases primarily for Colombia (41,100 MT, including 18,000 MT switched from unknown destinations and decreases of 18,700 MT), Ireland (22,300 MT, including 17,900 MT switched from unknown destinations), Guatemala (20,300 MT, including decreases of 12,000 MT), Morocco (20,000 MT), and the Dominican Republic (18,600 MT, including decreases of 1,200 MT), were offset by reductions primarily for unknown destinations (41,900 MT).
Total net sales of 64,700 MT for 2024/2025 were for Canada.
Exports of 384,400 MT were up 39 percent from the previous week and 29 percent from the prior 4-week average. The destinations were primarily to Colombia (67,900 MT), the Philippines (58,900 MT), Ireland (52,300 MT), Panama (40,900 MT), and the Dominican Republic (36,700 MT).
Soybean Oil
Net sales of 29,200 MT for 2023/2024--a marketing-year high--were up noticeably from the previous week, but down noticeably from the prior 4-week average.
Increases were reported for Colombia (14,500 MT), Mexico (7,000 MT), Venezuela (4,000 MT), Jamaica (3,500 MT), and Canada (200 MT). Exports of 700 MT were down 54 percent from the previous week and 25 percent from the prior 4-week average.
The destinations were primarily to Canada (400 MT) and Honduras (100 MT).
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