NEW DELHI, Sep 8 : US soybean net sales were at 1,783,100 metric tonnes (MT), a marketing-year high, for the week ended August 31 in the marketing year 2022/2023 starting September 1, up noticeably from the previous week.
US soybean net sales reductions were at 50,700 MT for the week ended August 24.
Net sales were primarily for unknown destinations (863,900 MT), China (735,200 MT), Japan (88,200 MT), Indonesia (53,600 MT), and Taiwan (19,800 MT). A total of 155,600 MT in sales were carried over from the 2022/2023 marketing year, which ended August 31.
Exports for the period ending August 31- September 1 of 514,200 MT brought accumulated exports to 52,207,500 MT, down 9 percent from the prior year’s total of 57,188,800 MT. The primary destinations were to Germany (143,500 MT), China (143,100 MT), the Netherlands (67,100 MT), Japan (48,700 MT), and Spain (38,500 MT).
Optional Origin: For 2022/2023, decreases of 300 MT were for South Korea.
Export for Own Account: For 2023/2024, new exports for own account totaling 1,900 MT reported for Canada (1,400 MT) and Taiwan (500 MT) were carried over from the 2022/2023 marketing year, which ended August 31. The current exports for own account outstanding balance of 1,900 MT for September 1 are for Canada (1,400 MT) and Taiwan (500 MT).
Export Adjustments: Accumulated exports of soybeans to the Netherlands were adjusted down 58,253 MT for week ending August 3rd and 85,262 MT for week ending August 17th. The correct destination for these shipments is Germany.
Soybean Cake and Meal
Net sales of 297,100 MT for 2022/2023 were up noticeably from the previous week and from the prior 4-week average.
Increases primarily for unknown destinations (145,000 MT), Ireland (60,000 MT), Portugal (20,800 MT, including 20,000 MT switched from unknown destinations), Honduras (18,700 MT, including decreases of 3,200 MT), and Mexico (11,600 MT, including decreases of 100 MT), were offset by reductions for Guatemala (14,300 MT), Vietnam (4,600 MT), Senegal (400 MT), Spain (400 MT), and Kuwait (100 MT).
Net sales of 143,100 MT for 2023/2024 primarily for Canada (45,400 MT), Mexico (28,500 MT), Honduras (18,700 MT), Guatemala (14,900 MT), and Vietnam (12,700 MT), were offset by reductions for Panama (5,500 MT).
Exports of 237,900 MT were up 5 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to the Philippines (50,700 MT), Mexico (27,500 MT), Ecuador (26,700 MT), Canada (23,100 MT), and Portugal (20,800 MT).
Soybean Oil
Total net sales reductions of 900 MT for 2022/2023 were down noticeably from the previous week and from the prior 4-week average. Decreases were for Canada.
Exports of 2,500 MT were up noticeably from the previous week and from the prior 4-week average. The destination was primarily to Mexico (1,700 MT).
(By Commoditiescontrol Bureau; +91-9820130172)
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