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US soybean net sales for Feb 16-22 at 159,700 MT, up noticeably W/W

29 Feb 2024 8:46 pm
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NEW DELHI, Feb 29: US soybean net sales were at 159,700 MT for the week ended February 22 in the marketing year 2023/2024 starting September 1, up noticeably from the previous, but down 30 percent from the prior 4-week average.

US soybean net sales were at 55,900 MT for the week ended February 15.

Increases were primarily for China (154,800 MT, including 132,000 MT switched from unknown destinations), the Netherlands (142,700 MT, including 137,000 MT switched from unknown destinations and decreases of 2,400 MT), Mexico (111,600 MT, including decreases of 1,600 MT), South Korea (60,500 MT, including 62,000 MT switched from unknown destinations and decreases of 1,600 MT), and Indonesia (39,500 MT, including decreases of 3,600 MT), were offset by reductions for unknown destinations (392,600 MT).

Exports of 1,101,700 MT were down 8 percent from the previous week and 16 percent from the prior 4-week average. The destinations were primarily to China (689,000 MT), the Netherlands (142,700 MT), Mexico (90,300 MT), South Korea (61,200 MT), and Japan (28,900 MT).

Exports for Own Account: For 2023/2024, new exports for own account totaling 1,000 MT were to Bangladesh (500 MT) and Malaysia (500 MT). 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).

Soybean Cake and Meal

Net sales of 456,200 MT for 2023/2024 were up noticeably from the previous week and up 54 percent from the prior 4-week average.

Increases primarily for the Philippines (235,100 MT, including decreases of 200 MT), Mexico (99,300 MT, including decreases of 4,700 MT), Canada (52,100 MT), the United Kingdom (27,000 MT, including 22,600 MT switched from unknown destinations), and Morocco (17,600 MT, including 13,500 MT switched from unknown destinations, 6,000 MT switched from Ireland, and decreases of 1,900 MT), were offset by reductions for unknown destinations (25,500 MT), Ireland (6,000 MT), Belgium (2,400 MT), the Dominican Republic (2,200 MT), and Guatemala (200 MT).

Net sales of 6,400 MT for 2024/2025 were reported for Canada (5,200 MT) and Japan (1,200 MT).

Exports of 276,400 MT were down 6 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to Vietnam (61,900 MT), the Philippines (55,000 MT), Mexico (31,500 MT), the United Kingdom (27,000 MT), and Canada (25,300 MT).

Soybean Oil

Net sales of 3,000 MT for 2023/2024 were down noticeably from the previous week and from the prior 4-week average.

Increases were reported for Canada (2,400 MT) and Mexico (600 MT). Exports of 1,400 MT--a marketing-year high--were up 10 percent from the previous week and up noticeably from the prior 4-week average.

The destinations were to Mexico (1,000 MT) and Canada (400 MT).


       
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