NEW DELHI, March 21: US soybean net sales were at 494,000 MT for the week ended March 14 in the marketing year 2023/2024 starting September 1, up 31 percent from the previous week and 86 percent from the prior 4-week average.
US soybean net sales were at 376,000 MT for the week ended March 7.
Increases were primarily for China (304,400 MT, including 266,000 MT switched from unknown destinations), Mexico (90,000 MT, including decreases of 2,300 MT), Indonesia (55,000 MT, including decreases of 1,600 MT), Japan (39,400 MT, including 18,200 MT switched from unknown destinations and decreases of 200 MT), and Taiwan (17,900 MT), were offset by reductions for unknown destinations (47,200 MT) and Colombia (700 MT).
Total net sales of 300 MT for 2024/2025 were for South Korea. Exports of 773,100 MT were down 18 percent from the previous week and 32 percent from the prior 4-week average. The destinations were primarily to China (608,000 MT, including 68,700 MT - late), Mexico (64,900 MT), Indonesia (30,200 MT), Japan (23,700 MT), and Vietnam (11,500 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).
Late Reporting: For 2023/2024, exports totaling 68,666 MT of soybeans were reported late to China.
Soybean Cake and Meal
Net sales of 243,400 MT for 2023/2024 were up 16 percent from the previous week, but down 5 percent from the prior 4-week average.
Increases primarily for Vietnam (53,500 MT), unknown destinations (50,000 MT), the Philippines (46,000 MT), Venezuela (22,700 MT), and Morocco (22,000 MT), were offset by reductions for Greece (10,400 MT) and Nicaragua (8,600 MT).
Net sales of 42,300 MT for 2024/2025 were reported for Canada (41,800 MT) and Sri Lanka (500 MT).
Exports of 328,000 MT were down 12 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Mexico (59,100 MT), Vietnam (54,300 MT), Greece (33,600 MT), Colombia (29,700 MT), and Venezuela (27,700 MT).
Soybean Oil
Net sales of 1,900 MT for 2023/2024 were down 83 percent from the previous week and 80 percent from the prior 4-week average. The destination was Mexico.
Exports of 12,500 MT--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. The destinations were primarily to Colombia (11,000 MT) and Mexico (1,300 MT).
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