NEW DELHI, Nov 24: US soybean net sales were at 961,300 metric tonnes (MT) for the week ended November 16 in the marketing year 2023/2024 starting September 1, down 75 percent from the previous week and 47 percent from the prior 4-week average.
US soybean net sales were at 3,918,400 MT for the week ended November 9.
Increases were primarily for China (757,400 MT, including 447,000 MT switched from unknown destinations and decreases of 18,400 MT), Spain (167,900 MT, including 170,000 MT switched from unknown destinations and decreases of 5,400 MT), Mexico (134,000 MT, including decreases of 2,300 MT), Indonesia (72,600 MT, including 68,000 MT switched from unknown destinations and decreases of 800 MT), and the Netherlands (68,000 MT, including 62,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (475,700 MT) and Egypt (6,000 MT).
Total net sales of 9,000 MT for 2024/2025 were for Japan. Exports of 1,660,300 MT were down 14 percent from the previous week and 22 percent from the prior 4-week average.
The destinations were primarily to China (1,045,900 MT), Spain (167,900 MT), Indonesia (96,900 MT), Mexico (86,000 MT), and the Netherlands (68,000 MT).
Exports for Own Account: For 2023/2024, the current exports for own account outstanding balance of 2,100 MT are for Canada (1,400 MT) and Taiwan (700 MT).
Export Adjustments: Accumulated exports of soybeans to China were adjusted down 650 MT for week ending November 2nd. This shipment was reported in error. Accumulated exports of soybeans to the Netherlands were adjusted down 65,120 MT for week ending November 9th. The correct destination for this shipment is Germany.
Soybean Cake and Meal
Net sales of 203,600 MT for 2023/2024 were up 41 percent from the previous week, but down 13 percent from the prior 4-week average.
Increases primarily for Mexico (42,600 MT), Colombia (32,600 MT, including decreases of 200 MT), New Zealand (30,000 MT), unknown destinations (25,000 MT), and Canada (19,600 MT), were offset by reductions for Japan (1,800 MT). Exports of 288,100 MT were up 17 percent from the previous week and 23 percent from the prior 4-week average.
The destinations were primarily to the Philippines (98,800 MT), Colombia (46,200 MT), Mexico (31,500 MT), the Dominican Republic (29,000 MT), and Venezuela (27,500 MT).
Late Reporting: For 2023/2024, net sales totaling 836 MT of soybean cake and meal were reported late for Hong Kong. Exports of 503 MT were late to Hong Kong.
Soybean Oil
Net sales of 300 MT for 2023/2024 were down 92 percent from the previous week and 85 percent from the prior 4-week average.
Increases were primarily for Canada (200 MT). Total net sales of 400 MT for 2024/2025 were for Canada.
Exports of 700 MT were down 2 percent from the previous week, but up 8 percent from the prior 4-week average. The destinations were primarily to Canada (500 MT) and Mexico (100 MT).
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