NEW DELHI, Dec 29: US soybean net sales were at 983,900 metric tonnes (MT) for the week ended December 21 in the marketing year 2023/2024 starting September 1, down 51 percent from the previous week and 38 percent from the prior 4-week average.
US soybean net sales were at 1,989,400 MT for the week ended December 14.
Increases were primarily for China (576,800 MT, including 264,000 MT switched from unknown destinations and decreases of 10,000 MT), the Netherlands (134,300 MT, including 127,000 MT switched from unknown destinations), Indonesia (94,700 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT), Mexico (93,800 MT, including decreases of 1,800 MT), and South Korea (62,300 MT, including 62,000 MT switched from unknown destinations and decreases of 1,200 MT), were offset by reductions for unknown destinations (178,500 MT) and Singapore (7,500 MT).
Exports of 1,216,000 MT were down 9 percent from the previous week and 6 percent from the prior 4-week average. The destinations were primarily to China (435,800 MT, including 71,500 MT - late), Japan (146,800 MT), Mexico (136,800 MT), the Netherlands (134,300 MT), and Indonesia (84,600 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).
Late Reporting: For 2023/2024, exports totaling 71,514 MT of soybeans were reported late to China.
Soybean Cake and Meal
Net sales of 268,500 MT for 2023/2024 were up 82 percent from the previous week and 66 percent from the prior 4-week average.
Increases primarily for Mexico (74,600 MT), Colombia (57,000 MT, including decreases of 200 MT), Vietnam (55,900 MT, including 50,000 MT switched from unknown destinations), Morocco (34,500 MT), and Venezuela (25,700 MT, including 25,000 MT switched from Panama), were offset by reductions for unknown destinations (35,400 MT), Panama (8,700 MT), South Korea (200 MT), and Ecuador (100 MT).
Total net sales of 100 MT for 2024/2025 were for Canada. Exports of 296,000 MT were up 14 percent from the previous week, but down 3 percent from the prior 4-week average.
The destinations were primarily to Vietnam (59,200 MT), Ecuador (51,500 MT), the Philippines (49,100 MT), Mexico (43,400 MT), and Venezuela (25,700 MT).
Soybean Oil
Total net sales of 900 MT for 2023/2024 were down 71 percent from the previous week, but up 45 percent from the prior 4-week average.
The destination was Canada. Exports of 300 MT were up 27 percent from the previous week, but down 39 percent from the prior 4-week average. The destination was Canada.
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