NEW DELHI, Jan 11: US soybean net sales were at 280,400 MT for the week ended January 4 in the marketing year 2023/2024 starting September 1, up 39 percent from the previous week, but down 74 percent from the prior 4-week average.
US soybean net sales were at 201,600 MT for the week ended December 28.
Increases were primarily for Japan (85,600 MT, including 80,400 MT switched from unknown destinations and decreases of 200 MT), China (81,900 MT, including 66,000 MT switched from unknown destinations and decreases of 80,100 MT), Spain (70,700 MT, including 66,000 MT switched from unknown destinations), Bangladesh (54,200 MT, including decreases of 800 MT), and South Korea (53,800 MT, including 50,000 MT switched from unknown destinations), were offset by reductions for unknown destinations (194,400 MT), Venezuela (3,300 MT), and Costa Rica (3,100 MT).
Exports of 862,300 MT were down 14 percent from the previous week and 27 percent from the prior 4-week average. The destinations were primarily to China (357,300 MT), Mexico (126,400 MT), Japan (97,600 MT), Spain (70,700 MT), and Bangladesh (55,100 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).
Soybean Cake and Meal
Net sales of 65,400 MT for 2023/2024 were down 20 percent from the previous week and 68 percent from the prior 4-week average.
Increases primarily for South Korea (50,000 MT switched from unknown destinations), Ireland (21,900 MT, including 20,000 MT switched from unknown destinations), Venezuela (18,100 MT, including 20,100 MT switched from Colombia and decreases of 2,000 MT), Canada (10,500 MT), and Mexico (8,300 MT, including decreases of 3,800 MT), were offset by reductions for unknown destinations (71,600 MT), Indonesia (4,200 MT), Costa Rica (4,100 MT), Honduras (2,400 MT), and Belgium (1,400 MT).
Net sales of 800 MT for 2024/2025 were reported for Mexico (700 MT) and Canada (100 MT). Exports of 199,400 MT were down 24 percent from the previous week and 30 percent from the prior 4-week average.
The destinations were primarily to the Philippines (54,200 MT), Colombia (31,600 MT), Ireland (21,900 MT), Venezuela (18,100 MT), and Mexico (17,100 MT).
Soybean Oil
Net sales reductions of 1,500 MT for 2023/2024 were down noticeably from the previous week and from the prior 4-week average. The destination was Canada, including decreases of 1,600 MT.
Exports of 600 MT were up 5 percent from the previous week and 62 percent from the prior 4-week average. The destinations were to Canada (500 MT) and Mexico (100 MT).
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