NEW DELHI, Feb 8: US soybean net sales were at 340,800 MT for the week ended February 1 in the marketing year 2023/2024 starting September 1, up noticeably from the previous week, but down 24 percent from the prior 4-week average.
US soybean net sales were at 164,500 MT for the week ended January 25.
Increases were primarily for China (307,800 MT, including 332,000 MT switched from unknown destinations and decreases of 2,500 MT), Mexico (240,000 MT, including decreases of 2,900 MT), the Netherlands (134,500 MT, including 127,000 MT switched from unknown destinations), Bangladesh (60,100 MT, including 55,000 MT switched from China), and Japan (49,600 MT, including 37,800 MT switched from unknown destinations and decreases of 300 MT), were offset by reductions primarily for unknown destinations (494,900 MT).
Total net sales of 9,200 MT for 2024/2025 were for Japan. Exports of 1,654,800 MT were up 74 percent from the previous week and 44 percent from the prior 4-week average.
The destinations were primarily to China (1,152,100 MT), the Netherlands (134,500 MT), Mexico (118,700 MT), Bangladesh (59,900 MT), and Turkey (59,700 MT).
Exports for Own Account: For 2023/2024, the current exports for own account outstanding balance of 2,200 MT are for Canada (1,400 MT) and Taiwan (800 MT).
Soybean Cake and Meal
Net sales of 284,400 MT for 2023/2024 were down 43 percent from the previous week and 2 percent from the prior 4-week average.
Increases primarily for Ecuador (89,800 MT, including decreases of 200 MT), Mexico (58,800 MT, including decreases of 6,900 MT), Vietnam (51,900 MT, including 50,000 switched from unknown destinations and decreases of 100 MT), Nicaragua (24,000 MT), and Guatemala (14,300 MT), were offset by reductions for unknown destinations (51,900 MT), Belgium (1,400 MT), and Japan (300 MT).
Total net sales of 400 MT for 2024/2025 were for Canada. Exports of 279,300 MT were down 1 percent from the previous week, but up 5 percent from the prior 4-week average.
The destinations were primarily to the Philippines (69,000 MT), Vietnam (57,700 MT), Mexico (42,400 MT), Venezuela (29,700 MT), and Canada (20,400 MT).
Soybean Oil
Net sales of 1,200 MT for 2023/2024 were up 16 percent from the previous week, but down noticeably from the prior 4-week average.
Increases were primarily for Mexico (1,000 MT - late) and Canada (100 MT). Total net sales of 100 MT for 2024/2025 were for Canada.
Exports of 300 MT--a marketing-year low--were down 48 percent from the previous week and 40 percent from the prior 4-week average. The destination was Canada.
Late Reporting: For 2023/2024, net sales totaling 1,023 MT of soybean oil were reported late for Mexico.
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