NEW DELHI, March 14: US soybean net sales were at 376,000 MT for the week ended March 7 in the marketing year 2023/2024 starting September 1, down 39 percent from the previous week, but up 55 percent from the prior 4-week average.
US soybean net sales were at 613,500 MT for the week ended February 29.
Increases were primarily for China (256,100 MT, including 187,000 MT switched from unknown destinations and decreases of 4,100 MT), Germany (142,700 MT), Indonesia (73,300 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT), the Netherlands (69,000 MT, including 60,000 MT switched from unknown destinations), and Mexico (66,700 MT, including decreases of 34,800 MT), were offset by reductions for unknown destinations (310,800 MT).
Net sales of 94,300 MT for 2024/2025 were reported for unknown destinations (60,000 MT) and Mexico (34,300 MT).
Exports of 947,900 MT were down 33 percent from the previous week and 24 percent from the prior 4-week average. The destinations were primarily to China (400,300 MT), Germany (142,700 MT), Mexico (97,200 MT), Indonesia (79,800 MT), and the Netherlands (69,000 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).
Export Adjustments: Accumulated exports of soybeans to the Netherlands were adjusted down 142,736 MT for the week ending February 22nd. The correct destination for this shipment is Germany.
Soybean Cake and Meal
Net sales of 209,500 MT for 2023/2024 were up 33 percent from the previous week, but down 18 percent from the prior 4-week average.
Increases primarily for Italy (77,000 MT, including 72,000 MT switched from unknown destinations), Mexico (37,500 MT), Colombia (35,700 MT, including 20,000 MT switched from unknown destinations), Spain (32,900 MT switched from unknown destinations), and Canada (14,700 MT), were offset by reductions primarily for unknown destinations (35,000 MT), Costa Rica (1,000 MT), Panama (800 MT), Belgium (600 MT), and Jamaica (200 MT).
Net sales of 96,300 MT for 2024/2025 were reported for unknown destinations (96,000 MT) and Canada (300 MT). Exports of 373,100 MT were down 3 percent from the previous week, but up 15 percent from the prior 4-week average.
The destinations were primarily to Italy (77,000 MT), Mexico (55,800 MT), the Philippines (50,300 MT), Spain (32,900 MT), and New Zealand (32,300 MT).
Soybean Oil
Net sales of 11,200 MT for 2023/2024 were down 62 percent from the previous week, but up 67 percent from the prior 4-week average.
Increases were reported for Mexico (7,000 MT) and Canada (4,200 MT).
Total net sales of 6,900 MT for 2024/2025 were for Mexico. Exports of 1,800 MT--a marketing-year high--were up noticeably from the previous week and up 81 percent from the prior 4-week average. The destinations were to Mexico (1,400 MT) and Canada (400 MT).
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