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US Soybean net sales for May 10-16 at 279,400 MT, up 5 percent W/W

23 May 2024 6:21 pm
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NEW DELHI, May 23: US soybean net sales were at 279,400 MT for the week ended May 16 in the marketing year 2023/2024 starting September 1, up 5 percent from the previous week, but down 15 percent from the prior 4-week average.

US soybean net sales were at 265,700 MT for the week ended May 9.

Increases were primarily for Japan (73,500 MT, including 50,000 MT switched from unknown destinations and decreases of 100 MT), unknown destinations (70,700 MT), Egypt (55,000 MT), Costa Rica (31,500 MT), and Indonesia (25,300 MT, including decreases of 100 MT), were offset by reductions for Thailand (44,500 MT) and Mexico (3,300 MT).

Net sales of 65,500 MT for 2024/2025 reported for unknown destinations (60,000 MT), Indonesia (6,000 MT), Taiwan (5,000 MT), and Japan (100 MT), were offset by reductions for Malaysia (5,600 MT).

Exports of 258,800 MT--a marketing-year low--were down 42 percent from the previous week and 28 percent from the prior 4-week average. The destinations were primarily to Mexico (87,800 MT), Japan (61,200 MT), Indonesia (24,000 MT), South Korea (20,400 MT), and Vietnam (16,500 MT).

Exports for Own Account: For 2023/2024, the current exports for own account outstanding balance of 3,300 MT are for Canada (1,400 MT), Taiwan (900 MT), Bangladesh (500 MT), and Malaysia (500 MT).

Late Reporting: For 2023/2024, net sales and exports totaling 8,065 MT of soybeans were reported late for Canada.

Soybean Cake and Meal

Net sales of 145,300 MT for 2023/2024 were down 52 percent from the previous week and 39 percent from the prior 4-week average.

Increases primarily for Venezuela (37,000 MT, including 20,000 MT switched from Panama), the Dominican Republic (24,800 MT, including 8,000 MT switched from unknown destinations and decreases of 2,000 MT), Mexico (21,100 MT), Honduras (17,200 MT, including decreases of 9,900 MT), and Canada (11,200 MT), were offset by reductions for Panama (4,100 MT), the Philippines (1,500 MT), Burma (1,000 MT), Japan (600 MT), and Nicaragua (500 MT).

Net sales of 51,400 MT for 2024/2025 were reported for Canada (41,900 MT) and Mexico (9,500 MT).

Exports of 178,800 MT were down 15 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to Vietnam (52,500 MT), Mexico (32,300 MT), Tunisia (31,100 MT), Canada (18,500 MT), and Panama (9,900 MT).

Soybean Oil

Net sales reductions of 1,000 MT for 2023/2024 were down noticeably from the previous week and from the prior 4-week average.

Increases reported for Colombia (11,500 MT, including decreases of 400 MT), the Dominican Republic (1,500 MT, including decreases of 3,500 MT), Canada (800 MT), and Mexico (200 MT), were more than offset by reductions for Jamaica (15,000 MT).

Total net sales of 4,000 MT for 2024/2025 were for Venezuela. Exports of 20,600 MT--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average.

The destinations were to Colombia (14,800 MT), the Dominican Republic (3,500 MT), Mexico (2,000 MT), and Canada (300 MT).

(By Commoditiescontrol Bureau; +91-9820130172)

       
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