Mumbai, 16 Jan (Commoditiescontrol): The latest USDA weekly Export Sales Report has revealed a significant rebound in US soybean export sales for the 2024/2025 marketing year. Net sales of 569,100 metric tons (MT) for the week ending January 10 were up noticeably from the previous week, although down 27 percent from the prior four-week average.
China and Bangladesh emerged as the top buyers, with net sales of 213,900 MT and 179,200 MT, respectively. Other major destinations included Mexico, Indonesia, and Japan. However, these gains were partially offset by reductions in unknown destinations.
In terms of exports, the US shipped out 1,475,800 MT of soybeans, down 2 percent from the previous week and 9 percent from the prior four-week average. The primary destinations were China, Bangladesh, Taiwan, Indonesia, and Spain.
The report also highlighted a notable increase in soybean oil export sales, which rose 65 percent from the previous week and 92 percent from the prior four-week average. Venezuela, India, and Mexico were among the top buyers.
Meanwhile, soybean cake and meal export sales declined to a marketing-year low of 144,400 MT, down 42 percent from the prior four-week average. Morocco, Panama, and Canada were among the primary destinations.
Overall, the USDA report suggests that US soybean export sales are regaining momentum, driven by strong demand from China and Bangladesh. However, the ongoing volatility in global markets and trade policies will likely continue to influence the US soybean export landscape.
(By Commoditiescontrol Bureau: 09820130172)
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