Exports: Corn posts small rebound, soybean idles
Net sales of 867,000 MT for delivery in the 2013-2014 marketing year were for China (694,000 MT) and unknown destinations (173,000 MT). Exports of 1,134,700 MT were down 11 percent from the previous week and 3 percent from the prior 4-week average. The primary destinations were China (703,000 MT), Mexico (82,500 MT), the Netherlands (76,200 MT), Vietnam (67,900 MT), and Turkey (44,000 MT).
Optional Origin Sales: For MY 2013/2014, outstanding optional origin sales total 246,000 MT, all China.
Some wire service reports on Wednesday cited fresh news of soybean sales to China for a portion of the day jump by soybean futures, but the fact that those deliveries were deferred to the 2013-14 crop year robbed the news of its market-moving power. On Thursday March beans dropped 9 cents to $14.69 3/4 per bushel in early morning activity, while March soyoil slipped 0.05 cents to 52.55 cents/pound and March meal slumped $3.6 to $429.1/ton.
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