Soybean exports drop slightly

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According to the latest USDA U.S. Export Sales report, soybean net sales of 672,400 MT for the 2011/12 marketing year were mainly reported for China (559,900 MT, including 58,000 MT switched from unknown destinations and decreases of 1,900 MT), Mexico (80,300 MT), Thailand (61,300 MT, including 50,900 MT switched from Japan), Canada (25,900 MT), Indonesia (12,500 MT), and Taiwan (9,600 MT).  

Exports of 602,800 MT were primarily reported to China (421,900 MT), Mexico (114,900 MT), Cost Rica (23,200 MT), Indonesia (13,900 MT), and Japan (6,700 MT).

Soybean futures closed higher on Thursday as pricies ralied late in the session to turn positive and post solid gains. On Friday futures opened 6 to 8 cents higher in overnight trading.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 672,392 701,783 -29,391
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 646,072 319,962 319,891
High 2,726,720 2,726,720 2,726,720
Low 8 8 -405,598
 
 
Chart

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