Soybean exports improve from last week

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According to the USDA's U.S. Export report released on Sept. 29, soybean net sales of 1,033,500 MT for the 2011/2012 marketing year were mainly reported for China (845,600 MT, including 113,000 MT switched from unknown destinations), Mexico (190,800 MT), Egypt (27,000 MT), Japan (21,500 MT), Indonesia (19,100 MT, including 2,000 MT switched from Taiwan), and Turkey (16,500 MT).  

Optional origin sales were reported for China (66,000 MT).  Exports of 321,900 MT were primarily reported to China (177,500 MT), Mexico (60,900 MT), Egypt (24,300 MT), Japan (20,600 MT), and Indonesia (14,000 MT).

Soybean futures were sharply lower on Wednesday as concerns about the global economy triggered funds to liquidate long positions. On Thursday soybeans were called 4 cents lower.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 1,033,469 404,362 629,107
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 521,277 271,909 300,565
High 2,726,720 2,726,720 2,726,720
Low 8 8 -405,598
 
 
Chart

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