Soybean net sales climb

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According to the USDA's latest U.S. Export Sales report, soybean net sales of 746,100 MT for the 2011/2012 marketing year resulted as increases for China (517,100 MT, including 126,000 MT switched from unknown destinations and decreases of 161,600 MT), unknown destinations (126,500 MT), Mexico (54,300 MT), Taiwan (17,500 MT), Japan (16,900 MT, including 18,000 MT switched from unknown destinations and decreases of 1,700 MT), and Thailand (7,500 MT), were partially offset by decreases for Tunisia (3,200 MT).  

Net sales of 5,100 MT for delivery in 2012/2013 were for Japan.   Exports for own account were reported for Canada (29,400 MT).  Exports of 1,428,600 MT were primarily reported to China (1,213,500 MT), Mexico (113,600 MT), Tunisia (26,800 MT), Japan (26,000 MT), Indonesia (17,100 MT), and Taiwan (12,700 MT).   

Soybean futures traded solidly lower on Wednesday as profit-taking on the recent rally and outside markets weighed on soybean futures. On Thursday soybean futures were called 4 to 5 cents lower.

REPORT THIS WEEK LAST WEEK DIFFERENCE
  Sales 746,143 604,012 142,131
 
SALES 10 WEEKS 27 WEEKS THIS YEAR
Average 554,611 389,945 337,285
High 1,033,469 2,726,720 2,726,720
Low 209,702 8 -405,598
 
 
Chart

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