Soybean net sales up slightly
According to the USDA's latest U.S. Export sales report, soybean net sales of 404,400 MT for the 2011/12 marketing year were mainly reported for China (176,300 MT), Japan (70,400 MT, including 36,000 MT switched from unknown destinations and decreases of 100 MT), unknown destinations (62,000 MT), Mexico (59,600 MT), Taiwan (15,500 MT), and Malaysia (8,000 MT).
Exports of 235,300 MT were primarily reported to China (119,800 MT), Japan (45,900 MT), Mexico (31,000 MT), Taiwan (13,300 MT), and Indonesia (10,600 MT).
Soybean futures closed strongly lower on Wednesday. On Thursday, futures were called 22 to 23 cents lower as a broad based commodity sell-off is being driven by outside markets.