Soybean sales climb 32% from last week

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According to the USDA's latest U.S. Export Sales report, soybean net sales of 616,300 MT were up 32 percent from last week and 7 percent from the prior 4-week average.  

Increases were primarily for unknown destinations (159,500 MT), China (119,100 MT, including 60,000 MT switched from unknown destinations and decreases of 8,700 MT), Mexico (81,900 MT), Turkey (70,700 MT, including 52,000 MT switched from unknown destinations), and Japan (51,500 MT, including 18,000 MT switched from unknown destinations).  

Net sales of 57,100 MT for delivery in the 2012/2013 marketing year were primarily for Japan (38,100 MT) and Mexico (11,000 MT).  Decreases were reported for China (5,000 MT).  Exports of 569,900 MT were reported primarily to China (295,100 MT), Turkey (93,700 MT), Mexico (66,600 MT), Japan (51,600 MT), Canada (21,400 MT), and Indonesia (12,900 MT).   

Soybean futures closed mixed on Wednesday as export sales were expected to be down, adding additional pressure to prices. On Thursday futures opened 3 to 6 cents higher as global stocks are expected to tighten further.

  Sales 616,256 466,476 149,780
Average 528,653 601,609 592,090
High 926,225 1,159,407 1,159,407
Low 356,677 281,289 308,430

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