Soybean sales dip 22 percent

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According to the USDA's U.S. Export Sales report, soybean net sales of 466,500 MT were down 22 percent from last week and 19 percent from the 4-week average.  

Increases were primarily for China (176,800 MT), Mexico (146,600 MT), Egypt (70,000 MT), Malaysia (29,300 MT, including 24,000 MT switched from unknown), and Tunisia (28,000 MT).  Decreases were reported for unknown destinations (43,500 MT) and Israel (14,300 MT).  

Net sales of 1,360,500 MT for delivery in the 2012/2013 marketing year were primarily for China (911,000 MT) and unknown destinations (386,500 MT).  Exports of 305,600 MT were reported primarily to China (72,400 MT), Mexico (71,700 MT), Japan (35,700 MT), Malaysia (28,600 MT), Canada (20,200 MT), and Costa Rica (18,700 MT).   

Soybean futures closed lower on Wednesday. Futures were trading higher as of 6:45 CDT in anticipation of the USDA's WASDE report.

  Sales 466,476 597,955 -131,479
Average 568,544 601,156 590,748
High 1,015,167 1,159,407 1,159,407
Low 356,677 281,289 308,430

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