U.S. Exports: soybean sales fall
According to the USDA's latest U.S. Export Sales report, soybean net sales of 468,600 MT for the 2011/2012 marketing year resulted as increases for China (354,200 MT), Japan (66,400 MT, including 29,000 MT switched from unknown destinations and decreases of 4,100 MT), Mexico (18,800 MT), Taiwan (14,700 MT), Israel (8,000 MT), and Indonesia (7,400 MT), were partially offset by decreases for Vietnam (7,600 MT) and unknown destinations (1,900 MT).
Options exercised to export the commodity from the United States were for China (66,000 MT). Exports of 1,008,300 MT were reported primarily to China (772,100 MT), Japan (98,900 MT), Mexico (65,600 MT), Taiwan (26,400 MT), Canada (19,500 MT), and Indonesia (14,400 MT).
Soybean futures closed strongly lower on Wednesday as strength in the dollar index and weaknesses in the stock market triggered fund long liquidation in the soybean market. On Thursday soybeans opened 6 to 7 cents higher.