USDA: Soybean net sales up slightly

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According to the USDA's latest U.S. Export report, soybean net sales of 653,400 MT for the 2011/2012 marketing year resulted as increases for China (189,000 MT), Canada (87,500 MT), Indonesia (76,500 MT, including 51,000 MT switched from unknown destinations and decreases of 300 MT), South Korea (57,700 MT, including 55,100 MT switched from unknown destinations), Mexico (43,200 MT), and unknown destinations (36,900 MT).  

Net sales of 75,000 MT for delivery in 2012/2013 were reported for unknown destinations.  Exports of 934,200 MT were reported primarily to China (599,400 MT), Indonesia (74,000 MT), South Korea (58,200 MT), Taiwan (44,700 MT), Canada (41,100 MT), and Mexico (29,900 MT).

Soybean futures closed higher on Wednesday as the market rallied late in the session as the dollar index turned lower. On Thursday soybeans opened 1 to 2 cents higher.

  Sales 653,404 468,610 184,794
Average 568,583 497,946 369,629
High 921,632 2,726,720 2,726,720
Low 209,702 8 -405,598

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