USDA: Soybean sales climb

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According to the USDA's latest U.S. Export Sales report, soybean net sales of 460,100 MT were up 13 percent from last  week and unchanged from the 4-week average.

Increases were primarily for China (134,500 MT), Indonesia (108,200 MT, including 92,000 MT switched from unknown destinations), the Netherlands (76,000 MT, including 70,000 MT switched from unknown destinations), South Korea (57,700 MT, including 58,000 MT switched from unknown destinations and decreases of 300 MT), and Turkey (32,000 MT).  Decreases were reported for unknown destinations (94,000 MT).  Net sales of 176,300 MT for delivery in the 2012/2013 marketing year were for China (170,000 MT) and Japan (6,300 MT).  Exports of 773,800 MT were reported primarily to China (260,500 MT), Indonesia (173,200 MT), Mexico (142,300 MT), the Netherlands (76,000 MT), South Korea (58,100 MT), and Taiwan (30,200 MT).

Soybean futures ended lower on Wednesday, marking the third consecutive day of lower closes for soybeans. On Thursday soybeans opened 4 to 8 cents higher.   

  Sales 460,136 406,931 53,205
Average 606,891 576,693 590,609
High 1,159,407 1,159,407 1,159,407
Low 356,677 209,702 308,430

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