U.S. private exporters reported sales of 264,000 tonnes of soybeans to China on Friday

WASHINGTON, March 13: Private exporters reported sales of 264,000 tonnes of U.S. soybeans to China for delivery in 2022/23, the U.S. Department of Agriculture said in a one-day export sales report on Friday.

Recently, the U.S. Department of Agriculture has successively released one-day soybean sales reports, reflecting the worsening prospects for soybean production in South America, prompting buyers such as China to speed up their purchases of soybeans from the United States.

Since the outbreak of the Russia-Ukraine crisis on February 24, U.S. exporters have reported cumulative sales of 2.22 million tons of soybeans to China and unknown destinations from February 25 to March 11, of which 966,000 tons were delivered in 2021/22. The remainder is due for delivery in 2022/23.

Since the last weekly export sales report, U.S. exporters have reported accumulative sales of 634,000 tons of soybeans to China from March 4 to March 11 (172,000 tons in 2021/22, remaining in 2022/23); report on unknown Destination sales of 251,000 tons of soybeans for delivery in 2021/22; reported sales of 108,900 tons of soybeans to Mexico.

The U.S. soybean year begins on September 1.

The USDA publishes a weekly report on export sales, in addition to a daily report on export sales. If the exporter has any single commodity sales activity of 100,000 tons or more in a single business day, or sales of 200,000 tons or more in the reporting period, the next business day must be 3:00 p.m. Prior to making a report to the USDA. If the volume is lower than the above requirements, report it on a weekly basis.