Private exporters reported to USDA export sales of 225,000 metric tons (MT) of soybeans for delivery to unknown destinations. Of the total 110,000 MT is for delivery during the 2011-12 marketing year and 115,000 MT is for delivery during the 2012-13 marketing year.
The marketing year for soybeans began Sept. 1. USDA issues both daily and weekly export sales reports to the public. Exporters are required to report to USDA any export sales activity of 100,000 metric tons or more of one commodity, made in one day or quantities totaling 200,000 MT or more in any reporting period, to one destination, by 3 p.m. Eastern time on the next business day following the sale. Export sales of less than these quantities must be reported to USDA on a weekly basis.
Juli says: Traders suspect the business is ultimately for China. Fresh demand news is needed to keep bulls interested in buying soybeans.