China Books More New-Crop U.S. Soybeans

April 23, 2013 03:05 AM

Private exporters reported to USDA export sales of 392,000 MT of soybeans to China during the 2013-14 marketing year. The marketing year for soybeans began Sept. 1.

Yesterday, USDA announced a 174,000 MT soybean sale to China for the upcoming marketing year. China has been actively buying U.S. soybeans for the 2013-14 marketing year, signaling their interest in booking U.S. beans remains high.

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, except 20,000 tons for soybean oil, made in one day 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.

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