Private exporters reported to USDA export sales of 120,000 metric tons (MT) of soybeans to China during the 2011-12 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, 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.
Juli says: China will need to move fast to get this sale across the ocean. Time is running out on getting old-crop soybean shipped by the end of the marketing year, which is Aug. 31.