Private exporters reported to USDA export sales of 105,000 MT of soybeans to unknown destinations 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 MT 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 3:00 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: Many of the "unknown" sales ultimately get switched to China, which is not a surprise given their strong demand for U.S. soybeans. But the market has a challenge in finding a price that rations usage... the export sales pace is running well ahead of what's needed to reach USDA's forecast.