Private exporters reported to USDA export sales of 21,000 metric tons (MT) of soybean oil for delivery to China during the 2012-13 marketing year. The marketing year for soybean oil began Oct.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, except 20,000 MT 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: This sales announcements comes as a surprise to the market as China is celebrating a national holiday this week and no business was expected.