USDA Announces Another New-Crop Soybean Sale

July 31, 2013 03:11 AM

Private exporters reported to USDA export sales of 120,000 MT soybeans to unknown destinations during the 2013-14 marketing year, which begins Sept. 1

This following yesterday's sale of 290,000 MT of new-crop soybeans to an unknown buyer, which reflects prices are attracting fresh demand. Traders suspect the sale is to China.

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, 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.

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