Private exporters reported to USDA he following activity:
- Export sales of 1,930,000 MT of soybeans to China during the 2013-14 marketing year; and
- Export sales of 182,000 metric tons of soybeans to unknown destinations during the 2013-14 marking year.
The purchases are part of China's "buy America" tour, as the trade refers to it, which has become a near-annual event. A Chinese trade delegation is currently in the U.S. and is expressing their commitment to remain a strong buyer of U.S. soybeans.
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, 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.