Private exporters reported to USDA export sales of 290,000 MT of soybeans to China during the 2013-14 marketing year. The marketing year for soybeans began Sept. 1.
While demand for old-crop U.S. soybeans has slowed, demand for new-crop soybeans is strong. This was also highlighted by this morning's weekly export sales data that showed net sales reductions of 109,800 MT for 2012-13 and net sales of 1,341,100 MT for 2013-14. There are also unconfirmed rumors of South American soybean imports into the Southeast U.S.
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.