Private exporters reported to USDA export sales of 116,000 MT of soybeans to China for 2014-15, which begins Sept. 1.
The fresh demand is good news for new-crop contracts, as China's bookings for the upcoming marketing year are off to a very strong start. As of January 30, USDA reports China has booked 2,303,500 MT of U.S. soybeans for 2014-15, compared to 3,089,300 MT a year-ago.
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 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.