Private exporters reported to USDA the following activity:
- Export sales of 120,000 MT of soybeans for delivery to China during the 2012-13 marketing year; and
- Export sales of 40,000 MT of soybean oil for delivery to unknown destinations during the 2012-13 marketing year.
The marketing year for soybeans began Sept. 1 and 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, 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: The sales reflect value-buying on the part of the importers. China has been waiting on a price slide to increase sales and expectations are for them to become an active buyer at current prices.