USDA Announces Soybean Sale to China

August 30, 2013 03:15 AM
 

 

 

Private exporters reported to USDA export sales of 110,000 MT soybeans to China for 2013-14, which begins Sept. 1.

Given the recent sharp rally back to challenge contract-highs in the November contract, the fact that China is buying any quantity of U.S. soybeans is positive news.

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.

Private exporters reported to the U.S. Department of Agriculture export sales of 110,000 metric tons of soybeans to China during the 2013/2014 marketing year.

The marketing year for wheat began on June 1 and 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, 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.

- See more at: http://www.fas.usda.gov/scriptsw/PressRelease/pressrel_dout.asp?Entry=valid&PrNum=0102-13#sthash.p3969cg6.dpuf
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