Private exporters reported to USDA export sales of 110,000 metric tons (MT) of soybeans to China during the 2012-13 marketing year, which 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 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: Chinese buyers see current prices as a "value" given they have dropped sharply from the highs.