Private exporters reported to USDA export sales of 116,000 metric tons (MT) of soybeans to China during the 2011-12 marketing year. The marketing year for 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.
Juli says: This sale follows daily soybean sales announcements made from USDA on Monday and Tuesday, both to unknown destinations. An increase in export sales this week sends a strong message about China's concerns about the South American crop.