USDA Announces Soybean Sale to Unknown Destinations

June 28, 2012 03:02 AM

Private exporters reported to USDA export sales of 110,000 metric tons (MT) of soybeans to unknown destinations during the 2012-13 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: Continued strong demand increases the need for a large U.S. crop. But those hopes are being dashed by a record heat wave across the Corn Belt and spreading drought conditions. Saving rains could come later in the season, as August is a key month for bean production (but growth in June and July are also key).

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