USDA Reports Another New-Crop Soybean Purchase

08:13AM May 09, 2013
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Private exporters reported to USDA export sales of 110,000 MT of soybeans to China during the 2013-14 marketing year. The marketing year for soybeans began Sept. 1.

The sale isn't expected to be a supportive factor for the market this morning as traders are focused on negative outside markets and rains moving across the Corn Belt.

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.