Private exporters reported to USDA export sales of 120,000 MT of soybeans for delivery to China during the 2012-13 marketing year, the USDA said Tuesday. The 2012-13 marketing year for soybeans began Sept. 1.
U.S. exporters are required to report to the USDA any export sales activity of 100,000 MT or more of one commodity made in one day or quantities totaling 200,000 MT or more in any reporting period to one destination by 3:00 p.m. EST (2000 GMT) the next business day, according to the USDA's Foreign Agricultural Service. Any export sales under these quantities must be reported on a weekly basis.
Juli says: Following disappointing weekend rains in Argentina over the weekend, traders view the Chinese purchases of U.S. soybeans as supportive, as it raises concerns about the availability of South American supplies.