Chemical News
-
US soybean net exports decrease 33.23% on week: USDA
https://www.chemnet.com Oct 19,2018 S&P Global Platts
US soybean net export sales for the 2018-19 marketing year were 293,566 mt for the week ending October 11, down 33.23% from the previous week, Department of Agriculture data showed Thursday.
The reported number was less than half of what was expected by analysts, who had an average estimated range of 600,000-1 million mt.
The low net sales were largely due to a reduction of 694,396 mt listed to unknown destinations. Notable sales were reported to Spain with 188,027 mt, the Netherlands with 113,572 mt and Mexico with 111,538 mt.
Since the 2018-19 marketing year began September 1, total commitments - cumulative exports plus outstanding sales - were reported at 2.084 million mt. That total represents 37.65% of the USDA's 56.064 million mt estimate exports for the entire marketing year.
Exports for the most recent week were 1.157 million mt, 30.86% higher than the previous week. Total accumulated physical exports for the 2018-19 marketing year rose to 5.063 million mt, 28.09% lower than the year-ago period, according to USDA data.
The top soybean export destinations for the week were Spain with 188,027 mt, Vietnam with 139,662 mt, China with 134,730 mt and the Netherlands with 113,572 mt.
Net sales are considered a more appropriate indicator of the strength of the soybean market than the physical exports, because they reflect new sales activity.
Print | 
add to Favorites | 
Close
International Chemical Exhibition
-
Advertisement
-
