Net 2019/20 soybean export sales were just 683,783 MT for the week ending Nov. 28. Buying activity may have been slowed by the holiday, but there were also 142,500 MT of reductions. Outstanding sales ended the week at 9.96 MMT (365.83 million bushels), down 9 percent from last season to date.
Soybean exports were just under 1.50 MMT, down 33 percent from the previous week, and raised cumulative exports to 16.05 MMT (589.89 million bushels), up 24 percent YOY.
Shipments to China, at 1.02 MMT, made up 68 percent of the week’s exports, a repeat of its share the previous week when exports destined to China were 1.53 MMT. By the end of November, the U.S. had exported 6.58 MMT of soybeans to China, more than double the exported volume after the first week of the month. China’s purchases have slowed down, however, and its net orders were just 298,617 MT for the week. As of Nov. 28, outstanding sales to China totaled 3.02 MMT.