As of Dec. 24, the U.S. had exported 79 percent more soybeans this season than last year to date. Most-recent four-week exports totaled 10.2 MMT, down slightly from the four-week total for November.
Of the 2.4 MMT exported during the week of Dec. 24, almost 1.5 MMT were destined for China, a bit higher than the previous week’s volume.
Weekly net sales were 695,400 MT, more than double the previous week’s sales despite continued heavy reductions, which were around 588,100 MT for unknown destinations. During the week, China placed new orders for 214,700 MT of 2020/21 soybeans and shifted another 405,000 MT previously categorized as for unknown destinations. Outstanding sales to China ended the week at 6.2 MMT.
Total outstanding sales for 2020/21 were 17.5 MMT, down 9 percent from the previous week, as orders continue to be briskly shipped—and reductions also chip away at the volume. Total commitments were near 54.9 MMT, almost 94 percent of USDA’s current season forecast.