Soybean exports rise ahead of shift to South American market
The U.S. exported a robust 2.38 MMT of soybeans during the week ending Jan. 14, including 1.35 MMT destined for China. Export pace did not fall off much during the holidays, and last week’s shipments were notably strong for this time of year.
Net export sales were also very high and reflected just minor reductions, an interesting shift after two months of active weekly cancellations of previous sales to unknown destinations (often China); between Nov. 12 and Jan. 7, there were 5.98 MMT of reductions, nearly all being removed from sales to unknown destinations.
Net soybean export sales by season
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