Export sales of soybeans from the United States decreased in the reporting week

Published Mar 3, 2023

Tridge summary

The article highlights a significant decrease in the volume of American soybean export sales in a recent reporting week, with figures reaching the minimum for the current marketing year. The US Department of Agriculture reported sales of 360,700 tons for the 2022-2023 marketing year, largely due to the cancellation of a sale of 300,700 tons to unknown buyers. The total soybean export volume for both the current and next marketing years fell below traders' forecasts, also impacting corn and wheat export sales. The largest buyers of soybeans included China, Germany, and Mexico, but the overall export volumes for corn and wheat also remained low, aligning with lower forecasts.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The volume of export sales of American soybeans in the reporting week fell to a minimum for the current marketing year. This was announced on Thursday by the US Department of Agriculture, Reuters reports. According to the ministry, in the week of February 17-23, export sales of soybeans for delivery in the marketing year 2022-2023 amounted to 360,700 tons, which was the minimum for the current marketing year. Sales of soybeans for delivery in 2023-2024 amounted to 134,000 tons. The total volume of soybean exports for delivery in 2022-2023 and 2023-2024 was at the lower end of the forecast range of traders surveyed by the Wall Street Journal. They believed sales were 300,000-975,000 tons. Such a low figure is due to the cancellation of the sale of 300,700 tons of soybeans to unknown buyers. The largest buyers of American ...

Source: Zol