News

Soybeans/USDA: USA sells 55.9 thousand tons of the 2023/24 harvest in the week

Soybean
United States
Market & Price Trends
Published Feb 24, 2024

Tridge summary

US soybean sales for the 2023/24 harvest experienced a significant drop of 84% in the week ending February 15, with only 55.9 thousand tons sold, primarily to China, Indonesia, South Korea, Japan, and the Dominican Republic. This figure fell short of analysts' predictions, which anticipated sales between 300 and 800 thousand tons. No sales or cancellations were reported for the 2024/25 business year.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

By Ana Ritti, with information from Dow Jones Newswires São Paulo, 02/23/2024 - United States exporters reported sales of 55.9 thousand tons of soybeans from the 2023/24 harvest, including cancellations, in the week ending February 15, the Department of Agriculture of the United States recently reported. United States (USDA). The volume - the lowest recorded in the commercial year - represents a decline of 84% compared to the previous week and in relation to the average of the previous four weeks. The main buyers in the week were China (391.7 thousand t), Indonesia (128.3 thousand t), South Korea (61 thousand t), Japan (34.9 thousand t) and the Dominican Republic (8.1 thousand t ), which compensated for cancellations made by undisclosed destinations (591.7 thousand t). For the 2024/25 business year, no sales or cancellations were reported. The total sold was below analysts' estimates, which ranged from sales of 300 thousand tons to 800 thousand tons. Shipments for the period ...
Source: Broadcast
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