USDA: US soybean sales are as expected, but fall sharply in the week for the old crop

The USDA (United States Department of Agriculture) brought its updated figures for weekly export sales, with corn data for the old crop below expectations and soybeans within expectations. SOY In the week ending June 27, weekly sales of soybeans from the 2023/24 harvest were 228.4 thousand tons, 19% lower than the previous week and 32% compared to the average of the last four. Furthermore, the volume was within the range expected by the market of 200 thousand to 600 thousand tons. China was the main destination for American soybeans. Throughout the season, the country has already committed 44,788.8 million tons of oilseed, compared to more than 52 million in the same period last year. The USDA estimates US exports at 46.27 million tons. Of the new harvest, sales totaled 150.3 thousand tons, against projections of 50 thousand to 150 thousand tons, with the majority being acquired by undisclosed destinations. CORN Weekly sales of corn, from the 2023/24 harvest, were 357.2 thousand ...