US weekly soybean sales come weak and mark the low of the 2022/23 season

Published Mar 2, 2023

Tridge summary

The USDA reported expected sales for North American exports of soybeans, derivatives, and corn. Soybean sales were the lowest of the season at 360.7 thousand tons, but within expected ranges and primarily to China. Corn sales were also within expectations at 598.1 thousand tons, mostly to Mexico. Soybean meal sales were 172,400 tons, with Ecuador as the main buyer, and soybean oil sales were 1,200 tons to Canada.

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

Original content

The numbers of weekly sales for North American exports released this Thursday (2) by the USDA (United States Department of Agriculture) came in as expected for soybeans, derivatives and corn. SOY Soybean sales in the week ended February 23 were 360.7 thousand tons, the lowest weekly volume recorded in the 2022/23 season. Still, the number came within the range expected by the market from 300,000 to 850,000 tons. China was the main destination for oilseeds from the US, accounting for the purchase of more than 218 thousand tons. In every season, the country has committed 48,813.8 million tons, against more than 50 million in the same period last year. The USDA estimates total US soybean exports to be 54.16 million tons. "Traders commented, last week, on three ships to China for shipment in October. The American soy program continues to grow", explains the analyst of the soy complex at Agrinvest, Eduardo Vanin. 134,000 tons of soybeans from the 2023/24 harvest were also sold, 132,000 ...

Source: NoticiasAgricolas