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US soybean weekly net export sales soar 123.3% on week: USDA

US soybean net export sales for the 2018-19 marketing year totaled 575,512 mt in the week that ended June 13, up 123.3% compared with the previous week and 34% above the average for the prior four weeks, US Department of Agriculture data showed Thursday.

Since the 2018-19 marketing year began September 1, total commitments – cumulative exports plus outstanding sales – have reached 47.509 million mt, some 15.7% below commitments in the same period last year. This year’s commitments represent 98.4% of the USDA’s 48.308 million mt estimate of exports for the entire marketing year.

Outstanding sales were reported at 11.101 million mt, up 34% from the same period last year, and included 6.009 million mt listed for China.

The top destinations for the most recent week’s net export sales were unknown destinations with 141,400 mt, Egypt with 110,000 mt and the Netherlands with 82,634 mt.

Net export sales reflect new sales activity and are considered to be a more accurate indicator of market strength than physical exports.
Source: https://www.spglobal.com/platts/en/market-insights/latest-news/agriculture/062019-us-soybean-weekly-net-export-sales-soar-1233-on-week-usda

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