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US soybean exports increase 165% week on week: USDA
1,584views 2015-07-20 17:12US soybean oil net export sales rose 2,249 mt, or 165%, in the week ended July 9, data from the US Department of Agriculture showed.
Soybean oil net export sales increased to 3,611 mt for the reporting week ended July 9 from 1,362 mt in the prior week. Weekly physical exports for soybean oil dropped 2,290 mt to 1,196 mt.
The top countries to which the US sold current marketing year soybean oil were Jamaica at 3,500 mt, Panama at 49 mt and Lebanon at 24 mt.
The top weekly physical soybean oil export destinations were Mexico at 1,046 mt, Canada at 111 mt, and Trinidad and Tobago at 24 mt.
Net sales are considered a more appropriate indicator for the strength of the soybean oil market. The difference between weekly net export sales and weekly exports is timing, with the agricultural products first bought — the weekly net export sales figure — and then physically exported, which is the weekly physical export figure.
Source: Platts -
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