US soybean exports have hit a new high
Published by Oliver Kleinschmidt,
Assistant Editor
Dry Bulk,
The United States Department of Agriculture (USDA) has reported net soybean sales of 3 918 400 t for 2023/2024 – a marketing-year high – which was up from the previous week and from the prior four-week average. The increase has been primarily owed to China (2 614 600 t, including 198 000 t switched from unknown destinations and decreases of 5500 t).
Unknown destinations accounted for 721 300 t, the Netherlands accounted for 123 500 t, including 117 000 t switched from unknown destinations. Vietnam was responsible for 72 600 t, including 66 000 t switched from unknown destinations, and Turkey imported 72 300 t, including 66 000 t switched from unknown destinations. This was offset by reductions for Colombia by 1000 t, Barbados 200 t, and Costa Rica 100 t.
Exports of 1 991 300 t were down 11% from the previous week and 7% from the prior four-week average. The primary export destinations were to China 1 221 700 t, the Netherlands 123 500 t, Bangladesh 122 500 t, Mexico 109 100 t, and Vietnam 79 900 t.
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