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Net sales of US soybeans reached another marketing-year
low last week, according to the US Department of Agriculture (USDA),Soybean net sales in the week ended 23 December slipped to 524,000t, a 35pc decline from the week prior, as 494 ,500 /T of sales to unknown destinations were canceled.

The cancellations to unknown destinations were large enough to offset soybean sales to China, Turkey, the Netherlands, Thailand and the UK.Soybean exports also moved lower on the week by 7pc to 1.72mn t. China took the most soybeans at 944,600t, followed by Turkey with 119,500t. In the marketing year begun 1 September, soybean exports have totaled 28.94mn t, down by 22pc from the same period last year.

China, the main US soybean importer, has taken 18.62mnt during the marketing year, nearly 30pc less than the sameperiod last year. Outstanding sales to China are currently at 4.81mn t, 23pc lower on the year.

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