WASHINGTON, D.C., U.S. — The U.S. Department of Agriculture (USDA) said on Jan. 24 that China bought 510,000 tonnes of soybeans from U.S. private exporters. It was China’s second purchase of U.S. soybeans reported this week.
The USDA also reported a sale of 113,000 tonnes of soybeans to unknown destinations. On Jan. 22, the USDA reported a sale of 120,000 tonnes of soybeans to China. All three sales were for delivery in the 2013-14 marketing year that begins Sept. 1, 2013.
Export sales activity of 100,000 tonnes or more of a single commodity to one destination (20,000 tonnes for soybean oil) must be reported to the USDA by 3 p.m. Eastern Time the next business day. Smaller quantities of grains and soy complex products are reported in the USDA’s weekly export sales report normally released on Thursday. That report is delayed to Jan. 25 this week because of the Monday holiday.
In the export sales report for the week ended Jan. 10, the USDA said China bought 845,600 tonnes of U.S. soybeans for delivery in 2012-13 and an additional 180,000 tonnes for delivery in the 2013-14. Total export sales that week were a marketing-year high of 1,608,800 tonnes for 2012-13.
China, the largest importer of U.S. soybeans, cancelled earlier purchases of at least 840,000 tonnes, and possibly more designated as “unknown destinations,” of U.S. soybeans in December, according to the USDA.
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