Weekly US soybean net export sales double on week at 1.818 mil mt: USDA

Chicago — US soybean weekly net export sales totaled 1.818 million mt for the 2020-21 marketing year during the week ended Jan. 14, up 100% on the week, according to the US Department of Agriculture data released Jan. 22.

In addition to the strong sales for the current marketing year, sales for the upcoming 2021-22 crop were shown at 831,000 mt.

Since the 2020-21 marketing year began on Sept. 1, total commitments -- cumulative exports plus outstanding sales -- were reported at 57.367 million mt.

The yearly total was 84% above the year-ago total during the same week.

The total commitments now represent 94.5% of the USDA's 60.691 million mt estimate for exports during the entire marketing year.

The top destination was China with 864,059 mt for old crop and 319,000 mt for new crop. Other notable destinations were the Netherlands with 236,028 mt and Mexico with 113,398 mt.

Physical exports continued to move at a strong pace with 2.379 million mt for the week ended Jan. 14.

Total accumulated export volume for the year reached 43.368 million mt, which was 79% above the level during the same period in 2020.