Weekly US soybean net export sales for 2019-20 post marketing year low: USDA

Chicago — US soybean weekly net export sales totaled 244,708 mt for the week ended April 9, according to data released Thursday by the US Department of Agriculture.

This was the lowest weekly net export sales volume since the 2019-20 marketing year began on September 1, and marked a 53.3% decrease from the previous report. The weekly old crop net export sales volume was also 68% below the prior four-week average, the data showed.

Weekly new crop net export sales were shown at 60,000 mt and were all listed for unknown destinations.

For the 2019-20 marketing year, total commitments – cumulative exports plus outstanding sales – were reported at 37.63 million mt. The yearly total was shown 14.9% lower than the year-ago total volume. The total commitments represented 77.9% of the USDA's 48.308 million mt estimate for exports for the entire marketing year.

The top destinations for the week were Egypt with 114,000 mt, Japan with 38,942 mt and Mexico with 22,357 mt.

Total accumulated export volume for the year has reached 32.647 million mt, 4.3% above the same period last year.