According to the USDA estimates, in the period of April 21-27, the US sold 289.7 thsd tonnes of soybeans for delivery in the current season, which is 7% lower than the previous week. Due to this, the total sales volume of the oilseed in the current season reached 50.7 mln tonnes (-13% y/y).
It is noted that 47.07 mln tonnes of the total sales have already been shipped, including 30.93 mln tonnes to China, 3.56 mln tonnes to Mexico, 1.8 mln tonnes to Japan, 1.49 mln tonnes to Germany, and 1.15 mln tonnes to Indonesia.
As for the soybean processed products, in the current MY, as of April 27, the U.S. sold 9.7 mln tonnes of soybean meal (-1% yoy), and 0.1 mln tonnes of soybean oil (-82% yoy).
Also, analysts estimate the U.S. soybean sales for 2023/24 MY at 1.84 mln tonnes (-84% y/y), and soybean meal – 0.3 mln tonnes (-12% y/y).