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China Buys Old-Crop Soybeans, Unknowns Buy New-Crop

China Buys Old-Crop Soybeans, Unknowns Buy New-Crop

Corn sale of 210,448 metric tons to unknown

Updates to show corn sale

Private exporters reported that China bought 120,000 metric tons, or nearly 4.41 million bushels, of 2013/2014 U.S. soybeans, USDA said on Wednesday.

Unknown destinations bought  240,000 metric tons, nearly 8.82 million bushels  of 2014/2015 soybeans, USDA said.

Also, unknown destinations bought 210,448 metric tons, nearly 8.29 million bushels, of 2014/2015 corn.

This is China’s third daily purchase of U.S. soybeans in a week and fourth in July. The previous deals involved  2014/2015 supplies.

China buys old-crop soybeans, unknowns buy new-crop

Last week’s USDA weekly export report showed China is the largest buyer of 2014/2015 U.S. soybeans with 6.675 million tonnes, or 245.2 million bushels. The marketing year for soybeans begins Sept. 1.

USDA issues both daily and weekly export sales reports to the public.  Exporters are required to report to USDA any export sales activity of 100,000 tons or more of one commodity, made in one day or quantities totaling 200,000 tons or more in any reporting period.

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TAGS: USDA Soybean
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