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China Buys Soybeans, Nigeria Buys HRW Wheat

China Buys Soybeans, Nigeria Buys HRW Wheat

Delivery is for 2014/2015 marketing year, USDA reports

Private exporters reported China bought 115,000 metric tons of 2014/2015 U.S. soybeans and Nigeria bought 120,000 of hard red winter wheat, USDA said on Thursday.

China is the largest foreign buyer of U.S. soybeans and as of Sept. 18 has 16.041 million metric tons in outstanding sales of the 2014/2015 the crop, according to USDA weekly export data. As of Sept. 18, Nigeria had 626,000 metric tons in outstanding wheat purchases.

The marketing year for soybeans began Sept. 1 and for wheat it began June 1.

China buys soybeans, Nigeria buys HRW wheat

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, except 20,000 tons for soybean oil, made in one day to one destination by the following business day.

TAGS: USDA Soybean
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