Who’s Buying Soybeans?
Several countries step up in China's void
The latest export data from USDA shows, China doesn’t necessarily have to be among the top recipients for U.S. soybean exports to have a good week, reports Farm Futures.
Soybeans found 9.3 million bushels in old crop sales and another 22.5 million bushels in new crop sales for a total of 31.8 million bushels.
The Netherlands led the charge on old crop sales, with 2.9 million bushels, while unknown destinations captured the most new crop sales, accounting for more than two-thirds of the total.
Soybean export shipments reached 22.2 million bushels, which came in 18% below the prior week and 22% below the four-week average. Mexico was the No. 1 destination, with 4.4 million bushels. Other top destinations included Indonesia, the Netherlands, Iran and Pakistan.
Read the full report here.