January 29, 2013

China bought 510,000 tonnes of soy from US private exporters, which was the second purchase of US soy by China this week.

This is according to USDA on Thursday (Jan 24).

The USDA also reported a sale of 113,000 tonnes of soy to unknown destinations. On January 22, the USDA reported a sale of 120,000 tonnes of soy to China. All three sales were for delivery in the 2013-14 marketing year that begins September 1, 2013.

Export sales activity of 100,000 tonnes or more of a single commodity to one destination (20,000 tonnes for soyoil) must be reported to the USDA by three p.m. eastern time the next business day. Smaller quantities of grains and soy complex products are reported in the USDA's weekly export sales report normally released on Thursday. That report is delayed to January 25 this week because of the Monday holiday.

In the export sales report for the week ended January 10, the USDA said China bought 845,600 tonnes of US soy for delivery in 2012-13 and an additional 180,000 tonnes for delivery in the 2013-14. Total export sales that week were a marketing-year high of 1,608,800 tonnes for 2012-13.

China, the largest importer of US soy, cancelled earlier purchases of at least 840,000 tonnes, and possibly more designated as "unknown destinations," of US soy in December, according to the USDA.