June 20, 2008

US exports 2.24 million tonnes of soy to China for 2008-09

US private traders shipped a total of 2.24 million tonnes of soy to China for the 2008-09 marketing year, the USDA said Thursday (June 19, 2008).

Meanwhile, the exporters canceled the sale of 463,500 tonnes of soy to have been delivered to China in 2007/08.

The marketing year for soy began September 1.

Earlier this week, the United Soybean Board said eight US soy exporters signed contracts to sell US$4.5 billion worth of the grain to China, still the biggest buyer of the US soy.

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 tonnes or more of one commodity.