October 3, 2003

20,000 Tons China Soybean Oil Sale Cancelled

Private exporters in the US reported a cancellation of 20,000 metric tons of soybean oil for delivery to China during the 2003/2004 marketing year. The marketing year for soybean oil began Oct. 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 metric tons or more of one commodity, except 20,000 metric tons for soybean oil, made in one day to one destination, by 3:00 p.m. Eastern time on the next business day following the sale. Export sales of less than these quantities must be reported to USDA on a weekly basis.