This week the only export sales that met the requirements for reporting by private exporters were for soybeans. The new sales total 701,000 metric tons, which is the highest since June 28th for the 2012/13 marketing year. No corn or wheat export sales meeting were reported this week. Either soybeans have not hit a demand killing price level or demand for beans are less elastic. All we can do is watch and learn.
See table below for details.
For week ending August 11, 2012
|Report Date||Crop||Size of Sale
|Destination Country/Marketing Yr|
|Aug 6, 2012||Soybeans||106,000||China (2012/2013)|
|Aug 8, 2012||Soybeans||140,000||Unknown (2012/2013)|
|Aug 9, 2012||Soybeans||165,000||China (2012/2013)|
|Aug 10, 2012||Soybeans||290,000||China (2012/2013)|
The marketing year for soybeans is September 1 – August 31.
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