Soybean and grain sales for overseas delivery dropped in the seven days ending on February 24. However, USDA says soybean sales for delivery in the 2022-2023 marketing year beginning on September 1 totaled 1.39 million metric tons, with China buying 1.26 million. For the week ending on February 24, soybean sales totaled 857,000 metric tons, a 31 percent drop from the previous week and 34 percent lower than the prior four-week average. Exports for the week reached 751,000 metric tons, a 40 percent drop week-to-week. Corn sales dropped to 485,000 metric tons during the week, down 53 percent from the week before and 47 percent from the four-week average. Corn exports during the week hit 1.55 million metric tons, down 18 percent week-to-week. Wheat sales dipped 42 percent from the prior week to 300,000 metric tons. That was a 54 percent rise compared to the prior four-week average. Wheat exports dropped 33 percent to 365,000 tons.
China Buys a Large Supply of U.S. New Crop Soybeans