In the week ending February 15, exporters from the United States disclosed the sale of 202 thousand tons of soybean meal from the 2023/24 harvest, considering cancellations, as reported by the Department of Agriculture on Friday. This volume represents a 1% decrease compared to the previous week and a 35% decline compared to the average of the preceding four weeks.
The primary purchasers of the soybean meal included Colombia (97.9 thousand tons), Vietnam (51 thousand tons), Mexico (28.7 thousand tons), Morocco (21 thousand tons), and the Dominican Republic (17.4 thousand tons). Notably, cancellations by undisclosed destinations (54 thousand tons) and Ireland (18 thousand tons) were offset by reported sales of 500 tons to Canada.
The total sales of 202.5 thousand tons fell within the range of analyst estimates, varying from 175 thousand tons to 400 thousand tons. Shipments during the same week amounted to 293.6 thousand tons, indicating a 15% decrease compared to the previous week and a 9% reduction compared to the average of the previous four weeks.
Key destinations for these shipments included the Philippines (96 thousand tons), Colombia (60.5 thousand tons), Mexico (39.6 thousand tons), Morocco (36 thousand tons), and Honduras (21.3 thousand tons).
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