By Kirk Maltais
Export sales of U.S. soybeans have remained low this week, missing trader forecasts of a possible bounce back in weekly sales.
In the USDA's latest weekly export sales report released Thursday, soybean export sales totaled 189,000 metric tons for the 2020/21 and 2021/22 marketing years combined for the week ended June 17. This is well below the expectations of grain traders surveyed by The Wall Street Journal this week, who had forecasts sales to be as high as 1.05 million tons this week.
China posted a purchase of 66,000 tons in 2020/21, along with a reduction in sales for 2021/22 of the same amount. This week, the USDA has announced multiple flash sales of soybeans to China, including a sale of 330,000 tons yesterday.
In pre-market trading Thursday, the most-active soybean contract on the Chicago Board of Trade is down 2.3%, to just above $12.70 per bushel.
To see related data, search "U.S. Export Sales: Weekly Shipment Totals" in Dow Jones NewsPlus.
Write to Kirk Maltais at kirk.maltais@wsj.com
(END) Dow Jones Newswires
06-24-21 0914ET
