This Thursday (25), new weekly sales figures for US exports were reported and soybean data was within market expectations. In the week ending April 18, the country sold 596,300 tons of the 2018/19 harvest, while traders expected something between 300,000 and 750,000 tons. Volume is up 57% from the previous week, but is still 15% lower than the average over the past four weeks. Of the total, China accounted for just over 212 thousand tons.
Even so, total North American weekly sales for the entire commercial year total 44,887.3 million tons, almost 10 million less than in the same period last year, when the total was 54,354.1 million. The USDA estimates that sales for this season, which ends on August 31, total 51.03 million tons.
The trade war between China and the United States more than a year ago has severely limited demand from the world's largest buyer in the American market and the US export program remains significantly behind schedule. Still, as signs of good will on the part of the Chinese, the Asian nation still makes some purchases of soybeans from the United States.
According to data from the General Administration of Customs released this Thursday, in March, soybean imports from China to the US increased compared to the previous month. These volumes refer to shipments committed during the truce period signed between the two countries amid the dispute.
Last month, the Asian nation's purchases in the North American market were 1.51 million tons, compared to 97.754 thousand in February. Still, this total is half of what was observed a year ago.
Chinese soybean imports were 4.92 million tons in March, and Brazil remains its main supplier.
Source: Notícias Agrícolas | Author: Carla Mendes
