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Soybean Sales Perk Up

10/21/2021 | 07:12am

By Kirk Maltais

Exports sales of U.S. soybeans surged this week, driven mostly by sales to China.

In this week's export sales report, the USDA says that for the week ended October 14, soybean sales totaled 2.88 million metric tons for the 2021/22 marketing year, driven largely by 1.88 million tons sold to China for the week. Other leading buyers for the week were unknown destinations, the Netherlands, Egypt, and Bangladesh.

Grain traders surveyed by The Wall Street Journal this week had forecast soybean sales to total anywhere between 1.2 million tons to 2.5 million tons. Last week, soybean sales totaled 1.15 million tons.

Meanwhile, corn and wheat sales fell within the expectations of grains traders this week, totaling 1.27 million tons and 362,400 tons, respectively.

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

10-21-21 0912ET

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