Soybean exports from the United States 52% below prior year

Sales of U.S. soybeans is the coming harvest this year significantly behind the read back last year. The last USDA report yesterday showed exports 7.093 million tons until July 16. These are 52% less than on the same date in the previous year and the lowest value for mid-July for six years.
Last year, there was virtually no competition from South America. Excessive harvests in Brazil and Argentina make extremely attractive these origins this year but for buyers on the world market. Despite the large backlog of marketing, the USDA left its last export estimate for 2015/16 48.31 million tonnes. In the past week, U.S. exporters received three large orders for a total of 410,000 tonnes. South America prevents but many accounts for the U.S. the export volumes from South America estimates soy beans and the USDA with 59,45 million metric tons to 1.2 million tons higher than in the previous year.
Sowing had disabled the beans long time heavy rains, especially in the eastern part of the Midwest of the United States. Vessel shipments were prevented by high water levels across the Illinois River and deliveries from Exchange warehouses had to be postponed due to force majeure. These multiple problems at the same time high demand of oil mills in the country pushed up prices in the United States and prevented international financial statements.

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