U.S. net soybean oil exports declined 50 percent during the week ending January 4 to a total of 300 tonnes (MT), according to USDA’s Weekly Export Report released on Friday. The export figure was also down 23 percent from the four-week average. The only buyer/destination was Canada. Net domestic soybean oil sales for 2023/23 totaled 100 MT, down sharply on the week and dropping 91 percent from the four-week average. Increases were for Honduras.
Cumulative U.S. soybean oil sales edged up five percent (400 MT) on the week but were down more than 58 percent (11,700 MT) from the same period a year earlier. Outstanding U.S. soybean oil sales were down 0.8 percent (200 MT) from the week prior but were up more than 30 percent (5,600 MT) from the corresponding week the year before.
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