US soybean oil net export sales fell 6,115 mt week on week to 11,432 mt in the week that ended August 4, a decrease of 46.5%, according to US Department of Agriculture data released Thursday.
Weekly physical exports for soybean oil also fell, decreasing by 22,504 mt week on week to 20,302 mt.
The top countries to which the US sold current marketing year soybean oil last week were Peru at 7,000 mt, Mexico at 3,009 mt and Canada at 904 mt, the USDA data show.
The top weekly physical soybean oil export destinations were Algeria at 14,700 mt, Mexico at 4,516 mt and Canada at 964 mt.
Net sales are considered a more appropriate indicator for the strength of the soybean oil market. The difference between weekly net export sales and weekly exports is timing, with the agricultural products first bought -- the weekly net export sales figure -- and then physically exported, which is the weekly physical export figure.
