US soybean oil net export sales fell 7,778 mt week on week to 3,654 mt in the week that ended August 18, a decrease of 68.03%, Department of Agriculture data showed Thursday.
Weekly physical exports for soybean oil also fell, decreasing by 9,635 mt week on week to 10,667 mt.
The top countries to which the US sold current marketing year soybean oil last week were Mexico at 3,032 mt, Canada at 476 mt and Panama at 49 mt.
The top weekly physical soybean oil export destinations were Mexico at 6,091 mt, Guatemala at 3,900 mt and Canada at 607 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.
