US soybean oil net export sales fell 4,922 mt to 9,993 mt, in the week ending May 18, decreasing from 14,915 mt the prior week, US Department of Agriculture data showed Thursday.
Weekly physical exports for soybean oil also fell, decreasing by 25,474 mt to 14,573 mt.
The top countries to which the US sold current marketing year soybean oil last week were Mexico at 3,261 mt, Colombia at 3,000 mt and El Salvador at 1,900 mt. There were 335 mt of cancellations the United Kingdom as well.
The top weekly physical soybean oil export destinations were Mexico at 3,698 mt, Canada at 691 and Honduras at 84 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.
