US soybean net export sales totaled 313,435 mt for the week ended April 25, down 47.4% from the previous week, Department of Agriculture data showed Thursday.
The weekly net export sales number was below the expected range, with pre-report estimates at 400,000 to 800,000 mt.
Since the 2018-19 marketing year began September 1, total commitments - cumulative exports plus outstanding sales - have been reported at 45.137 million mt, which is 17.6% below the same period last year. The total commitments represent 88.5% of the USDA's 51.029 million mt estimate exports for the entire marketing year.
The top destinations for the weekly net export sales were China with 136,386 mt, the Netherlands with 63,852 mt and Germany with 63,250 mt. A reduction of 242,128 mt was also shown for unknown destinations.
The main export destinations for the week were for China with 136,386 mt, Japan with 77,769 mt and Germany with 63,250 mt.
Net export sales reflect new sales activity and are considered to be a more accurate indicator of market strength than physical exports.
