US soybean oil net export sales rose to 13,814 mt in the week ending December 3, an increase of 161%, US Department of Agriculture data showed Thursday.
Weekly physical exports for soybean oil, however, fell by 4,692 mt to 23,363 mt.
The top countries to which the US sold current marketing year soybean oil were Mexico at 5,705 mt, Colombia at 5,000 mt and Peru at 1,500 mt.
The top weekly physical soybean oil export destinations were Peru at 13,281 mt, Mexico at 4,902 mt, and Colombia at 3,500 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.
