US soybean export sales to China fall to lowest since September

• The most recent report also showed that unknown countries canceled sales totaling 238,800 tonnes of soybeans.
• Weekly soybean shipments to China were 552,523 tonnes.
• The country's demand for soybeans also shifts to South America in late January as the Brazil harvest begin.

CHICAGO: US export sales of soybeans to China fell to their lowest in nearly five months amid concerns about the spread of the deadly coronavirus denting demand from the world's top buyer of the oilseed.

The export sales to China totaled just 31,523 tonnes in the week ended Jan. 30, according to a weekly US Agriculture Department report released on Thursday morning.

That was the lowest since the week ended Sept. 5 when China's net sales came in at -2,727 tonnes due to cancellations of previously booked deals.

The most recent report also showed that unknown countries canceled sales totaling 238,800 tonnes of soybeans.

Analysts have said that unknown typically refers to China and the trade was on the lookout for any washed sales from China due to the coronavirus.

The death toll from the virus in mainland China jumped by 73 to 563, with more than 28,000 confirmed infections inside the workshop of the world and its second-largest economy.

Weekly soybean shipments to China were 552,523 tonnes.

US Agriculture Secretary Sonny Perdue said on Wednesday that the United States would have to be tolerant if the fast-spreading coronavirus impaired China's ability to increase purchases of American farm products under the countries' recently signed trade deal.

Chinese export deals often slow during the Lunar New Year holiday, which the government extended by three days until Feb. 2 this year as it grappled with the rapidly spreading virus.

The country's demand for soybeans also shifts to South America in late January as the Brazil harvest begin.

Massive crop expectations for that top export country have pushed prices for Brazil soybeans below US supplies.