USDA reported a private export sale of 190,000 metric tons of soybean meal to the Philippines.

According to Monday morning’s Export Inspections report, soybean shipments for the week ending January 15 totaled 1.34 MMT (49.1 million bushels). This was 16.1% lower than the previous week but 35.1% higher than the same week last year. China was the largest destination with 611,983 MT, followed by Germany with 116,120 MT and Mexico with 106,120 MT. Total soybean shipments for the current marketing year have reached 19.335 MMT (710.44 million bushels), which is 40.2% below the same period last year.

According to AgRural, Brazil’s soybean harvest was about 2% complete as of last Thursday. ANEC estimates Brazilian soybean exports for January at 3.79 MMT, up 0.06 MMT from last week’s estimate.