Busy Undertone in Markets

CHICAGO - Nov 1/07 - SNS -- International agriculture commodity markets remained relatively busy as the week started to wind down, with traders looking at wheat import tenders from Pakistan and Tunisia and vegetable oil tenders from India and Egypt.

The USDA released its weekly export sales summary before markets opened. The wheat total was lower than expected at just 180,200 metric tons (MT), versus 602,800 last week. Nigeria was the most important buyer at 84,900 MT, followed by Korea at 48,100 and the United Kingdom at 37,300 MT.

Weekly export sales for corn were less than half expectations at 635,300 MT. Japan was the most important buyer at 167,600 MT, followed by Taiwan at 99,300, Mexico at 63,800 MT, and Egypt at 60,000 MT.

Soybean export sales were higher than expected at 740,600 MT. China was the most important buyer at 280,300 MT, followed by Mexico at 107,600; Japan at 78,500; Taiwan at 66,600 and Portugal at 66,300 MT. Soybean meal sales were also higher than expected at 203,900 MT, as were soybean oil sales at 14,800 MT.

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