International Oilseeds Market

17-Dec-2024 08:09 AM

International Oilseeds Market
Soybean Shipments:
Weekly Data (Ending Dec 12): Export Inspections reported 1.676 MMT (61.6 mbu) of soybean shipments, down 3.5% from the prior week but up 17.6% year-on-year.
Top Destinations: China received the largest share at 1.026 MMT, followed by Mexico at 191,759 MT.
Year-to-Date Totals: Total shipments in the marketing year have reached 25.23 MMT (927.06 mbu), 19.1% higher than the same period in 2023.
Soybean Processing (NOPA Data):
November processing totaled 193.185 mbu, below trade estimates of 196.713 mbu.
Compared to historical figures:
Up 2.19% from last year, marking a record for November.
Down 3.38% from October 2024.
Soybean Oil Stocks: Ended at 1.08 billion pounds, 1.47% higher than October but 10.6% below last year and under estimates of 1.123 billion pounds.
Brazil’s Soybean Crop:
AgRural projects Brazil's 2024 soybean crop at 171.5 MMT, reflecting strong production potential in the world’s largest soybean-producing country.
These insights underline robust global soybean demand, record processing levels, and expectations of a significant South American harvest.