International Oilseeds Market Update

28-Nov-2024 08:05 AM

International Oilseeds Market Update

The USDA reported a private export sale of 132,000 metric tons of soybeans to China for the 2024/25 marketing year this morning.

Due to the Thanksgiving holiday, the weekly export sales data will be released on Friday morning, one day later than usual. Analysts' estimates for the 2024/25 soybean sales in the week ending November 21 range from 1.5 million to 2.5 million metric tons, while sales for 2025/26 are forecast between 0 and 100,000 metric tons, according to a Reuters survey of analysts.

Additionally, the USDA's monthly crush report will be issued on Monday, with traders estimating that 210.9 million bushels of soybeans were crushed in October. Soybean oil stocks are expected to be around 1.52 billion pounds.