International Soy Market

19-Dec-2024 08:10 AM

International Soy Market
Brazilian Soy Outlook:
Ongoing rain across much of Brazil is expected to benefit soy crops during their critical growing season, potentially boosting yields.
The continued decline of the Brazilian Real against the US Dollar enhances Brazil's competitiveness in the global soy market, making their exports more attractive.
Export Developments:
The USDA announced the sale of 120,000 metric tons (MT) of soybean meal to Colombia for the 2024/25 marketing year. This indicates steady international demand for US soy products.
Analysts predict export sales for the week of December 12, 2024, as follows:
Soybeans: Between 0.825 to 2 million metric tons (MMT) for 2024/25 shipments.
Soybean Meal: Estimated at 150,000 to 400,000 MT.
Soybean Oil: Forecast to range from 5,000 to 75,000 MT.
2025/26 Soybeans: Minimal activity expected, with forecasts ranging from 0 to 100,000 MT.
These factors reflect both supportive growing conditions in Brazil and stable demand for soy products from key markets, suggesting a balanced yet competitive environment in the international soy trade.