International Soy Markets

20-Dec-2024 08:10 AM

International Soy Markets
The USDA's recent updates on international soy markets reveal mixed dynamics in export activity and product demand:
Soybean Exports:
A private export of 227,200 MT of soybeans was reported, split between the 2024/25 (152,200 MT) and 2025/26 (75,000 MT) marketing years, destined for unspecified buyers.
Total soybean bookings for 2024/25 reached 1.424 MMT, slightly below mid-range analyst estimates of 0.825–2 MMT.
The weekly bookings increased by 21.3% compared to the prior week, though they remain the third-lowest of the marketing year.
China emerged as the largest buyer, securing 648,200 MT, with another 374,500 MT marked for unknown destinations.
Soyameal Sales:
Weekly soyameal sales totaled 261,586 MT, comfortably within the expected range (150,000–400,000 MT) and representing a 48.4% increase from the previous week.
Soybean Oil Sales:
Bean oil sales lagged at 6,307 MT, the lowest in nine weeks and barely above the minimum expectation (5,000–75,000 MT range).
These figures indicate strong interest in soybeans, particularly from China, but weaker demand for derivative products like soybean oil. Meal sales, however, exhibit a robust weekly recovery, signaling ongoing demand in the feed sector.