International Soybean and Related Product Markets

06-Dec-2024 08:12 AM

International Soybean and Related Product Markets

USDA Export Sales
The USDA reported private export sales of 136,000 MT of soybeans to China this morning.

Weekly Export Sales Data
For the week ending November 28, soybean bookings for 2024/25 totaled 2.313 MMT, hitting the high end of trade expectations (1.1 to 2.5 MMT).

This figure was 7.1% lower than the previous week's marketing year (MY) high.
It was still 64.7% higher than the same period last year.
China purchased 669,700 MT, while sales of 432,700 MT were reported to unknown destinations.
Soymeal Sales:

Totaled 280,540 MT, falling on the lower end of estimates (150,000 to 600,000 MT).
Soybean Oil Sales:

Reached 19,514 MT, also near the lower bound of trade ideas (10,000 to 70,000 MT).
October Trade Data
According to the Census Bureau, 9.426 MMT (346.4 million bushels) of soybeans were shipped in October.

This was slightly higher than the same month last year.
Significantly above September’s total.
Soymeal Exports:

Set a record at 1.28 MMT for October.
Canada and Brazil Data
Stats Canada:

Canola production for 2023 was reported at 17.845 MMT, below the estimated 18.51 MMT and 7% lower than last year.
Brazil:

November soybean exports were 2.55 MMT, marking a seasonal decline from October and a sharp 50.87% drop compared to last year.