International Soybean Market

21-Feb-2025 08:19 AM

International Soybean Market
Export sales data has been delayed and will be released on Friday morning. Traders expect that soybean sales for the week ending February 13 could range between 100,000 and 500,000 metric tons for the old crop. New crop sales are estimated to be around 100,000 metric tons. Soybean meal sales are expected to be between 200,000 and 600,000 metric tons. Soybean oil bookings are expected to range from a decrease of 5,000 metric tons to a sale of 25,000 metric tons.
The International Grains Council has reduced its global soybean production estimate by 2 million metric tons, bringing it to 418 million metric tons, while ending stocks have also been reduced by 2 million metric tons, now totaling 82 million metric tons. Argentina's soybean crop is estimated to be 17% in excellent condition, which is 2% higher than the previous week, and it has now moved out of the poor category, which was previously 34%.