International Soybean Market

07-Mar-2025 08:07 AM

International Soybean Market
The USDA reported a private export sale of 20,000 metric tons (MT) of soybean oil to unknown destinations for the 2024/25 marketing year this morning.
According to the export sales data released this morning, soybean bookings totaled 352,883 MT for the week ending 2/27, which was at the lower end of estimates. This was down 14.1% from the previous week and 42.5% lower than the same week last year. China was the largest buyer, purchasing 205,700 MT, while Germany bought 114,100 MT. There was a net reduction of 216,900 MT from unknown destinations, most of which were reassigned to specified destinations. New crop sales totaled 54,886 MT, exceeding the upper end of estimates.
Soybean meal sales were recorded at 236,677 MT, at the lower end of estimates but up 34.1% from the previous week. Soybean oil sales reached 54,837 MT, surpassing estimates and nearly tripling the previous week's total.
According to Census data, January soybean exports stood at 5.21 million metric tons (MMT) (191.5 million bushels), marking the lowest January total in the past five years. This was down 12.57% from last year and 34.55% below December's total. Soybean meal exports for the month were the second highest on record for January, reaching 1.425 MMT. Similarly, soybean oil shipments were the second highest ever recorded for January and the largest for any month since January 2010.