International Soybean Market

08-Mar-2025 08:08 AM

International Soybean Market
According to Commitment of Traders data, speculators made a shift of 43,696 contracts, re-entering a net short position, bringing the total net short position to 35,487 contracts.
Weekly export sales data shows that total soybean export commitments stand at 44.386 million metric tons (MMT), which is 13% higher than the same period last year. This represents 89% of the USDA’s marketing year export estimate, aligning with the average sales pace.
The USDA’s WASDE report is set to be released on Tuesday, and traders do not anticipate any significant changes in the U.S. soybean carryout estimate, which is expected to remain steady at 379 million bushels (mbu).
According to Safras & Mercado, Brazilian producers have already sold 42.4% of the 2024/25 soybean crop, compared to 36.6% during the same period last year. In February, Brazil’s total soybean exports stood at 6.43 MMT, slightly lower than last year’s 6.61 MMT.
During January and February, China’s total soybean imports reached 13.61 MMT, an increase of 0.61 MMT compared to the same period last year.