International Soybean Market

12-Mar-2025 08:07 AM

International Soybean Market
In the USDA’s WASDE report, there were no changes made to the U.S. balance sheet, with carryout remaining steady at 380 million bushels (MBU), in line with market expectations. The U.S. average cash price was lowered by 15 cents to $9.95.
Globally, the USDA made no changes to major suppliers — Brazil remained at 169 million metric tons (MMT) and Argentina at 49 MMT. However, soybean crushing in China was increased by 2 MMT, which brought their ending stocks down to 43.96 MMT.
Global ending stocks decreased by 2.93 MMT to 121.41 MMT, mainly due to the reduction in China and a 1 MMT increase in Argentina’s crushing.
According to ANEC, Brazil’s March soybean export volume is now expected to reach 15.45 MMT, higher than the previous estimate of 14.8 MMT. Meanwhile, some Argentine oilseed union workers plan to go on strike at processing plants starting Wednesday.