International Soybean Market

13-Mar-2025 08:14 AM

International Soybean Market
The European Union (EU) is set to implement retaliatory tariffs in early April in response to President Trump's tariffs on steel and aluminum, with soybeans expected to be among the targeted products. While the EU currently has no active soybean purchases from the U.S., the U.S. has shipped 4.5 million metric tons (MMT) of soybeans to the EU in this marketing year.
The USDA’s weekly Export Sales report, scheduled for release tomorrow morning, is expected to show soybean sales for the 2024/25 marketing year ranging between 275,000 and 700,000 metric tons (MT). New crop soybean sales are estimated between 0 and 100,000 MT.
Soybean meal sales are projected to range between 190,000 and 410,000 MT, while soybean oil sales are expected to fall between 40,000 and 85,000 MT.
According to this morning’s planting intentions report from Stats Canada, farmers plan to plant 21.65 million acres of canola this year — a 1.7% decrease compared to last year. Soybean planting is projected at 5.64 million acres, a year-over-year decline of 1.37%.