International Soybean Market

18-Mar-2025 08:19 AM

International Soybean Market
According to weekly export inspection data, total soybean exports for the week ending March 13 stood at 646,667 metric tons (23.76 million bushels). This is 7.7% lower than the previous week and 24.2% lower compared to the same week last year. China was the largest destination, receiving 420,243 metric tons of soybeans — all shipped on or before Monday, as the tariff deadline on U.S. soybeans is April 12 (which only includes cargo already at sea). Mexico received 88,478 metric tons of soybeans.
Since the beginning of the marketing year, total soybean exports have reached 39.098 million metric tons (1.436 billion bushels), which is 9.3% higher than the same period last year.
According to NOPA, only 177.87 million bushels of soybeans were processed (crushed) in February, significantly below analysts' expectations of 185.229 million bushels. This figure is 11.13% lower than in January and 4.47% lower than February last year (which had 29 days).
Soybean oil stocks rose by 17.95% this month to 1.5 billion pounds, although this is still 11.06% lower than last year.
According to AgRural, 70% of Brazil’s soybean crop had been harvested as of last Thursday, well ahead of last year’s pace of 63%.