International Soybean Market

28-Mar-2025 08:14 AM

International Soybean Market
According to weekly export sales data, sales of 2024/25 soybeans totaled 338,469 metric tons (MT) for the week ending March 20. This was a 4% decline from the previous week but 28.3% higher than the same period last year. Mexico made the largest purchase with 260,900 metric tons, while China bought 202,300 metric tons, most of which were transferred from unknown destinations. Total reductions for unknown destinations amounted to 361,400 metric tons, with most being redirected elsewhere. Net sales for the new crop saw a decrease of 21,906 metric tons.
Soybean meal bookings stood at 165,992 metric tons, the lowest in 10 weeks. Soybean oil sales were recorded at 44,493 metric tons, marking a 30.2% increase week-over-week.
Following a soybean crop tour in Brazil, Agroconsult raised its 2024/25 soybean production estimate to 172.1 million metric tons (MMT), surpassing its February forecast.