International Soybean Market

01-Apr-2025 08:13 AM

International Soybean Market
According to the Prospective Plantings report, the NASS survey indicates that producers intend to plant 83.495 million acres of soybeans this spring. This is slightly below average trade estimates but within the projected range of 82.5 to 85.5 million acres. If realized, this would represent a decline of 3.555 million acres.
As of March 1, soybean stocks were recorded at 1.91 billion bushels, slightly above trade estimates and 65 million bushels more than the same period last year.
According to the USDA's weekly export inspection report, a total of 793,250 metric tons (29.15 million bushels) of soybeans were exported in the week ending March 27. This marked a 7.5% decline from the previous week but was 54.1% higher than the same period last year.
Despite existing tariffs, China remained the top destination, receiving 622,005 metric tons (78.4% of total exports).
So far in this marketing year, a total of 40.731 million metric tons (1.497 billion bushels) of soybeans have been exported, which is 9.8% higher than the same week in 2024.
The Fats and Oils report will be released on Tuesday, with analysts expecting soybean processing (crushing) of approximately 189 million bushels in February.
According to AgRural estimates, as of March 27, Brazil’s soybean harvest was 82% complete, progressing faster than the 74% recorded during the same period last year.