International Soybean Market
05-Apr-2025 08:19 AM
International Soybean Market
In response to President Trump's reciprocal tariffs, China has imposed a 34% retaliatory tariff overnight on all U.S. goods. Currently, about 600,000 metric tons (MT) of soybean sales to China are yet to be shipped, and an additional 2.02 million metric tons (MMT) are listed under unknown destinations, some of which could potentially be China.
According to the Commitment of Traders (COT) report released Friday afternoon, speculative traders reduced their net short positions in soybean futures and options by 13,112 contracts as of April 1. Their total net short position now stands at 29,847 contracts.
As per the USDA’s export sales report, a total of 46.17 million metric tons (MMT) had been sold as of March 27, which is 14% higher compared to the same period last year. This represents 93% of the USDA's projected export target, slightly below the average pace of 94%.