International Soybean Market

10-Apr-2025 08:27 AM

International Soybean Market
At the end of Wednesday’s session, President Trump announced a 90-day tariff pause for targeted countries, though China was excluded from this relief. A blanket 10% tariff remains in place for all countries, while the tariff on all imports from China has been increased to 125%.
This morning, the USDA (U.S. Department of Agriculture) reported a private export sale of 198,000 metric tons of soybeans to unknown destinations. Ahead of Thursday’s Export Sales report for the week ending April 3, analysts estimate 2024/25 soybean sales to be between 200,000 and 700,000 metric tons. New crop sales are projected to range from 0 to 50,000 metric tons.
Soybean meal sales are expected to be between 75,000 and 470,000 metric tons, while soybean oil sales are estimated between 5,000 and 37,000 metric tons.
The USDA will also release its monthly WASDE report on Thursday, updating U.S. and global balance sheets. According to a Reuters survey, traders anticipate U.S. soybean ending stocks (carryout) at 379 million bushels, slightly down from 380 million in last month’s report.
No major changes are expected for South America—Argentina’s production estimate has been revised down by 0.21 MMT to 48.79 MMT, while Brazil’s estimate is up slightly by 0.11 MMT to 169.11 MMT.