International Soybean Market

01-May-2025 08:09 AM

International Soybean Market
As we approach the end of the month, there is some pressure on the market. Rainfall will remain limited in parts of the Midwest through much of next week, though heavier rains are expected in parts of Illinois. This should allow planting progress to stay ahead of normal pace.
A Bloomberg survey of analysts estimates March soybean crush at 205.9 million bushels, up 1.2% from last year if realized. The report is due Thursday afternoon.
According to EIA data, 576 million gallons of soybean oil were used in biodiesel/renewable diesel production in February. That’s an 11.91% decrease from the previous month and a 33.13% drop from the same month last year — the lowest monthly total since February 2021.
Traders expect USDA to report 150,000 to 600,000 metric tons of old crop soybean sales for the week of April 24, and new crop sales between 0 and 100,000 metric tons.
Soybean meal sales are expected to range from 150,000 to 450,000 metric tons, while estimates for soybean oil range from 4,000 to 30,000 metric tons.