International Soybean Market:

02-May-2025 08:42 AM

International Soybean Market:
★ According to the USDA, during the week of April 24, the US is expected to export 430,000 tons of soybeans, 54% more than the previous week. China imported the most, with 140,000 tons, and Germany imported 70,000 tons of soybeans.
★ Soymeal exports during this period stood at 330,000 tons, while soybean oil exports were 8,200 tons.
★ An agency reported that in March, around 205.9 million bushels of soybeans were crushed in the US, which is 1.2% more than the same period last year.
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Domestic Soybean Market:
★ The soybean market is under pressure due to lower demand for soymeal caused by DDGS (Distiller's Dried Grains with Solubles), which has affected crushing activities. Soy processing plant prices have also decreased.
★ Government procurement has increased, but prices in all markets are still well below the MSP (Minimum Support Price).
★ There is hope for an increase in soymeal exports at lower prices, but its impact may not be significant.
★ Domestic demand for soymeal remains low, and as a result, the demand for soybeans for crushing remains weak.
★ Additionally, there is a significant import of oils from abroad. All international oilseed markets, including KLCE, CBOT, ICE, and ZCE/DCE, are under pressure.
★ There is little expectation of improvement in soybean prices in the long term unless a solution to the DDGS issue is found.