International Soybean Market

31-May-2025 08:23 AM

International Soybean Market
The forecast for wet weather across the Northern Plains to the Eastern Corn Belt next week has added pressure to the soybean market. Bean oil prices declined due to news that the White House is attempting to resolve pending waiver requests from small refineries, which also caused the RIN market to fall and added further pressure on soybean oil.
Export sales data this morning showed old crop soybean sales at 146,034 metric tons, below analysts' estimates of 150,000 to 500,000 metric tons. This marks a 15-week low and is 55.8% below the same period last year. Mexico purchased 52,200 metric tons, while Indonesia bought 2,400 metric tons. New crop sales totaled 32,000 metric tons, within the forecast range of 0 to 250,000 metric tons.
Soybean meal total sales reached 603,169 metric tons, surpassing the expected range of 150,000 to 450,000 metric tons. Of this, 424,649 metric tons were for the current marketing year, the highest since October. For 2024/25, the Philippines bought 158,400 metric tons and Japan purchased 97,000 metric tons. Bean oil sales totaled 19,542 metric tons, within the estimated range of 5,000 to 32,000 metric tons, and marked a 7-week high.
In soybean futures and options, large managed money speculators added 24,043 contracts to their net long position as of May 27, bringing it to 36,967 contracts. In soybean meal, speculators cut 13,681 contracts from their record net short position, reducing it to 93,785 contracts.
Monthly crush data will be updated Monday, with traders expecting April soybean crushing to reach 201.8 million bushels.